Headquartered in Pittsburgh, PA Fiscal year ends December NYSE: HWM howmet.com
Howmet Aerospace Inc. (NYSE: HWM) supplies advanced engineered components for the aerospace, gas turbine and transportation industries. It reports four segments:
- Engine Products: airfoils and other engine components for commercial and defense aircraft engines and industrial gas turbines.
- Fastening Systems: aerospace and industrial fasteners. The segment was expanded in 2026 through the acquisitions of CAM (April 2026) and Brunner (February 2026).
- Engineered Structures: airframe structural components. The segment divested its Savannah, GA disk forging facility in March 2026.
- Forged Wheels: forged aluminum wheels for commercial trucks.
The company serves commercial aerospace, defense aerospace, gas turbine and commercial transportation markets, with significant exposure to new-build production and aftermarket spares. It holds approximately 1,200 granted and pending patents for technologies that enable lighter, more fuel-efficient aircraft and trucks. Howmet was formerly named Arconic Inc. and separated from Arconic Corporation in April 2020. Updated
Howmet's board just added $5 billion to the buyback authorization, taking it to $5.397 billion, after the strongest quarterly revenue growth in company history. EPS and revenue both beat expectations, and management already sees roughly $11.5 billion of revenue in 2027.
Looking forward to 2027, we envisage revenue of approximately $11.5 billion, representing approximately 12% growth from the increased 2026 guidance.
Howmet's CEO just handed investors a 2027 revenue target on the same call where he raised 2026 guidance, a rare double-forward commitment from an aerospace supplier whose customers keep blaming the supply chain for delays. Plant is effectively saying engine and airframe demand is booked well past next year.
Howmet's performance was solid in all dimensions, with third quarter results exceeding the high end of guidance. Revenue grew 29% year over year and 25% organically, the strongest quarterly growth rate on record for Howmet. Adjusted EBITDA margin expanded 310 basis points year over year to 32.5%.
Plant is calling the fastest quarterly growth in company history, and margins expanded alongside it. Jet engine parts demand is running hot enough that guidance was never the ceiling.
Of particular note was the 45% year-over-year gas turbines revenue growth, which demonstrates both the extraordinary addition to output and, even more importantly, the increase in market share. Demand in the gas turbines market continues to strengthen with customers looking to increase volumes beyond previous expectations, which supports the outlook beyond 2028.
Howmet's CEO is telling investors the power-generation side of the business is taking share, with customers pushing for volumes past what they had already committed to. The company is now anchoring its demand visibility beyond 2028, a long runway for an aerospace name most people still value on jet engines.
The Board of Directors authorized an increase in the share repurchase program by $5 billion to $5.397 billion, reflecting confidence in the Company's strong free cash flow outlook.
A buyback authorization worth roughly 7% of Howmet's $77.8 billion market cap is now sitting on the table, and management tied it directly to the free cash flow outlook heading into the aerospace production ramp.
A 4.09% slide to $194.40 strips roughly $3 billion off one of the best performing aerospace suppliers of the past two years. Keep an eye on whether the $202.70 open gets reclaimed before the close.
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Howmet Aerospace Inc. (NYSE: HWM) supplies advanced engineered components for the aerospace, gas turbine and transportation industries.
24/7 Wall St.'s 12-month price target for HWM is $275.98, rated Buy. The Wall Street consensus target is $324.55. HWM price prediction →
