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  "documentTitle": "PetIQ, Inc. (PETQ)",
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  "notes": "Uses callout boxes to contrast management quotes with actual data shifts.",
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      "text": "Q4 FY17",
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      "text": "Jan 2018 VIP Acquisition Call Presentation",
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      "kind": "callout",
      "text": "20% -> 15-20% -> 15%",
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      "kind": "callout",
      "text": "While PetIQ's growth target was initially set at 20%, this figure was gradually tracked back to 15% without much explanation, and without any announcement that its growth estimate had changed.",
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      "text": "Net Sales Growth: 15%",
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      "text": "While PetIQ's growth target was initially set at 20%, this figure was gradually tracked back to 15% without much explanation, and without any announcement that its growth estimate had changed. In fact, management attempted to communicate that its growth targets hadn't moved at all.",
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      "kind": "quote",
      "text": "Well, I think, Kevin, the first thing is we've been messaging 15% to 20% growth rates on the business on a forward-looking basis.",
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      "kind": "quote",
      "text": "And then, looking out to 2018 and then maybe even beyond that, do you still feel comfortable with the 20% sales growth that you shared during the IPO process?",
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      "kind": "quote",
      "text": "We've just completed what is a six-week process we go through for both a bottom up and a top down for every item and every customer. We still stand by our growth targets for the future and don't have any updates to those targets at this point for next year.",
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      "kind": "quote",
      "text": "And then, looking out to 2018 and then maybe even beyond that, do you still feel comfortable with the 20% sales growth that you shared during the IPO process? We've just completed what is a six-week process we go through for both a bottom up and a top down for every item and every customer. We still stand by our growth targets for the future and don't have any updates to those targets at this point for next year. — Q3 FY17 Earnings Call",
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      "text": "Net Sales Growth 15% +; Adjusted EBITDA Growth 20% +",
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      "text": "Shifting Growth Targets",
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