10-K · February 12, 2026
Howmet Aerospace reported strong performance in 2025, with revenues increasing by 11% to $8.25 billion and net income reaching $1.51 billion, up 31% from the previous year. The company primarily benefited from growth in…
Earnings analysis · 10-Q
HWM earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Howmet Aerospace's Q1 2026 results showed strong revenue and earnings growth, driven by increased demand in commercial aerospace and gas turbines. The company reported revenue of $2.31 billion, exceeding estimates by…
Read full summary
Howmet Aerospace's Q1 2026 results showed strong revenue and earnings growth, driven by increased demand in commercial aerospace and gas turbines. The company reported revenue of $2.31 billion, exceeding estimates by 3.19%, with an EPS of $1.44, beating expectations by 9.91%. Management raised its full-year guidance amid robust cash generation and strategic acquisitions.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.44
- Segment
- Engine Products
- Segment
- Fastening Systems
- Segment
- Engineered Structures
- Segment
- Forged Wheels
What stood out
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Robust Revenue Growth
Q1 2026 revenue reached $2.31 billion, a 19% increase from $1.94 billion in Q1 2025.
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Significant EPS Beat
Diluted EPS for Q1 2026 was $1.44, exceeding the consensus estimate of $1.11.
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Strong Free Cash Flow
Free cash flow improved to $453 million from $253 million year-over-year.
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Improved Gross and Operating Margins
Gross margin increased to 36.9% in Q1 2026 from 33.6% in Q1 2025.
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Strong Segment Performance in Engine Products
Engine Products saw a 29% sales growth to $1.25 billion, leading to a 44% increase in segment adjusted EBITDA.
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Increased Full-Year Guidance
Management raised 2026 revenue guidance to between $9.575 and $9.725 billion, reflecting strong market demand.
What to watch
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Geopolitical Tensions Impacting Demand
Future demand may be affected by geopolitical tensions and their effects on the aerospace market.
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Potential Supply Chain Disruptions
Increased risk of supply chain disruptions due to global market conditions could hinder operations.
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Interest Rate Increases
Rising interest rates could increase the company’s interest expenses significantly in upcoming quarters.
Management's outlook
Full-year 2026 guidance increased based on market demand and acquisitions.
Earlier filings 3
10-Q · October 30, 2025
Howmet Aerospace's Q3 2025 results showed continued growth with revenues of $2.09 billion, up 14% year-over-year. The company reported a gross margin of 34.7% and an operating margin of 26%, both representing…
10-Q · July 31, 2025
Howmet Aerospace's second quarter 2025 financial results show significant growth, with revenue reaching $2.05 billion, marking a 9% increase year-over-year. The company also reported a diluted EPS of $1.00, an increase…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.