Callouts & quotes from 1,069+ activist slides

"Of course oil prices aren't expected to stay at $59. This is what the current forward curve, or strip, for WTI looks like."

"All-In' TCP dropdown will improve TRP/TCP's low expected 5-year dividend/distribution growth rates back to industry levels"

"Pfizer management expects these transactions to contribute >$20.5 billion in revenue by 2030. — Pfizer Public Presentation"

"In our opinion, this is just another poorly planned deal by GFL that resulted in unexpected higher costs to shareholders."

"The Oilseed and Cotton joint ventures are expected to be earnings and value accretive from the first year onwards. — Olam"

"Each of the companies is expected to see improvement in growth + profitability in 2023, largely due to margin expansion."

"Each of the companies is expected to see improvement in growth + profitability in 2023, largely due to margin expansion."

"With 1 net store closing in 2018 and continued underlying business pressures, we expect 2018 performance to deteriorate."

"One area that has certainly struggled is Latin America, falling below expectations dating back to pre-acquisition Bemis."

"Each of the companies is expected to see improvement in growth + profitability in 2023, largely due to margin expansion."

"Wall Street research analysts expect Pfizer's revenue to decline by 3% (9% increase excluding COVID) from 2023 to 2030."

"We think that within 6 months AXDX management will be forced to revise down reagent revenue expectations a second time."

"we recognize that we did not deliver on expectations we set in the past. — US Foods public letter, dated April 18, 2022"

"Bristol-Myers management seems to be expecting five unidentified products to generate average revenues of $1.4 billion"

"Wall Street analysts expect Bristol-Myers to continue to grow revenue and leverage it into faster adjusted EPS growth."

"A surgeon who directs the program expects to terminate their usage in the next 6-12 months: "Yes, it will go to zero.""

"The expected construction costs are about half of our estimate of Huishan's reported average spend of RMB 89 million."

"We expect substantial additional share price appreciation as key steps are taken towards ending the conservatorships"

"The Board is responsible for holding management accountable on improving its expected revenue return to at least 38%"

"The Board is responsible for holding management accountable on improving its expected revenue return to at least 38%"

"Even with large expectations for the pipeline, revenue will be declining, possibly impacting the valuation multiple"

""It was surprising to see [Strobel] retire so early – I don't think that was expected." — Former Employee, Hill-Rom"

"Current users seem to be expecting significant price concessions from Procept if they choose to upgrade to HYDROS."

"While EBITDA is expected to approach 2019 levels, shares are down nearly 70% from prior highs and 50% year-to-date"

"Although it is a lower priority, we would expect to begin realizing repairs and maintenance savings after 6 months"

"Although it is a lower priority, we would expect to begin realizing repairs and maintenance savings after 6 months"

"Management is expecting to return approximately 1/3 of the current ~$260bn market cap to shareholders through 2018"

"We believe C3 is poised to reset expectations as sales fail to materialize, losses balloon, and dilution increases"

"If the rules were eliminated, we would expect commissions to compress to levels seen in other developed economies."

"Pro forma for the expected decline in the U.S. business, normalized EPS is significantly below consensus estimates"

"Happy Days Are OVER for Apellis, as the Experts Give a Thumbs Down to Syfovre. Citron Expects FDA Warning Letter."

"As everyone knows, EVs are expected to grow from 11% of vehicles last year to over 40% by the end of the decade."

"HBO revenue is expected to grow from $3.5 billion in 2005 to $4.7 billion in 2010, representing a CAGR of 6.1%."

"TWC also expects to substantially enhance the ARPU and margins of the acquired Adelphia systems as shown below:"

"We expect Focus Universal to post revenue of $2 million in 2021, $45 million in 2022, and $150 million in 2023."

"The entire Union Pacific team recognizes that 2022 did not beat expectations. — UNP on its Q4'22 earnings call"

"What kind of volume can a business like this expect when its clientele is pet owners who never go to the vet?"

""Taubman reported metrics that were ahead of our expectations in almost all respects" — Green Street Advisors"

"We expect a substantial re-rating lower in the share price once investors critically analyze its financials."

"Many of these businesses are developing very, very well; however, others are not doing as well as expected."

"We expect companies in which we invest to have a credible, publicly-disclosed plan to reduce GHG emissions."

"If [Phillips 66] can't improve results, lower expectations? — Elliott Investment Management, April 22, 2025"

"Filmed Entertainment theatrical film OIBDA growth rate, however, is not expected to exceed its peer group."

"Investors should be concerned by the unexpected and abrupt resignation of CEO Gabi Seligsohn in June 2018."

"In the near term, I would expect less profitability at the bottom line than what was previously disclosed."

"We expect to hear details of a broader restructuring at Yahoo including elements laid out in this letter."

"How can performance be expected to improve if the Company refuses to acknowledge that it has been so bad?"

"TWC's basic ARPU is expected to grow 13% over the period despite pricing pressure from DBS and the RBOCs."

"The subsequent demotion of the Adubiaso and the Nkran extensions imply their expected economics are poor."

"Management expects to invest the majority of the company's free cash flow in value-creating acquisitions"

"AOL's worldwide subscribers declined 7% in 2004 and are expected to decline 10% and 7% in 2005 and 2006."

"We expect the total value to be about $600 per share, or $150 higher than the current stock price today."

"As a result, the compound annual growth rate of tablet market is expected to be -4.6% from 2017 to 2022."

"Management expects to invest the majority of the company's free cash flow in value-creating acquisitions"

""Insanity is doing the same thing over and over again and expecting different results" — Albert Einstein"

"If we are right, we expect the Taylor Swift benefits from 2023 to become headwinds to comps in H2 2024."

"We believe consensus expectations on revenue growth and Adj. EBITDA margin expansion are not realistic."

"The definition of insanity is doing the same thing over and over again and expecting different results!"

"Celgene set investor expectations that FOURTEEN significant products could launch between 2017 and 2022"

"The definition of insanity is doing the same thing over and over again and expecting different results!"