Howmet Q3 revenue $1.66B (+16% YoY); raises FY2023 outlook; dividend up 25%

Howmet Aerospace Inc.

2023-Q3 EPS reported $1.27 revenue$4,909,000,000

Revenue $1.66B (+16% YoY), commercial aerospace up 23%; net income $188M vs $80M YoY.
Adjusted EPS $0.46 (+28% YoY); adjusted EBITDA $382M (+18%); operating margin 18.5%.
Raised FY2023 guidance: revenue $6.545B baseline, adj. EBITDA $1.485B, adj. EPS $1.77.
Redeemed $200M of 5.125% notes due 2024, repurchased $25M stock, increased dividend to $0.05/share (+25%).
Fitch upgraded to BBB; Moody's outlook raised to positive.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Howmet Aerospace Inc. reported third quarter of 2023 results: revenue $1.66 billion, net income $188 million, EPS $0.45. Guidance reaffirmed.

Period: third quarter of 2023
Revenue: $1.66 billion
Net income: $188 million
EPS: $0.45
Guidance: reaffirmed
Result: reported results

Exact text from the filing

2024 Preliminary Revenue Growth Guidance Approximately 7% PITTSBURGH--(BUSINESS WIRE)--November 2, 2023--Howmet Aerospace (NYSE:HWM): Third Quarter 2023 Highlights Revenue of $1.66 billion, up 16% year over year, driven by commercial aerospace, up 23% year over year Net income of $188 million versus $80 million in the third quarter 2022; earnings per share of $0.45

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Source: SEC EDGAR

accession 0001157523-23-001618

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