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.
MW
Myles Walton
Wolfe Research, LLC
6 questions for HWM
Also covers: , ATI, B +19 more
SD
Scott Deuschle
Deutsche Bank
6 questions for HWM
Also covers: ATI, BA, BWXT +15 more
Kristine Liwag
Morgan Stanley
5 questions for HWM
Also covers: , AER, AMTM +27 more
SK
Sheila Kahyaoglu
Jefferies
5 questions for HWM
Also covers: , AAL, BA +35 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
Robert Stallard
Vertical Research Partners
4 questions for HWM
Also covers: BA, BAESY, DRS +11 more
SS
Seth Seifman
JPMorgan Chase & Co.
4 questions for HWM
Also covers: ATI, BA, CACI +21 more
NP
Noah Poponak
Goldman Sachs
3 questions for HWM
Also covers: AMTM, BA, CACI +22 more
RE
Ronald Epstein
Bank of America
3 questions for HWM
Also covers: , AER, AL +26 more
GK
Gautam Khanna
TD Cowen
2 questions for HWM
Also covers: ASLE, ATI, BA +20 more
Kenneth Herbert
RBC Capital Markets
2 questions for HWM
Also covers: , AIR, AMTM +24 more
MP
Mariana Perez Mora
Bank of America
2 questions for HWM
Also covers: AMTM, BAH, CACI +8 more
PA
Peter Arment
Robert W. Baird & Co.
1 question for HWM
Also covers: AIN, AVAV, BA +20 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 to Acquire Consolidated Aerospace Manufacturing
HWM
M&A
- Howmet Aerospace will acquire Consolidated Aerospace Manufacturing from Stanley Black & Decker for $1.8 billion in an all-cash transaction.
- The deal is expected to close in the first half of 2026, subject to customary conditions and approvals.
- Consolidated Aerospace Manufacturing is projected to generate $485 – 495 million in FY 2026 revenue and deliver an adjusted EBITDA margin exceeding 20%, resulting in an estimated 13× EBITDA multiple before synergies.
3 days ago
Howmet Aerospace to Acquire Consolidated Aerospace Manufacturing from Stanley Black & Decker
HWM
M&A
- Howmet Aerospace has entered into a definitive agreement to acquire Consolidated Aerospace Manufacturing (CAM) for an all-cash purchase price of $1.8 billion from Stanley Black & Decker.
- The transaction will expand Howmet’s portfolio of high-tech, mission-critical aerospace and defense fastening solutions.
- CAM is projected to generate $485–495 million in FY 2026 revenue with an adjusted EBITDA margin exceeding 20% before synergies.
- Expected favorable federal tax treatment and synergies aim for a FY 2026 adjusted EBITDA transaction multiple of approximately 13x, with closing anticipated in H1 2026.
3 days ago
Howmet Aerospace to redeem preferred stock
HWM
Dividends
- On November 17, 2025, Howmet Aerospace Inc. announced it will redeem all outstanding $3.75 Cumulative Preferred Stock on December 17, 2025, at $100 per share plus $0.8125 accrued dividends.
- As of November 14, 2025, there were 546,024 outstanding shares of the Preferred Stock.
- This Form 8-K does not constitute the official notice of redemption; a separate notice detailing terms and procedures will be provided to holders.
Nov 17, 2025, 11:04 AM
Howmet Aerospace closes $500M 4.550% Notes due 2032 offering
HWM
Debt Issuance
- Howmet Aerospace closed an underwritten public offering of $500 million aggregate principal amount of 4.550% Notes due November 15, 2032 under its existing indenture.
- The 4.550% Notes bear interest semi-annually on May 15 and November 15, commencing May 15, 2026.
- The Notes are redeemable at a make-whole price (Treasury rate + 10 bps) prior to September 15, 2032, and at par thereafter.
- Net proceeds will be used, together with cash on hand, to redeem $625 million of 2027 Notes at an estimated redemption price of approximately $652 million, yielding annual interest expense savings of approximately $14 million.
- A Seventh Supplemental Indenture, effective November 12, 2025, reduces the notice period for optional redemptions of new series from 15 to 10 days.
Nov 12, 2025, 9:13 PM
Howmet Aerospace prices $500 M debt offering
HWM
Debt Issuance
- Howmet Aerospace priced an offering of $500 million aggregate principal amount of 4.550% Notes due 2032, expected to close on November 12, 2025.
- The company will use net proceeds and cash on hand to redeem all approximately $625 million of its 5.90% Notes due 2027; notice of redemption was issued November 3, 2025 for redemption on December 3, 2025.
- The refinancing is expected to yield $14 million in annualized interest expense savings.
- Goldman Sachs, J.P. Morgan Securities, and Morgan Stanley are joint book-running managers for the offering.
Nov 3, 2025, 9:20 PM
Howmet Aerospace announces pricing of $500M 4.550% notes due 2032
HWM
Debt Issuance
- Howmet Aerospace priced an underwritten public offering of $500 million aggregate principal amount of 4.550% Notes due 2032, expected to close on November 12, 2025.
- Net proceeds, together with cash on hand, will be used to redeem approximately $625 million of 5.90% Notes due 2027, targeting $14 million in annualized interest expense savings.
- Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are serving as joint book-running managers for the offering.
Nov 3, 2025, 9:10 PM
Howmet Aerospace proposes senior notes offering and 2027 notes redemption
HWM
Debt Issuance
- On November 3, 2025, Howmet Aerospace announced a proposed offering of new senior notes, with net proceeds and cash on hand to redeem all outstanding principal of approximately $625 million of its 5.90% Notes due 2027.
- The company plans to issue a notice of redemption for the 2027 Notes with a redemption date of December 3, 2025, in accordance with the existing indenture.
- The aggregate redemption price is expected to be approximately $652 million, including accrued interest, calculated as the greater of (i) 100% of principal plus accrued interest or (ii) the present value of remaining payments discounted at the Treasury Rate plus 15 bps, plus accrued interest.
Nov 3, 2025, 1:39 PM
Howmet Aerospace reports Q3 2025 results
HWM
Earnings
Guidance Update
Share Buyback
- Delivered record Q3 revenue of $2.089 B (+14% YoY), adjusted EBITDA of $614 M (+26%), and adjusted EPS of $0.95 (+34%).
- Generated $423 M in free cash flow, improved net debt-to-LTM EBITDA to 1.1×, and ended the quarter with $660 M cash.
- Returned ~$311 M of capital via share buybacks, debt paydown, and dividends; repurchased $200 M of stock in Q3 at ~$182/share and raised the dividend to $0.12/share.
- Maintained FY 2025 guidance for
10% revenue growth to **$8.185 B**,24% adjusted EBITDA growth to **$2.375 B**, and ~36% adjusted EPS growth to $3.67; Q4 baseline revenue guidance of $2.10 B and EPS of $0.95.
Oct 30, 2025, 2:00 PM
Howmet Aerospace reports Q3 2025 results
HWM
Earnings
Guidance Update
Share Buyback
- Revenue was up 14% YoY, with Commercial Aerospace +15% (engine spares +38%), Defense Aerospace +24%, Industrial & Other +18%, partially offset by a 3% decline in Commercial Transportation.
- Adjusted EBITDA rose 26% YoY to over $600 million, driving a 29.4% margin (+290 bps), and EPS increased 34% to $0.95.
- Free cash flow was $423 million after $108 million capex, with YTD capex of $330 million; Q3 share repurchases totaled $200 million (YTD $600 million) and an early $63 million debt payoff reduced net leverage to 1.1× EBITDA.
- 2025 guidance was raised to revenue of $8.15 billion ± $10 million, EBITDA $2.375 billion ± $5 million, EPS $3.67 ± $0.01, and free cash flow $1.3 billion ± $25 million; 2026 revenue is targeted at ~$9 billion (≈10% growth).
Oct 30, 2025, 2:00 PM
Howmet Aerospace reports Q3 2025 results
HWM
Earnings
Guidance Update
CFO Change
- Howmet delivered 14% revenue growth, 26% EBITDA growth and 29% operating income growth in Q3 2025, with free cash flow of $423 million after $108 million of capex.
- Engines segment posted record revenue of $1.1 billion (+17%) and EBITDA of $368 million (+20%; 33.3% margin); Fastening Systems revenue rose to $448 million (+14%) with EBITDA of $138 million (+35%); Engineered Structures and Forged Wheels saw revenue up 14% to $289 million (EBITDA +53% to $58 million) and flat revenue with EBITDA +14% to $73 million, respectively.
- Capital deployment included $200 million of share buybacks in Q3 (YTD $600 million through October), a 20% dividend increase to $0.12/share, and early repayment of a $63 million term loan, reducing net leverage to 1.1x EBITDA.
- Updated guidance for Q4 2025: revenue $2.10 billion ±$10 million, EBITDA $610 million ±$5 million, EPS $0.95 ±$0.01; full-year 2025: revenue $8.15 billion ±$10 million, EBITDA $2.375 billion ±$5 million, EPS $3.67 ±$0.01, free cash flow $1.3 billion ±$25 million; 2026 revenue expected at $9 billion (+10%).
- CFO Ken Giacobbe announced his retirement after guiding the company to record‐low leverage and improved capital efficiency; Q3 exit share count was 405 million shares.
Oct 30, 2025, 2:00 PM
Quarterly earnings call transcripts for Howmet Aerospace.
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