Howmet Q1 revenue record $1.82B (+14% YoY); raises FY guidance; adj. EPS $0.57 (+36%)

Howmet Aerospace Inc.

2024-Q1 EPS reported $0.59 revenue$1,824,000,000

Revenue $1.82B (record), net income $243M vs $148M YoY; adj. EBITDA $437M (+21%), margin 24.0%.
All end markets up; commercial aerospace +23%; Boeing 737 MAX assumptions cut to 20/month, but overall guidance raised $200M.
Segment highlights: Engine Products EBITDA $249M (margin 28.1%); Fastening Systems EBITDA $92M (+59%); Forged Wheels margin 28.5%.
Raised FY2024 guidance: revenue $7.30B (midpoint), adj. EPS $2.35, free cash flow $800M; Q2 guidance also above expectations.
Repurchased $150M shares at $66.87; expect to increase quarterly dividend to $0.07 from $0.05 in Q3; Moody's upgraded to investment grade.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Howmet Aerospace Inc. reported first quarter of 2024 results: revenue $1.82 billion, net income $243 million, EPS $0.59. Guidance raised.

Period: first quarter of 2024
Revenue: $1.82 billion
Net income: $243 million
EPS: $0.59
Guidance: raised
Result: reported results

Exact text from the filing

Profit and Cash from Operations $150 Million Deployed for Common Stock Repurchases Full Year 2024 Guidance Increased First Quarter 2024 GAAP Financial Results · Revenue of $1.82 billion, up 14% year over year, driven by commercial aerospace, up 23% · Net income of $243 million versus $148 million in the first quarter 2023; earnings per share of $0.59 versus

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Source: SEC EDGAR

accession 0001104659-24-055980

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