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  "documentTitle": "Arconic Inc. (ARNC)",
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  "authorName": "Elliott",
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      "text": "Arconic originally projected that Firth Rixson would do $2 billion of revenue in 2019. At the same margins as originally projected for 2016 (i.e., conservatively assuming no incremental volume leverage), Firth Rixson will produce approximately 50% less EBITDA than originally targeted for 2019",
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      "text": "Source: Firth Rixson Acquisition Presentation, June 26, 2014; Arconic Investor Presentations. Note: Arconic originally projected $2 billion in Firth Rixson revenue in 2019 but did not provide a margin target. Conservatively, keeping margins constant from 2016, revenue and EBITDA targets = $446 million of EBITDA in 2019",
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