Earnings summaries and quarterly performance for Howmet Aerospace.
Executive leadership at Howmet Aerospace.
Board of directors at Howmet Aerospace.
Research analysts who have asked questions during Howmet Aerospace earnings calls.
SD
Scott Deuschle
Deutsche Bank
8 questions for HWM
Also covers: ATI, BA, BWXT +16 more
SK
Sheila Kahyaoglu
Jefferies
7 questions for HWM
Also covers: , AAL, AIR +36 more
MW
Myles Walton
Wolfe Research, LLC
6 questions for HWM
Also covers: , ATI, B +19 more
Robert Stallard
Vertical Research Partners
6 questions for HWM
Also covers: BA, BAESY, DRS +12 more
SS
Seth Seifman
JPMorgan Chase & Co.
6 questions for HWM
Also covers: AMTM, ATI, BA +23 more
Kristine Liwag
Morgan Stanley
5 questions for HWM
Also covers: , AER, AMTM +27 more
David Strauss
Barclays
4 questions for HWM
Also covers: ATI, BA, BWXT +16 more
DH
Douglas Harned
Sanford C. Bernstein & Co., LLC
4 questions for HWM
Also covers: , BA, GD +9 more
NP
Noah Poponak
Goldman Sachs
3 questions for HWM
Also covers: AMTM, BA, CACI +22 more
PA
Peter Arment
Robert W. Baird & Co.
3 questions for HWM
Also covers: AIN, AVAV, BA +20 more
RE
Ronald Epstein
Bank of America
3 questions for HWM
Also covers: , AER, AIN +27 more
DH
Doug Harned
Bernstein
2 questions for HWM
Also covers: BA, GE, HII +6 more
GK
Gautam Khanna
TD Cowen
2 questions for HWM
Also covers: ASLE, ATI, ATRO +21 more
JG
John Godin
Citi
2 questions for HWM
Also covers: BAH, BETA, CACI +3 more
Kenneth Herbert
RBC Capital Markets
2 questions for HWM
Also covers: , AIR, AMTM +24 more
LF
Luwei Federal
Wolfe Research
2 questions for HWM
MP
Mariana Perez Mora
Bank of America
2 questions for HWM
Also covers: AMTM, BAH, CACI +9 more
Scott Mikus
Melius Research
1 question for HWM
Also covers: AIR, BA, BAH +13 more
Recent press releases and 8-K filings for HWM.
Howmet Aerospace announces pricing of debt offering
HWM
Debt Issuance
M&A
- Howmet priced an underwritten public offering of $400 million 3.750% notes due 2028, $300 million 3.900% notes due 2029 and $500 million 4.750% notes due 2036, expected to close on March 3, 2026.
- The company intends to use net proceeds, together with $600 million of borrowings under its commercial paper program and cash on hand, to finance the approximately $1.8 billion purchase price for the proposed acquisition of Consolidated Aerospace Manufacturing, LLC.
- Citigroup, Goldman Sachs, J.P. Morgan and SMBC Nikko are acting as joint book-running managers for the offering.
Feb 17, 2026, 10:13 PM
Howmet Aerospace prices $1.2 B debt offering
HWM
Debt Issuance
M&A
- Howmet Aerospace priced an underwritten public offering of $400 M 3.750% notes due 2028, $300 M 3.900% notes due 2029, and $500 M 4.750% notes due 2036, totaling $1.2 B.
- The offering is expected to close on March 3, 2026, subject to customary closing conditions.
- Net proceeds, along with $600 M of borrowings under its commercial paper program or debt facilities and cash on hand, will finance the approximately $1.8 B purchase price for the proposed acquisition of Consolidated Aerospace Manufacturing, LLC.
- Joint book-running managers are Citigroup Global Markets, Goldman Sachs, J.P. Morgan Securities, and SMBC Nikko Securities America.
Feb 17, 2026, 10:03 PM
Howmet Aerospace proposes senior notes offering to fund CAM acquisition
HWM
Debt Issuance
M&A
- On February 17, 2026, Howmet Aerospace Inc. announced a proposed offering of senior notes, with pricing and terms subject to market conditions.
- The company plans to use net proceeds, together with $600 million of borrowings under its commercial paper program or debt facilities and cash on hand, to finance the approximately $1.8 billion purchase price for the proposed acquisition of Consolidated Aerospace Manufacturing, LLC.
- The offering will be made pursuant to an effective shelf registration statement, with a prospectus supplement and accompanying prospectus filed with the SEC.
Feb 17, 2026, 1:49 PM
Howmet Aerospace acquires Brunner Manufacturing
HWM
M&A
- Howmet Aerospace has acquired Mauston, WI–based Brunner Manufacturing Company, which will become part of Howmet Fastening Systems.
- Brunner is a leading maker of agricultural, industrial, and commercial vehicle fasteners, operating some of the world’s largest cold-heading machines and serving major equipment producers for over 60 years.
- The deal expands Howmet’s product portfolio and manufacturing capabilities in larger-size fasteners, structural threaded bolts, and specials.
- Angle Advisors acted as the exclusive investment banking advisor to Brunner in completing the transaction.
Feb 13, 2026, 8:44 PM
Howmet Aerospace reports Q4 2025 and full year results
HWM
Earnings
Guidance Update
Share Buyback
- Q4 revenue of $2.17 billion (+15%) and full-year revenue of $8.97 billion (+11%), with Q4 EBITDA of $653 million (+29%) and full-year EBITDA of $2.42 billion (+26%).
- Free cash flow of $1.43 billion (93% net income conversion) after record CapEx of $453 million, ending the year with $743 million in cash and net debt/EBITDA of 1×.
- Adjusted EPS of $1.05 in Q4 (+42%) and $3.77 for the full year (+40%), driven by strong margins (29.3% full-year, 30.1% Q4 exit rate).
- Q1 2026 guidance: Revenue $2.235 billion ±$10 million, EBITDA $685 million ±$5 million, EPS $1.10 ±$0.01. Full-year 2026 guidance: Revenue $9.1 billion ±$100 million, EBITDA $2.76 billion ±$50 million, EPS $4.45 ±$0.01, FCF $1.6 billion ±$50 million.
- Continued capital return with $200 million of Q4 share repurchases, $50 million of dividends, $55 million preferred redemptions, $125 million debt paydown, and a remaining $1.35 billion buyback authorization.
Feb 12, 2026, 3:00 PM
Howmet Aerospace reports Q4 and full-year 2025 results
HWM
Earnings
Guidance Update
M&A
- In Q4 2025, revenue was $2.17 billion (+15%) and EBITDA was $653 million (+29%), driving EPS of $1.05 (+42%); full-year revenue grew 11% to $8.99 billion with EBITDA up 26% to $2.42 billion and EPS of $3.77 (+40%).
- Record free cash flow of $1.43 billion (93% conversion) bolstered a $743 million year-end cash balance; capital deployment included $700 million in share repurchases in 2025 (Q4: $200 million; January–February 2026: $150 million), $181 million in dividends, and $265 million of debt reduction.
- Strong end-market growth: Q4 commercial aerospace +13% (engine spares +44% FY), defense aerospace +20%, and gas turbines +32%; segment highlights include Q4 Engine Products revenue of $1.16 billion (+20%) and EBITDA of $396 million (+31%).
- 2026 outlook: Q1 revenue of $2.235 billion ±$10 million, EBITDA $685 million ±$5 million, EPS $1.10 ±$0.01; full-year guidance of revenue $9.1 billion ±$100 million, EBITDA $2.76 billion ±$50 million, EPS $4.45 ±$0.01, and free cash flow $1.6 billion ±$50 million.
- Portfolio actions: closed acquisition of Brunner Inc. fasteners business to expand product offerings and agreed to acquire CAM aerospace fasteners and fittings business for $1.8 billion, enhancing strategic growth.
Feb 12, 2026, 3:00 PM
Howmet Aerospace reports Q4 2025 earnings
HWM
Earnings
Guidance Update
Share Buyback
- Q4 2025 revenue of $2.168 B, +15% YoY; Adjusted EBITDA excluding special items of $653 M, +29% YoY; Adjusted EBITDA margin of 30.1%, +330 bps; Adjusted EPS excluding special items of $1.05, +42% YoY.
- FY 2025 revenue of $8.252 B, +11% YoY; Adjusted EBITDA excluding special items of $2.416 B, +26% YoY; Adjusted EPS excluding special items of $3.77, +40% YoY.
- Generated Free Cash Flow of $1.43 B with 93% conversion; net debt-to-LTM EBITDA improved to 1.0x; ending cash balance of $743 M.
- Capital deployment included $700 M of share repurchases, $265 M of debt paydown (annualized interest savings ~$22 M), $181 M of dividends, and redemption of $55 M preferred stock.
- 2026 guidance: FY revenue baseline of $9.1 B (~10% YoY); Adjusted EBITDA baseline of $2.76 B (~14% YoY); Adjusted EPS baseline of $4.45 (~18% YoY); Free Cash Flow of $1.6 B with ~90% conversion.
Feb 12, 2026, 3:00 PM
Howmet Aerospace reports Q4 and FY 2025 results
HWM
Earnings
Share Buyback
Dividends
- Howmet delivered Q4 revenue of $2.17 billion (up 15% YoY) and full-year revenue up 11%, with Q4 EBITDA of $653 million (+29%) and FY EBITDA of $2.42 billion (+26%). Q4 EPS was $1.05 (+42%) and FY EPS rose 40%. Free cash flow was $1.43 billion, a 93% conversion of net income.
- The company executed record CapEx of $453 million in 2025 and deployed approximately $1.2 billion in capital: $700 million in share repurchases, $55 million to redeem preferred stock, $125 million to reduce debt, and $181 million in dividends. In Q4 alone, buybacks totaled $200 million, dividends $50 million, and an additional $150 million of buybacks completed in early 2026.
- All segments hit records in Q4: Engine Products revenue $1.16 billion (+20%), EBITDA $396 million (+31%, 34% margin); Fastening Systems revenue $454 million (+13%), EBITDA $139 million (+25%, 30.6%); Engineered Structures revenue $287 million (+4%), EBITDA $63 million (+24%, 22%); Forged Wheels EBITDA $79 million (+20%, 29.9% margin) on revenue up 9%.
- Balance sheet strength improved with net debt/EBITDA at 1×, $743 million cash, a $1 billion revolver unused, and unsecured fixed-rate debt. The UK pension plan was annuitized, reducing obligations by $128 million, and the dividend policy targets 15% ± 5% of adjusted net income (2025 dividends were 12% at $181 million).
Feb 12, 2026, 3:00 PM
Howmet Aerospace announces Q4 and full-year 2025 financial results
HWM
Earnings
Guidance Update
Share Buyback
- Howmet Aerospace reported Q4 2025 revenue of $2.2 billion (+15% YoY) and FY 2025 revenue of $8.3 billion (+11% YoY).
- Q4 GAAP EPS was $0.92 (+19% YoY) with Adjusted EPS of $1.05 (+42% YoY); FY GAAP EPS was $3.71 (+32% YoY) with Adjusted EPS of $3.77 (+40% YoY).
- Q4 generated $654 million of operating cash flow; full-year cash from operations was $1.9 billion, supporting $700 million of share repurchases and $265 million of debt reduction in 2025.
- M&A updates include a definitive agreement to acquire CAM for approximately $1.8 billion and completion of the Brunner Manufacturing acquisition on February 6, 2026.
- FY 2026 guidance targets ~10% revenue growth to $9.0–9.2 billion and Adjusted EPS of $4.35–4.55, with expectations of improved profit and cash generation.
Feb 12, 2026, 12:00 PM
Howmet Aerospace reports Q4 and full-year 2025 results
HWM
Earnings
Guidance Update
Share Buyback
- Howmet Aerospace posted Q4 2025 GAAP revenue of $2.2 billion (up 15% YoY) and net income of $372 million (EPS $0.92), generating $654 million of cash from operations.
- Full-year 2025 GAAP revenue reached $8.3 billion (up 11% YoY) with net income of $1.5 billion (EPS $3.71) and $1.9 billion of cash from operations.
- Q4 adjusted EBITDA was $653 million (up 29% YoY) with adjusted EPS of $1.05 (up 42% YoY); FY adjusted EBITDA totalled $2.4 billion (up 26% YoY) with adjusted EPS of $3.77 (up 40% YoY).
- Repurchased $200 million of common stock in Q4 and $700 million for the full year; declared a $0.12 quarterly dividend and $0.44 annual dividend.
- Issued FY 2026 guidance of ~10% revenue growth, with revenue of $9.0–9.2 billion, adjusted EPS of $4.35–4.55, and free cash flow of $1.55–1.65 billion.
Feb 12, 2026, 12:00 PM
Quarterly earnings call transcripts for Howmet Aerospace.
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