Howmet Aerospace Set to Report Q3 Earnings: Is a Beat in Store?

Core Viewpoint - Howmet Aerospace Inc. is expected to report strong third-quarter 2024 earnings, with a consensus estimate indicating significant revenue and earnings growth compared to the previous year [1][7]. Revenue Performance - The Engine products segment is projected to generate revenues of $945 million, reflecting a 17.9% increase from the third quarter of 2023, driven by strong demand in commercial aerospace and defense markets [3]. - The Fastening Systems segment is estimated to achieve revenues of$ 386 million, marking a 10.9% rise year-over-year, supported by growth in the commercial aerospace market [4]. - The Engineered Structures segment is expected to report revenues of $270 million, indicating an 18.9% increase from the previous year, bolstered by recovery in the commercial and defense aerospace markets [5]. - Conversely, the Forged Wheels segment is anticipated to see revenues of$ 258 million, representing a decline of 9.5% year-over-year, attributed to softness in the commercial transportation market [6]. Overall Financial Outlook - The overall revenue estimate for Howmet Aerospace is pegged at $1.85 billion, which indicates an 11.8% increase from the same quarter last year [7]. - The consensus estimate for adjusted earnings is set at 65 cents per share, reflecting a growth of 41.3% compared to the previous year [7]. Earnings Prediction - The company has a positive Earnings ESP of +1.86%, with the Most Accurate Estimate at$ 1.24 per share, higher than the Zacks Consensus Estimate of $1.22, suggesting a strong likelihood of an earnings beat [9].