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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
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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