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  "documentTitle": "Arconic Inc. (ARNC)",
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  "authorName": "Elliott",
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  "notes": "Uses a before-after comparison to demonstrate the impact of operational efficiency on financial performance.",
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      "text": "While we believe there are substantial cost savings opportunities at GRP, the Company could produce a dramatic increase in free cash flow simply by increasing the utilization even in the absence of EBITDA/MT improvement",
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      "text": "Comparison of GRP Today vs GRP at Peer Asset Turns for EBITDA and FCF",
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      "text": "While we believe there are substantial cost savings opportunities at GRP, the Company could produce a dramatic increase in free cash flow simply by increasing the utilization even in the absence of EBITDA/MT improvement",
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      "text": "We are not going to run for EBITDA per ton, we're going to run for total EBITDA out of this business.",
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      "kind": "quote",
      "text": "We are not going to run for EBITDA per ton, we're going to run for total EBITDA out of this business. — Roy Harvey, CEO, Alcoa Corp., February 28, 2017",
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      "text": "Source: Capital IQ; Company filings",
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      "text": "Poor Underlying Performance: Illustrating GRP Free Cash Flow Effect from More Turns",
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