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  "documentTitle": "Hestia Pitney Bowes Presentation April 2023",
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  "notes": "Uses a line chart to visualize the widening gap between guidance and actual EPS, supported by two contradictory management quotes.",
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      "text": "After strong earnings, which beat guidance when management was focused on core businesses, the Company began to experience accelerating declines in earnings and growing earnings misses after pivoting to the Company’s GEC growth strategy in 2015.",
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      "text": "During Q4 2019 earnings call, “While we continue to experience some growing pains in our Global Ecommerce business and invest in front of demand, it is also clear we have found an opportunity that's compelling, and we've earned the right to win.”",
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      "text": "During 2015 Analyst Day, “Let me look at 2017 versus 2016, the $0.22 to $0.27 really represents the benefits associated with the significant opportunity associated with the ERP program to generate benefits in 2017. The portfolio change is really the tail of getting the synergies from our Borderfree integration.”",
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      "text": "Source: 2015 Analyst Day transcript; Q4 2019 Earnings Call transcript.",
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      "text": "Pitney Bowes’ Stark Contradictions",
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