Howmet Aerospace announced its second quarter 2025 financial results, reporting record revenue of $2.05 billion, a 9% increase year over year. The growth was driven by an 8% rise in the commercial aerospace market, a 21% increase in defense aerospace, and a 17% increase in the industrial sector, despite a 4% decline in commercial transportation. The company achieved a net income of $407 million, or $1.00 per share, compared to $266 million and $0.65 per share in the same quarter of 2024. Operating income rose 31% year over year to $521 million, with an operating margin of 25.4% and adjusted EBITDA margin at 28.7%, reflecting strong performance across several segments, particularly in commercial and defense aerospace.
In addition to the financial performance, Howmet Aerospace repurchased $175 million of common stock in the second quarter and another $100 million in July, totaling $400 million year-to-date. The Board of Directors declared a 20% increase in the quarterly dividend to $0.12 per share, effective in the third quarter of 2025. The company also paid down $76 million of debt in the quarter, further enhancing its balance sheet. Overall, Howmet raised its full-year 2025 guidance across all metrics, indicating a positive outlook for the remainder of the year.
linkJul 31, 2025 07:05:37
Howmet Aerospace announced its first quarter 2025 financial results, reporting record revenue of $1.94 billion, a 6% increase year over year, driven primarily by a 9% growth in the commercial aerospace market. The company also recorded a net income of $344 million, or $0.84 per share, compared to $243 million, or $0.59 per share, in the same quarter last year. Operating income rose by 34% to $494 million, with a significant operating income margin increase to 25.4%. Free cash flow was reported at $134 million, marking the eighth consecutive quarter of positive cash flow generation. Additionally, Howmet Aerospace repurchased $125 million of common stock in the first quarter and announced a $0.10 per share dividend, doubling the previous year's payout.
The company received an upgrade from Fitch Ratings, raising its long-term issuer default rating to BBB+, indicating a stronger credit profile. Howmet Aerospace has also widened its full-year 2025 guidance for revenue, adjusted EBITDA, adjusted EPS, and free cash flow, reflecting expectations of continued growth in the commercial aerospace sector despite some uncertainties in the North American market. The company highlighted strong performance across its Engine Products, Fastening Systems, and Engineered Structures segments, although it noted a decline in the Forged Wheels segment due to lower volumes in commercial transportation.
linkMay 01, 2025 07:00:27
Howmet Aerospace Inc. has made its 2024 Annual Report and Annual Shareholders Letter available on its website, detailing the company's achievements in 2024 and its market outlook for 2025. Additionally, the 2024 Environmental, Social and Governance Report is also accessible, highlighting the company's commitment to ESG performance. Both reports can be found on the company's website and the SEC's site.
The press release includes a disclaimer noting that the information provided is not to be considered 'filed' under the Securities Exchange Act. It also outlines various risks and uncertainties that could affect the company's future performance, such as economic conditions, supply chain disruptions, and competition. The company emphasizes that forward-looking statements are subject to numerous factors that could lead to actual results differing from expectations.
linkApr 16, 2025 16:55:14
Howmet Aerospace announced a revenue increase of 12% year-over-year for 2024, reaching $7.4 billion, largely due to a 20% growth in the commercial aerospace market. The company reported a net income of $1.2 billion, or $2.81 per share, which was a significant rise from $765 million, or $1.83 per share, in 2023. The fourth quarter also showed positive trends with revenues of $1.9 billion, up 9% year-over-year, and an operating income margin increase to 23.5%. The company generated $977 million in free cash flow, reflecting an 88% conversion of net income, and returned approximately $975 million to shareholders through stock repurchases and dividends. Additionally, a 25% increase in the common stock dividend was announced for Q1 2025.
Conversely, the Forged Wheels segment reported a decline in revenue, down 12% year-over-year for the fourth quarter, attributed to lower volumes in the commercial transportation market. This segment's full-year revenue also fell by 8%, indicating challenges in that area. Despite overall positive financial metrics, the company remains cautious about the commercial transportation market's recovery, which is expected to remain weak until the second half of 2025.
linkFeb 13, 2025 07:05:23
Howmet Aerospace reported a revenue increase of 11% year over year for the third quarter of 2024, reaching $1.84 billion. This growth was primarily driven by a 17% rise in the commercial aerospace market, although it faced a 12% decline in the commercial transportation sector. The company also saw a significant rise in net income, which was $332 million, compared to $188 million in the same quarter last year. Additionally, Howmet Aerospace reduced its debt by $282 million and repurchased $100 million in common stock during this period.
On the downside, the Forged Wheels segment experienced a revenue decrease of 14% due to lower volumes in the commercial transportation market and reduced aluminum cost pass-through. The adjusted EBITDA margins also saw a decline in this segment. Furthermore, the company noted that its operations faced challenges due to actions that restricted volumes shipped to Boeing and weaker market conditions in Europe. While the overall financial performance was positive, these sector-specific declines highlight areas of concern for the company moving forward.
linkNov 06, 2024 07:07:06
Howmet Aerospace Inc. has successfully completed its public offering of $500 million in 4.850% Notes due 2031, which will help the company manage its debt more effectively. The proceeds from this offering will be used to redeem its existing 2025 Notes, resulting in a significant reduction of approximately $21 million in annual interest expenses. This strategic move indicates the company's strong financial management and commitment to improving its financial position.
In addition to the successful offering, Howmet Aerospace has entered into a cross-currency swap to convert the 2031 Notes into a Euro liability, potentially benefiting from a lower interest rate. However, the company also faces various risks, including economic uncertainties and operational challenges, which could impact its performance. Overall, the completion of the notes offering and the planned redemption of higher-interest debt are positive steps for Howmet Aerospace's financial health.
linkAug 22, 2024 16:10:39
Howmet Aerospace has priced a $500 million debt offering with a lower interest rate than its existing notes, aiming to refinance $577 million of higher-interest debt due in 2025. This move could improve the company’s financial health, although it indicates reliance on debt financing. The offering is set to close on August 22, 2024.
linkAug 08, 2024 16:37:37
Howmet Aerospace plans to offer notes to raise funds for redeeming $577 million of its existing debt. The move could strengthen its financial position but depends on market conditions. The company is well-regarded in aerospace and transportation solutions, which supports its growth potential.
linkAug 08, 2024 09:25:19
The company reported a revenue of $1.88 billion, a 14% increase from last year, primarily due to a 27% rise in commercial aerospace. Net income rose to $266 million, up from $193 million last quarter, with earnings per share improving to $0.65. Operating income margin stood at 21.2%. The company generated significant cash flow and announced share repurchases and dividends. Guidance for Q3 and FY 2024 indicates continued growth in revenue and earnings.
linkJul 30, 2024 07:05:15
Howmet Aerospace achieved record revenue in Q1 2024, up 14% year over year, driven by commercial aerospace. Net income increased to $243 million with earnings per share at $0.59. The company reported strong operating income margin of 20.2% and deployed $150 million for common stock repurchases. Adjusted EBITDA and earnings per share also showed significant growth. Q2 and FY 2024 guidance indicate a positive outlook with expectations of increased revenue and profitability.
linkMay 02, 2024 07:05:19