Welcome to our dedicated page for Howmet Aerospace news (Ticker: HWM), a resource for investors and traders seeking the latest updates and insights on Howmet Aerospace stock.
Howmet Aerospace Inc., headquartered in Pittsburgh, Pennsylvania, is a leading global provider of advanced engineered solutions for the aerospace and transportation industries. The company's primary businesses focus on jet engine components, aerospace fastening systems, and titanium structural parts essential for mission-critical performance and efficiency in aerospace and defense applications. Additionally, Howmet manufactures forged wheels for commercial transportation, which further showcases its diverse capabilities.
Howmet operates in four distinct segments: Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels. These segments are dedicated to producing innovative products such as airfoils with cooling and coatings for extreme temperature applications, fasteners for lightweight composite airframe construction, and lightweight aluminum commercial wheels. These advancements contribute to the development of lighter, more fuel-efficient aircraft that operate with a lower carbon footprint.
With nearly 1,150 granted and pending patents, Howmet's technologies ensure its products remain at the forefront of the industry. The company's commitment to innovation and quality is evident in its continuous efforts to create solutions that meet the evolving needs of its customers.
Howmet Aerospace (NYSE:HWM) announced that its Board of Directors has approved a dividend of $0.9375 per share on the company's $3.75 Cumulative Preferred Stock (Class A Stock). The dividend will be paid on January 1, 2025, to shareholders of record as of the close of business on December 13, 2024.
Howmet Aerospace (HWM) reported strong Q3 2024 results with revenue reaching $1.84 billion, up 11% year over year, driven by 17% growth in commercial aerospace, despite a 12% decline in commercial transportation. Net income increased to $332 million ($0.81 per share) from $188 million ($0.45 per share) in Q3 2023. The company achieved an operating income margin of 22.9% and generated $244 million in cash from operations. Notable financial actions included $282 million in debt reduction and $100 million in share repurchases. The company also provided preliminary 2025 revenue guidance projecting approximately 7.5% growth year over year.
Howmet Aerospace (NYSE:HWM) has announced that John C. Plant, Executive Chairman and Chief Executive Officer, will be presenting at the Baird 2024 Global Industrial Conference. The presentation is scheduled for Wednesday, November 13, 2024, at 1:00 PM ET. Investors can access a real-time webcast of the event through the company's website under the 'Investors/Events and Presentations' section. The webcast recording will remain available for 90 days after the presentation.
Howmet Aerospace Inc. (NYSE:HWM) has announced that it will release its third quarter 2024 financial results on Wednesday, November 6, 2024. The press release and presentation materials will be available at approximately 7:00 AM ET on the company's website. A conference call and webcast will follow at 10:00 AM ET, hosted by John Plant, Executive Chairman and CEO, and Ken Giacobbe, Executive VP and CFO.
Participants can join the call via U.S. Toll Free at +1-844-481-2703 or International Toll at +1-412-317-0659. Pre-registration is available. The webcast will be accessible on Howmet's website. A replay of the call will be available until November 20, 2024, at 11:59 PM ET, with various playback options provided.
Howmet Aerospace Inc. (NYSE:HWM) has announced a dividend payment for its shareholders. The company's Board of Directors has declared a dividend of 8 cents per share on the outstanding Common Stock. This dividend will be paid on November 25, 2024 to stockholders who are on record at the close of business on November 8, 2024. This announcement demonstrates Howmet Aerospace's commitment to returning value to its shareholders through regular dividend distributions.
Howmet Aerospace (NYSE: HWM) has announced its participation in the upcoming Jefferies Industrials Conference. The company's Chairman and CEO John C. Plant, along with CFO Ken Giacobbe, will be presenting on Thursday, September 5, 2024, at 10:25 AM ET.
Investors and interested parties can access a real-time webcast of the event through the "Investors/Events and Presentations" section of Howmet's official website. For those unable to attend live, a replay of the webcast will be available for 90 days following the presentation, providing ample opportunity for stakeholders to review the company's insights and updates.
Howmet Aerospace Inc. (NYSE:HWM) has announced the pricing of its public offering of $500 million aggregate principal amount of 4.850% Notes due 2031. The offering is expected to close on August 22, 2024, subject to customary conditions. The company plans to use the net proceeds, along with cash on hand, to redeem all outstanding principal (approximately $577 million) of its 6.875% Notes due 2025. J.P. Morgan Securities , Citigroup Global Markets Inc., Morgan Stanley & Co. , and SMBC Nikko Securities America, Inc. are acting as joint book-running managers for the offering.
Howmet Aerospace Inc. (NYSE: HWM) has announced a proposed offering of notes. The company intends to use the net proceeds, along with cash on hand, to redeem all outstanding principal (approximately $577 million) of its 6.875% Notes due 2025. The timing, pricing, and terms of the new Notes are subject to market conditions. J.P. Morgan Securities , Citigroup Global Markets Inc., Morgan Stanley & Co. , and SMBC Nikko Securities America, Inc. are acting as joint book-running managers for the offering. The Notes are being offered through an effective shelf registration statement filed with the SEC, with a prospectus supplement and accompanying prospectus available for interested investors.
Howmet Aerospace (NYSE:HWM) has received significant credit rating upgrades from two major rating agencies. Moody's Ratings upgraded Howmet's senior unsecured ratings by two notches from Baa3 to Baa1 on August 6, 2024. The commercial paper ratings were raised from P-3 to P-2, and preferred stock ratings from Ba2 to Baa3. Moody's also revised the rating outlook from positive to stable.
On the same day, Fitch Ratings affirmed Howmet's senior unsecured debt ratings at BBB, short-term and commercial paper ratings at F2, and preferred stock ratings at BB+. However, Fitch revised the rating outlook from stable to positive, indicating potential for further upgrades in the future.
These rating actions reflect a significant improvement in Howmet Aerospace's creditworthiness and financial stability, which could potentially lead to lower borrowing costs and improved investor confidence.
Howmet Aerospace (NYSE:HWM) reported strong second quarter 2024 results, with record quarterly revenue of $1.88 billion, up 14% year over year, driven by a 27% increase in commercial aerospace. The company achieved record operating income with a margin of 21.2%. Net income rose to $266 million, or $0.65 per share, compared to $193 million, or $0.46 per share, in Q2 2023.
Adjusted EBITDA excluding special items increased 31% to $483 million, with a margin of 25.7%. Free cash flow generation was strong at $342 million. Howmet raised its full-year 2024 guidance for all metrics and increased its common stock repurchase authorization by $2 billion to $2.487 billion. The company also announced a 60% higher Q3 2024 common stock dividend and a 2025 dividend policy payout ratio of 15% +/- 5%.
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