Financial Data and Key Metrics Changes - Revenue for Q1 2024 was $1.824 billion, up 14% year-over-year, with EBITDA increasing by 21% to $437 million, resulting in a record EBITDA margin of 24% [88][91] - Earnings per share reached $0.57, marking a 36% increase year-over-year and an 8% sequential increase [88][89] - Net debt to EBITDA improved to a record low of 2x, reflecting enhanced financial leverage and strong cash generation [72][93] Business Line Data and Key Metrics Changes - Engine Products revenue increased by 11% to $885 million, with commercial aerospace up 14% and defense aerospace up 13% [79] - Engineered Structures revenue rose 27% year-over-year to $262 million, driven by a recovery in commercial aerospace and defense aerospace [73] - Fastening Systems revenue increased by 25% year-over-year to $389 million, with commercial aerospace up 44% [124] Market Data and Key Metrics Changes - Commercial aerospace market grew by 23%, continuing a trend of 12 consecutive quarters of growth, representing approximately 50% of total revenue [78] - Asia-Pacific travel is recovering rapidly, now at approximately 90% of pre-pandemic levels, which is expected to drive future aircraft demand [101] - The defense aerospace market was strong, up 12%, driven by fighter programs and engine spares demand [119] Company Strategy and Development Direction - The company plans to increase its dividend by 40% in the second half of the year, pending Board approval [104] - Capital allocation will focus on share buybacks while maintaining the ability to pay down the 2024 bond [105] - The main thrust continues to be the expansion in the engines business to achieve market share increases [105] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding Boeing's production rates, particularly for the 737 MAX, which are expected to be lower than previously envisioned [74][129] - The company anticipates a revenue adjustment due to Boeing's production challenges but expects overall revenue to increase by approximately $200 million for 2024 [130] - Management remains optimistic about the long-term recovery in aerospace and defense markets, despite current volatility [55][130] Other Important Information - The company achieved a significant reduction in greenhouse gas emissions, tracking well towards its 2024 goals [100] - Total liquidity stands at approximately $2.5 billion, bolstered by a $1 billion commercial paper program [94][93] Q&A Session Summary Question: Can you clarify the production rates and expectations for Boeing? - Management noted that Boeing's production rates have been adjusted downwards, with a more secure assumption of approximately 20 aircraft per month for the year [74][129] Question: What is the outlook for the commercial aerospace market? - The company expects continued strong demand for air travel, with constraints during the summer season due to the availability of new aircraft [128] Question: How is the company managing its supply chain in light of Boeing's production issues? - Management indicated that they are making cautious assumptions regarding supply chain requirements and are prepared for potential adjustments [155][156]

This under-the-radar aerospace manufacturer is finally getting its due.Howmet Aerospace (HWM 15.96%) easily topped quarterly expectations, raised full-year guidance, and telegraphed a big boost to its dividend later this year. Investors are buying in, sending shares up 16% as of 11:15 a.m. ET.Strong results despite Boeing's issuesHowmet is a collection of jet engine and aerospace component businesses that were cobbled together by Alcoa before being spun out as an independent. The company earned $0.57 per sh ...

Q1 2024 Performance Highlights - Revenue reached $1.82 billion, a 14% increase year-over-year, driven by a 23% increase in Commercial Aerospace revenue[4, 17] - Adjusted EBITDA was $437 million, up 21% year-over-year, with an Adjusted EBITDA Margin of 24%, an increase of approximately 150 basis points[4, 78] - Adjusted Earnings Per Share was $0.57, a 36% increase year-over-year[4, 78] - The company generated a record Q1 Free Cash Flow of $95 million[12, 17] Segment Performance - Engine Products revenue increased by 11% year-over-year, with an Adjusted EBITDA Margin of 28.1%[79] - Fastening Systems revenue increased by 25% year-over-year, with an Adjusted EBITDA Margin of 23.7%[72] - Engineered Structures revenue increased by 27% year-over-year, with an Adjusted EBITDA Margin of 14.1%[67] - Forged Wheels revenue was approximately flat year-over-year, with an Adjusted EBITDA Margin of 28.5%[64, 75] FY 2024 Guidance - The company expects revenue to increase by approximately 10% year-over-year[16, 19] - Adjusted EBITDA is expected to increase by approximately 16% year-over-year[16, 19] - Adjusted Earnings Per Share is expected to increase by approximately 28% year-over-year[16, 19] - Free Cash Flow is projected to be approximately $800 million, up approximately 17% year-over-year, with a Free Cash Flow Conversion of approximately 85%[16, 103] Capital Deployment and Balance Sheet - Approximately $170 million was allocated for common stock repurchases and quarterly dividends[4, 86] - $150 million was used to repurchase common stock[12] - Net Debt-to-LTM EBITDA improved to a record low of 20x[12, 84]

Howmet (HWM) came out with quarterly earnings of $0.57 per share, beating the Zacks Consensus Estimate of $0.52 per share. This compares to earnings of $0.42 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 9.62%. A quarter ago, it was expected that this maker of engineered products for the aerospace and other industries would post earnings of $0.46 per share when it actually produced earnings of $0.53, delivering a surprise of ...

Exhibit 99.1 FOR IMMEDIATE RELEASE Investor Contact Media Contact Paul T. Luther Rob Morrison (412) 553-1950 (412) 553-2666 Paul.Luther@howmet.com Rob.Morrison@howmet.com Howmet Aerospace Reports First Quarter 2024 Results Record Quarterly Revenue, Up 14% Year Over Year; Strong Profit and Cash from Operations $150 Million Deployed for Common Stock Repurchases Full Year 2024 Guidance Increased First Quarter 2024 GAAP Financial Results First Quarter 2024 Adjusted Financial Results 2024 Guidance | | | Q2 2024 ...

Howmet Aerospace Inc. (HWM) is scheduled to release first-quarter 2024 earnings on May 2 before market open.The Zacks Consensus Estimate for earnings has remained steady in the past 60 days. HWM has an impressive earnings surprise history. Its earnings beat the consensus estimate in each of the preceding four quarters, delivering an average surprise of 8.8%.Let’s see how things might have shaped up prior to the announcement.Factors to NoteThe company’s Engine products segment is expected to have benefited f ...

Investors interested in Engineering - R and D Services stocks are likely familiar with Sterling Infrastructure (STRL) and Howmet (HWM) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The proven Zacks Rank emphasizes com ...

Aerospace - Defense + Defense Engine Build Rates / Spares Growth Fastening Systems: Revenue +26% Q4 YoY; Adj EBITDA Margin 22.2% Aerospace - Commercial Q4 2023 YoY + Net Headcount up ~50 in Q4; up ~435 FY23 $182M $185M $193M $230M $207M $200M $227M $244M Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 +6% 3rd Party Revenue + Wide Body Recovery - Defense Aero Decline 9 Segment Adjusted EBITDA and Margin - Volumes down 3% Q4 Sequentially FY 2023 Debt Reduction / Refinance: $200M $400M $600M $8 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Fiscal Year Ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 1-3610 HOWMET AEROSPACE INC. (Exact name of registrant as specified in its charter) Delaware 25-0317820 (State of incorporation) (I.R.S. Employer Identification No. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 1-3610 HOWMET AEROSPACE INC. (Exact name of registrant as specified in its charter) Delaware 25-0317820 (State of incorporation) (I.R.S. Employer Identification N ...