Howmet Aerospace Q3 2024: Revenue up 11% to $1.84B; adj. EPS $0.71 (+54% YoY); guidance raised

Howmet Aerospace Inc.

2024-Q3 EPS reported $2.04 revenue$5,539,000,000

Net income $332M ($0.81 EPS) vs $188M ($0.45 EPS) YoY; adjusted EPS $0.71 beats high end of guidance.
Segment: Engine Products rev $945M (+18%), EBITDA margin 32.5% record; Forged Wheels rev $245M (-14%).
Raised FY2024 adj. EBITDA guidance to $1.885-1.905B; adj. EPS to $2.65-2.67; preliminary 2025 revenue growth ~7.5%.
Debt actions reduced annualized interest expense by ~$33M; repurchased $100M stock in Q3 at avg $94.22.
Quarterly dividend increased 60% to $0.08/share; expect 25% increase to $0.10 in Q1 2025 (subject to Board).

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