Howmet Q2 revenue $1.65B (+18% YoY), raises FY guidance, plans dividend increase

Howmet Aerospace Inc.

2023-Q2 EPS reported $0.81 revenue$3,251,000,000

Revenue $1.65B (+18% YoY); adjusted EPS $0.44 vs $0.35 YoY.
FY 2023 guidance raised: revenue $6.44B midpoint, adj. EBITDA $1.445B.
$100M share repurchases in Q2 at avg $44.52; $822M authorization remains.
Plans $200M redemption of 5.125% Notes due 2024 to cut annual interest ~$10M.
Expects to increase quarterly dividend 25% to $0.05/sh in Q4 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Howmet Aerospace Inc. reported Full Year 2023 results: revenue $6.440B, EPS $1.70. Guidance raised.

Period: Full Year 2023
Revenue: $6.440B
EPS: $1.70
Guidance: raised
Result: guidance update

Exact text from the filing

and $0.04 per share dividend on common stock 2023 Guidance Q3 2023 Guidance FY 2023 Guidance Low Baseline High Low Baseline High Revenue $1.580B $1.590B $1.600B $6.400B $6.440B $6.470B Adj. EBITDA *1 $355M $360M $365M $1.435B $1.445B $1.455B Adj. EBITDA Margin *1 22.5% 22.6% 22.8% 22.4% 22.4% 22.5% Adj. Earnings per Share *1 $0.41 $0.42 $0.43 $1.69

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Howmet Aerospace Inc. reported the second quarter of 2023 results: revenue $1.65 billion, net income $193 million, EPS $0.46 per share. Guidance raised.

Period: the second quarter of 2023
Revenue: $1.65 billion
Net income: $193 million
EPS: $0.46 per share
Guidance: raised
Result: reported results

Exact text from the filing

Second Quarter 2023 Highlights Revenue of $1.65 billion, up 18% year over year, driven by commercial aerospace, up 23% year over year Net income of $193 million, or $0.46 per share, versus $147 million, or $0.35 per share, in the second quarter 2022

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Howmet Aerospace Inc. filing history →

Source: SEC EDGAR

accession 0001157523-23-001202

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