Howmet Aerospace Q1 revenue up 21% YoY to $1.60B; raises full-year 2023 guidance

Howmet Aerospace Inc.

2023-Q1 EPS reported $0.35 revenue$1,603,000,000

Revenue $1.60B (+21% YoY), net income $148M vs $131M YoY; adj. EPS $0.42, up 35% YoY.
Raised FY 2023 guidance: revenue $6.200-6.325B, adj. EBITDA $1.400-1.435B, adj. EPS $1.65-1.70.
Reduced debt by $176M in Q1 (5.125% 2024 Notes), repurchased $25M of common stock, dividend $0.04/share.
S&P revised outlook to positive from stable, affirmed 'BB+' credit rating on April 25.
Segment revenue: Engine Products +26%, Fastening +18%, Engineered Structures +14%, Forged Wheels +17%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Howmet Aerospace Inc. reported first quarter of 2023 results: revenue $1.60 billion, net income $148 million, EPS $0.35 per share. Guidance raised.

Period: first quarter of 2023
Revenue: $1.60 billion
Net income: $148 million
EPS: $0.35 per share
Guidance: raised
Result: reported results

Exact text from the filing

First Quarter 2023 Highlights Revenue of $1.60 billion, up 21% year over year, driven by commercial aerospace, up 29% year over year Net income of $148 million, or $0.35 per share, versus $131 million, or $0.31 per share, in the first quarter 2022, up 13% year over year

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Source: SEC EDGAR

accession 0001157523-23-000673

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