Howmet Aerospace Inc.
Howmet Aerospace Reports Strong Second Quarter 2024 Financial Results and Updates Guidance
Summary
Howmet Aerospace Inc. announced its second quarter 2024 financial results, showing record quarterly revenue of $1.88 billion, a 14% year-over-year increase, driven by strong growth in the commercial aerospace market. Net income was $266 million, or $0.65 per share, compared to $193 million, or $0.46 per share, in the second quarter 2023. The company also raised its full-year 2024 guidance for all metrics above the second quarter 2024 beat. Additionally, Howmet Aerospace repurchased $60 million of common stock in the second quarter 2024 and increased its share repurchase program by $2 billion to $2.487 billion. The company also declared a 60% increase in the third quarter 2024 common stock dividend to $0.08 per share.
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About Howmet Aerospace Inc.
Howmet Aerospace Inc. is a leading global provider of advanced engineered solutions for the aerospace industry. With a focus on high-performance multi-material products, the company plays a critical role in enhancing the efficiency, reliability, and safety of both commercial and military aircraft. Howmet Aerospace specializes in manufacturing precision parts such as jet engine components, fasteners, and titanium structural parts, serving major aerospace manufacturers and defense companies worldwide. The firm's technological expertise and innovation in materials science allow it to contribute significantly to advancements in aircraft design and performance. Headquartered in Pittsburgh, Pennsylvania, Howmet Aerospace operates through various plants and facilities around the world, evidencing its significant footprint and influence in the aerospace sector. Its products are integral to modern aircraft, underscoring its vital role in driving forward aerospace engineering and manufacturing capabilities.
Official SEC Documents
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