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  "documentTitle": "Arconic Inc. (ARNC)",
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  "authorName": "Elliott",
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  "presentationDate": "2017-04-11 00:00:00",
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  "notes": "Uses a waterfall-style diagram to show margin drivers and bar charts to compare financials with and without the packaging business.",
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      "kind": "callout",
      "text": "Arconic is targeting 200 bps of margin expansion over the next 3-5 years in GRP. 159 bps are already baked-in simply as a result of exiting Tennessee packaging",
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      "text": "Tennessee packaging produced $552 million of revenue and generated negative $3 million of EBITDA. Exiting that low-margin business (over 2 years) achieves 159 bps (or almost 80% of the Company's 3-5 year margin goal)",
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