S&P 500
7,633.20
+0.31%
Dow Jones
53,893.00
+1.14%
Nasdaq 100
29,106.20
+0.99%
Russell 2000
2,995.41
+0.37%
FTSE 100
10,904.40
+0.20%
Nikkei 225
64,309.90
+1.28%
Howmet Aerospace

Howmet Aerospace (HWM) Q2 2026 Earnings

Reported Aug 6, 2026 at 7:00 AM ET · SEC Source

Q2 26 EPS Adjusted

$1.33

BEAT +6.72%

Est. $1.25

Q2 26 Revenue

$2.55B

BEAT +4.85%

Est. $2.43B

Market Reaction

Did HWM Beat Earnings? Q2 2026 Results

Howmet Aerospace delivered a standout second quarter for fiscal 2026, beating Wall Street expectations on both the top and bottom lines and extending its streak of consensus EPS beats to five consecutive quarters. The aerospace components maker poste… Read more Howmet Aerospace delivered a standout second quarter for fiscal 2026, beating Wall Street expectations on both the top and bottom lines and extending its streak of consensus EPS beats to five consecutive quarters. The aerospace components maker posted adjusted EPS of $1.33, topping the $1.25 consensus estimate by 6.72%, while revenue of $2.55 billion exceeded the $2.43 billion consensus by 4.85% and rose 24.1% year over year. The primary engine behind the quarter was surging demand across commercial aerospace and gas turbines, with Engine Products revenue climbing 32% to $1.37 billion and adjusted EBITDA margin expanding 470 basis points to 37.7%. The April completion of the CAM fastener and fluid fittings acquisition from Stanley Black & Decker for roughly $1.80 billion added further momentum, with integration proceeding on schedule. Analysts had been closely watching aircraft production rates and acquisition execution heading into the print, and management answered with raised full-year guidance, now targeting revenue of $10.00 billion to $10.10 billion and adjusted EPS of $5.23 to $5.31 for 2026.

Key Takeaways

  • • Commercial aerospace market growth of 28% year over year
  • • Gas turbines market growth of 38% year over year
  • • Defense aerospace market growth of 11% year over year
  • • Adjusted EBITDA margin expansion of 340 basis points year over year to 32.1%
  • • Engine Products segment EBITDA margin expanded 470 bps to 37.7%
  • • CAM acquisition contributing to Fastening Systems revenue growth
  • • Cost reductions in Forged Wheels offsetting lower volumes

HWM Forward Guidance & Outlook

Full-year 2026 guidance was increased: revenue of $10,000M–$10,100M (baseline up $400M), adjusted EBITDA of $3,210M–$3,250M (baseline up $170M, margin ~32.1–32.2%), adjusted EPS of $5.23–$5.31 (baseline up $0.33), and free cash flow of $1,850M–$1,950M (baseline up $150M). Q3 2026 guidance: revenue $2,565M–$2,585M, adjusted EBITDA $825M–$835M (margin 32.2–32.3%), adjusted EPS $1.34–$1.36. All major end markets are in growth mode — commercial aerospace supported by record backlogs, gas turbines demand described as extraordinary, defense markets healthy with growth expected in missiles, drones, and collaborative combat aircraft, and commercial transportation beginning recovery. Capital expenditure requirements are expected to increase further in 2027 to support organic growth in aerospace and gas turbines.

24/7 Wall St

HWM YoY Financials

Q2 2026 vs Q2 2025, source: SEC Filings

24/7 Wall St

HWM Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q2 26

“The Howmet team delivered a strong set of results, with revenue, adjusted EBITDA, adjusted EBITDA margin, and adjusted earnings per share all exceeding the high end of guidance. Revenue growth was healthy at 24% year over year and 21% excluding the net impact of the three asset transactions completed this year. Adjusted EBITDA margin expanded 340 basis points year over year to 32.1%, including the absorption of the CAM fastener acquisition in April. Free cash flow performance was excellent at $479 million after $104 million in capital expenditures, supporting the future growth rate of the Company. The free cash flow also enabled $800 million in common stock repurchases year to date through July, an amount already greater than total repurchases in 2025.”

— John Plant, Q2 2026 Earnings Press Release

Back to HWM Stock Page