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Mar 31, 2022
Howmet Aerospace Q1 2022 Earnings Report
Revenue and EPS exceeded guidance with increased share repurchases.
Key Takeaways
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.
Revenue of $1.32 billion, up 10% year over year
Net income of $131 million, or $0.31 per share, versus $80 million, or $0.18 per share, in the first quarter 2021
Net income excluding special items of $132 million, or $0.31 per share
Adjusted EBITDA excluding special items of $300 million, up 9% year over year
Howmet Aerospace
Howmet Aerospace
Howmet Aerospace Revenue by Segment
Revenue by Segment
Engine Products Revenue
CapyFin.comFastening Systems Revenue
CapyFin.comEngineered Structures Revenue
CapyFin.comForged Wheels Revenue
CapyFin.com Forward Guidance
Howmet Aerospace provided guidance for Q2 2022 and full year 2022.
Positive Outlook
- Q2 2022 Revenue: $1.350B - $1.390B
- Q2 2022 Adj. EBITDA: $302M - $318M
- Q2 2022 Adj. Earnings per Share: $0.31 - $0.33
- FY 2022 Revenue: $5.560B - $5.720B
- FY 2022 Adj. Earnings per Share: $1.33 - $1.45
Challenges Ahead
- Reconciliations of the forward-looking non-GAAP measures to the most directly comparable GAAP measures are not available without unreasonable efforts.
- Variability and complexity of the charges and other components excluded from the non-GAAP measures.
- Effects of foreign currency movements.
- Gains or losses on sales of assets.
- Any future restructuring or impairment charges.
Revenue & Expenses
Visualization of income flow from segment revenue to net income