Howmet Aerospace Reports Solid Earnings, Raises Guidance, and Boosts Dividend
Thursday, 2 May 2024, 16:32
Strong results despite Boeing's issues
This under-the-radar aerospace manufacturer has exceeded expectations with robust financial performance supporting its growth trajectory. Howmet Aerospace reported earnings per share of $0.57 on revenue of $1.824 billion in the first quarter of the fiscal year.
Commercial aerospace sales see noticeable uptick
- 23% growth in year-over-year commercial aerospace sales
- 24% companywide EBITDA margin surpasses guidance
- First positive cash flow generation of $95 million in a quarter
Despite potential challenges related to Boeing's manufacturing issues, Howmet expects revenue uplift and dividend increments amidst market opportunities.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.