Howmet (HWM) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Howmet (HWM) reported revenue of $1.88 billion for the quarter ended June 2024, reflecting a year-over-year increase of 14.1% and an EPS of $0.67 compared to $0.44 a year ago [13]. Revenue Performance - Total Sales for Engine Products reached $394 million, exceeding the average estimate of $381.50 million by three analysts, representing a year-over-year change of +19.8% [14]. - Total Sales for Forged Wheels amounted to $40 million, surpassing the average estimate of $36.64 million by three analysts [5]. - Total Sales for Fastening Systems was reported at $278 million, slightly below the three-analyst average estimate of $287.15 million, indicating a year-over-year decline of -6.7% [15]. - Total Sales for Engineered Structures reached $290 million, exceeding the average estimate of $286.49 million by two analysts, representing a year-over-year increase of +10.7% [23]. End Market Revenue - End Market Revenue for Aerospace - Commercial was reported at $265 million, slightly below the average estimate of $267.08 million, reflecting a year-over-year increase of +3.9% [4]. - End Market Revenue for Aerospace - Defense was $346 million, which is below the two-analyst average estimate of $350.19 million, showing a year-over-year decline of -3.9% [10]. - End Market Revenue for Industrial and Other was reported at $292 million, exceeding the average estimate of $258.58 million by three analysts [25]. Adjusted EBITDA - Adjusted EBITDA for Engine Products was $75 million, below the average estimate of $79.63 million based on three analysts [11]. - Adjusted EBITDA for Forged Wheels was reported at $40 million, exceeding the average estimate of $36.64 million [5]. - Adjusted EBITDA for Engineered Structures reached $101 million, surpassing the three-analyst average estimate of $90.88 million [26]. Stock Performance - Shares of Howmet have returned +7.2% over the past month, outperforming the Zacks S&P 500 composite's +0.1% change, with a current Zacks Rank 3 (Hold) indicating potential performance in line with the broader market [21].