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Jun 30, 2023
Howmet Aerospace Q2 2023 Earnings Report
Howmet Aerospace's second quarter performance in 2023 was marked by revenue growth, driven by the commercial aerospace sector, and strong profit and cash generation.
Key Takeaways
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.
Revenue increased by 18% year-over-year, reaching $1.65 billion, propelled by a 23% surge in commercial aerospace.
Net income was reported at $193 million, translating to $0.46 per share.
The company generated $188 million in free cash flow.
Howmet Aerospace repurchased $100 million of its common stock during the quarter.
Revenue by Segment
Forward Guidance
Howmet Aerospace increased its full year 2023 guidance for revenue, Adjusted EBITDA*, and Adjusted Earnings Per Share*.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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