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Howmet Aerospace

HWM Q1 2025 Earnings

Reported May 1, 2025 at 7:00 AM ET · SEC Source

Q1 25 EPS

$0.86

BEAT +10.70%

Est. $0.78

Q1 25 Revenue

$1.94B

BEAT +0.00%

Est. $1.94B

vs S&P Since Q1 25

+53.7%

BEATING MARKET

HWM +85.1% vs S&P +31.4%

Market Reaction

Did HWM Beat Earnings? Q1 2025 Results

Howmet Aerospace opened 2025 with a record-breaking first quarter, posting earnings per share of $0.86 against a consensus estimate of $0.78, a beat of 10.70%, while revenue of $1.94 billion matched analyst expectations and climbed 6.5% year over yea… Read more Howmet Aerospace opened 2025 with a record-breaking first quarter, posting earnings per share of $0.86 against a consensus estimate of $0.78, a beat of 10.70%, while revenue of $1.94 billion matched analyst expectations and climbed 6.5% year over year. The standout driver behind the profit strength was a remarkable expansion in operating leverage, with Adjusted EBITDA margin reaching 28.8%, up 480 basis points year over year, as the Engine Products segment alone grew revenue 13% to $996 million and lifted its Adjusted EBITDA 31% on broad demand across commercial aerospace, defense, and industrial gas turbines. The quarter also earned Howmet a Fitch credit upgrade to BBB+, reflecting the company's steadily fortified balance sheet. Despite acknowledging a fluid tariff environment, management expressed confidence in its ability to pass related costs through to customers, and raised its full-year 2025 baseline Adjusted EPS guidance to $3.40 alongside a revenue midpoint of $8.03 billion, while guiding Q2 EPS to $0.86 on revenue of approximately $1.99 billion.

Key Takeaways

  • • Commercial aerospace market growth of 9% year over year
  • • Strong defense aerospace demand driving Engineered Structures growth
  • • Industrial gas turbine demand fueled by data center expansion
  • • Margin expansion from productivity gains across Fastening Systems and Engineered Structures
  • • Engine Products absorbed approximately 500 net headcount in support of expected revenue increases
  • • Incremental operating income margin of 106% and incremental EBITDA margin of 104%
24/7 Wall St

HWM YoY Financials

Q1 2025 vs Q1 2024, source: SEC Filings

24/7 Wall St

HWM Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q1 26

“The Howmet team delivered a solid start to 2025, setting quarterly records in revenue, Adjusted EBITDA*, Adjusted EBITDA margin*, and Adjusted Earnings Per Share* while exceeding all aspects of our baseline guidance. Margin progression within the Fastening Systems and Engineered Structures segments was particularly noteworthy. Free cash flow was healthy at $134 million, up from $95 million in the prior year, and marked the eighth consecutive quarter of positive free cash flow generation.”

— John Plant, Q1 2025 Earnings Press Release

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