Luwei Federal

Luwei Federal (on behalf of Miles Walton) requested additional color on how Howmet's spares business performed in Q4 and the full year 2025, specifically breaking down performance between commercial aerospace, defense, and industrial gas turbines (IGT), and shared thoughts for 2026.

Answer

Executive Chairman and CEO John Plant stated that Howmet's aggregate spares business grew over 30%, close to 33% for the full year 2025, exceeding the target of 20% of total revenue and reaching 21%. He noted that spares now represent about 40% of the engines business, with commercial aerospace spares growing nearly 40% within that. He expects this strong growth to continue into 2026, aiming for spares to remain a larger portion of Howmet's overall revenue picture.

Luwei Federal, asking on behalf of Miles Walton, requested additional details on how Howmet's spares business performed in the fourth quarter and full year 2025 across commercial aerospace, defense, and gas turbines, and the company's expectations for spares growth in 2026.

Answer

Executive Chairman and CEO John Plant reported that Howmet's aggregate spares business grew over 30%, nearing 33% for the year, exceeding the target of 20% of total revenue by reaching 21% in 2025. He specified that spares now constitute about 40% of the engines business, with commercial aerospace spares growing nearly 40%. Mr. Plant anticipates this growth to continue into 2026, hoping to maintain or increase spares as a larger portion of Howmet's overall revenue.