Howmet Aerospace (NYSE:HWM) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Posted by Brian Himes on Oct 29th, 2026

Howmet Aerospace (NYSE:HWM – Get Free Report) released its quarterly earnings data on Thursday. The company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.09, FiscalAI reports. The company had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.59 billion. Howmet Aerospace had a net margin of 20.52% and a return on equity of 33.91%. Howmet Aerospace’s revenue was up 29.4% compared to the same quarter last year. During the same period last year, the business earned $0.95 earnings per share.

Here are the key takeaways from Howmet Aerospace’s conference call:

Q3 results exceeded guidance: Revenue rose 29% year over year to $2.7 billion, adjusted EBITDA increased 43% to $879 million, and adjusted EPS grew 54% to $1.46, with a 32.5% EBITDA margin.
Strong demand across commercial aerospace, gas turbines, defense and commercial transportation drove growth; industrial gas turbine revenue increased 45%, while commercial aerospace rose 32% and spares revenue grew 30% to approximately $570 million.
Management raised full-year 2026 guidance to $10.3 billion of revenue, $3.33 billion of EBITDA, $5.50 of EPS and approximately $2 billion of free cash flow, and initiated a 2027 revenue outlook of about $11.5 billion, representing roughly 12% growth.
Capital returns remain substantial, with $1.1 billion of share repurchases year to date, a 17% dividend increase and a new $5 billion buyback authorization; net leverage ended the quarter at approximately 1.3 times EBITDA.
Management cited risks from elevated fuel prices and potential winter travel disruption, while defense upside from missile production and inventory replenishment remains uncertain pending contract finalization and greater clarity on the 2027 defense budget.

Howmet Aerospace Trading Up 5.4%

Shares of HWM stock traded up $10.45 during trading hours on Thursday, reaching $205.64. The company’s stock had a trading volume of 5,826,917 shares, compared to its average volume of 3,603,216. The stock has a market capitalization of $82.28 billion, a P/E ratio of 42.90, a P/E/G ratio of 1.75 and a beta of 1.21. Howmet Aerospace has a one year low of $183.52 and a one year high of $310.00. The firm’s fifty day simple moving average is $230.48 and its 200 day simple moving average is $248.59. The company has a current ratio of 1.82, a quick ratio of 0.87 and a debt-to-equity ratio of 0.71.

Howmet Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Friday, November 6th will be issued a $0.14 dividend. The ex-dividend date is Friday, November 6th. This represents a $0.56 annualized dividend and a yield of 0.3%. Howmet Aerospace’s dividend payout ratio (DPR) is 12.07%.

Key Howmet Aerospace News

Here are the key news stories impacting Howmet Aerospace this week:

Positive Sentiment: Quarterly results exceeded expectations: Adjusted EPS was $1.46 versus the $1.37 consensus estimate, while revenue rose 29% year over year to $2.70 billion, ahead of the $2.59 billion forecast. EPS increased from $0.95 a year ago. Howmet Surpasses Q3 Earnings and Revenue Estimates
Positive Sentiment: Profitability and cash generation strengthened: Adjusted EBITDA increased 43% to $879 million, with the margin expanding to 32.5%. Operating cash flow reached $709 million and free cash flow rose 33% to $562 million, supporting shareholder returns. Howmet Aerospace Reports Third Quarter 2026 Results
Positive Sentiment: Management raised its outlook: Howmet increased full-year 2026 earnings guidance and forecast approximately $11.5 billion in 2027 revenue, representing roughly 12% year-over-year growth. Fourth-quarter adjusted EPS is expected to range from $1.49 to $1.51. Howmet Increases 2026 Earnings Guidance
Positive Sentiment: Shareholder returns expanded: The board authorized an additional $5 billion for stock repurchases, bringing total authorization to approximately $5.4 billion. Howmet also repurchased $500 million of shares during the quarter and increased its quarterly dividend by 17% to $0.14 per share. Howmet Updates Outlook and Increases Repurchase Plan
Neutral Sentiment: Valuation remains a consideration: Despite the favorable outlook and growth in aerospace-related demand, HWM trades at a relatively high earnings multiple, which could limit further gains if future results or guidance fail to meet elevated expectations. Is Howmet Aerospace Fairly Valued?

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on HWM shares. JPMorgan Chase & Co. boosted their price target on shares of Howmet Aerospace from $310.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. Guggenheim began coverage on shares of Howmet Aerospace in a research note on Monday, September 14th. They issued a “buy” rating and a $350.00 price objective for the company. Wells Fargo & Company dropped their price objective on Howmet Aerospace from $315.00 to $255.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 30th. BTIG Research raised their target price on shares of Howmet Aerospace from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Finally, Royal Bank Of Canada decreased their target price on shares of Howmet Aerospace from $350.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $310.29.

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Howmet Aerospace Company Profile

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Howmet Aerospace Inc (NYSE:HWM) is a global manufacturer of advanced engineered products and materials primarily serving the aerospace, defense, commercial transportation and industrial markets. The company develops components designed to operate in demanding environments where strength, durability and weight reduction are important.

Howmet’s product portfolio includes aircraft engine components, airframe structures, titanium and nickel-based forgings, fastening systems and wheels for commercial vehicles.