Howmet Aerospace Earnings Reports

Howmet Aerospace reported strong Q3 2024 results with revenue up 11% year-over-year to $1.84 billion and net income of $332 million. The company saw significant growth in the commercial aerospace market, which drove adjusted EBITDA up 27% year-over-year. They also reduced debt and repurchased common stock.

Howmet Aerospace reported record second quarter 2024 revenue of $1.88 billion, up 14% year over year. Net income was $266 million, or $0.65 per share. Operating income was $398 million, up 40% year over year. The company raised full year 2024 guidance for all metrics.

Howmet Aerospace reported a strong start to 2024, exceeding guidance with record quarterly results in revenue, Adjusted EBITDA, Adjusted EBITDA margin, and Adjusted earnings per share. First quarter 2024 revenue grew 14% year over year with all end markets up, led by 23% growth in commercial aerospace.

Howmet Aerospace reported Q4 2023 revenue of $1.7 billion, a 14% increase year-over-year, driven by a 22% increase in commercial aerospace. Net income was $236 million, or $0.57 per share, compared to $111 million, or $0.26 per share, in Q4 2022. The company generated $403 million in free cash flow and completed debt actions reducing outstanding notes.

Howmet Aerospace reported strong Q3 2023 results, with revenue up 16% year-over-year to $1.66 billion, driven by a 23% increase in commercial aerospace revenue. Net income was $188 million, or $0.45 per share, while adjusted EPS was $0.46, up 28% year-over-year. The company also generated $132 million in free cash flow and increased its common stock dividend by 25%.

Howmet Aerospace reported strong second quarter 2023 results, with revenue up 18% year over year to $1.65 billion, driven by a 23% increase in commercial aerospace. Net income was $193 million, or $0.46 per share, compared to $147 million, or $0.35 per share, in the second quarter 2022. The company increased full year 2023 guidance and expects to increase the common stock dividend in the fourth quarter of 2023.

Howmet Aerospace reported a strong start to 2023, with revenue up 21% year-over-year to $1.60 billion, driven by growth in the commercial aerospace market. Net income was $148 million, or $0.35 per share, while net income excluding special items was $175 million, or $0.42 per share. The company reduced debt by $176 million and repurchased $25 million of common stock.

Howmet Aerospace reported Q4 2022 revenues of $1.5 billion, up 18% year-over-year, driven by growth in the commercial aerospace market. Net income was $111 million, or $0.26 per share, compared to $77 million, or $0.18 per share, in Q4 2021. Net income excluding special items was $160 million, or $0.38 per share, versus $130 million, or $0.30 per share, in Q4 2021.

Howmet Aerospace reported Q3 2022 revenues of $1.43 billion, up 12% year over year, driven by growth in the commercial aerospace market. Net income was $80 million, or $0.19 per share, compared to $27 million, or $0.06 per share, in Q3 2021. Net income excluding special items was $152 million, or $0.36 per share, versus $120 million, or $0.27 per share, in Q3 2021.

Howmet Aerospace reported strong second quarter 2022 results, with revenue of $1.39 billion, up 17% year-over-year, driven by growth in the commercial aerospace market. Net income was $147 million, or $0.35 per share. The company generated $114 million in free cash flow and executed $60 million in share repurchases and $60 million in debt repurchases.

Howmet Aerospace reported a strong start to 2022, with revenue up 10% year over year to $1.32 billion and adjusted EPS exceeding guidance, up 41% year over year.

Howmet Aerospace reported Q4 2021 revenues of $1.3 billion, a 4% increase year-over-year, driven by growth in commercial aerospace and transportation markets. Income from continuing operations was $77 million, or $0.18 per share, while income from continuing operations excluding special items was $130 million, or $0.30 per share. The company generated $242 million of adjusted free cash flow and ended the quarter with a cash balance of $722 million.

Howmet Aerospace reported Q3 2021 results with revenue of $1.28 billion, up 13% year over year and 7% sequentially. Income from continuing operations was $27 million, or $0.06 per share, while income from continuing operations excluding special items was $120 million, or $0.27 per share. The company generated $115 million of adjusted free cash flow and ended the quarter with a cash balance of $726 million.

Howmet Aerospace reported Q2 2021 revenues of $1.20 billion, a decrease of 5% year-over-year. Income from continuing operations was $74 million, or $0.17 per share, compared to a loss of $84 million, or $0.19 per share, in Q2 2020. Operating income was $207 million, up 180% year-over-year. The company generated $164 million of adjusted free cash flow and ended the quarter with a cash balance of $716 million.

Howmet Aerospace reported Q1 2021 revenues of $1.2 billion, a 26% decrease year-over-year, and income from continuing operations of $80 million, or $0.18 per share. The decline was attributed to disruptions in the commercial aerospace market, but profits and margins exceeded expectations due to favorable product pricing and effective cost performance. The company ended the quarter with a cash balance of $1.2 billion after redeeming approximately $361 million of debt.

Howmet Aerospace reported Q4 2020 revenues of $1.2 billion, a 29% year-over-year decrease, but a 9% sequential increase from Q3 2020. The company's income from continuing operations was $106 million, or $0.24 per share, compared to $118 million, or $0.27 per share, in Q4 2019. Income from continuing operations excluding special items was $92 million, or $0.21 per share, versus $164 million, or $0.37 per share, in Q4 2019. The company ended the year with a cash balance of approximately $1.6 billion.

Howmet Aerospace reported Q3 2020 results with revenues of $1.13 billion, a 37% decrease year-over-year. Income from continuing operations was $36 million, or $0.08 per share. The company generated positive cash from operations and adjusted free cash flow, with the cash balance increasing to $1.4 billion.

Howmet Aerospace reported a revenue of $1.25 billion, a 31% decrease year-over-year, impacted by COVID-19 and 737 MAX production declines. The company reported a Loss from Continuing Operations of $84 million, or $0.19 per share. Income from Continuing Operations excluding special items was $55 million, or $0.12 per share. Despite these challenges, Howmet Aerospace generated positive cash from operations and positive adjusted free cash flow, with a cash balance of $1.28 billion at the end of the quarter.

Howmet Aerospace reported a decrease in revenue but an increase in profitability for Q1 2020. Revenue was $3.2 billion, down 9% year-over-year, while net income was $215 million, or $0.49 per share. Operating income excluding special items was $472 million, up 19% year-over-year.

Arconic Inc. reported fourth quarter revenues of $3.4 billion, a decrease of 2% year over year. Net income was $309 million, or $0.70 per share, compared to $218 million, or $0.44 per share, in the fourth quarter of 2018. Net income excluding special items was $234 million, or $0.53 per share, compared to $162 million, or $0.33 per share, in the fourth quarter 2018.