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Howmet Aerospace

HWM Q2 2025 Earnings

Reported Jul 31, 2025 at 7:05 AM ET · SEC Source

Q2 25 EPS

$0.91

BEAT +4.21%

Est. $0.87

Q2 25 Revenue

$2.05B

BEAT +2.28%

Est. $2.01B

vs S&P Since Q2 25

+37.2%

BEATING MARKET

HWM +53.3% vs S&P +16.1%

Market Reaction

Did HWM Beat Earnings? Q2 2025 Results

Howmet Aerospace posted a strong second quarter for 2025, beating Wall Street estimates on both the top and bottom lines as record revenue and expanding margins underscored the company's momentum in commercial and defense aerospace. The engineered co… Read more Howmet Aerospace posted a strong second quarter for 2025, beating Wall Street estimates on both the top and bottom lines as record revenue and expanding margins underscored the company's momentum in commercial and defense aerospace. The engineered components maker reported adjusted earnings per share of $0.91, ahead of the $0.87 consensus by 4.21%, while revenue climbed 9.2% year over year to $2.05 billion, topping estimates of $2.01 billion by 2.28%. The standout driver was broad-based aerospace demand, with defense aerospace revenue growing 21% and Engine Products, the company's largest segment, expanding 13% to $1.06 billion as Howmet added roughly 360 net headcount to support future production. Operating income margin widened 420 basis points to 25.4%, reflecting strong operational leverage across segments. Management raised full-year 2025 guidance across every key metric, lifting the adjusted EPS baseline to $3.60 and revenue to $8.13 billion, citing healthy passenger traffic, Boeing 737MAX build rate increases, and data center-driven industrial gas turbine demand as tailwinds heading into the second half.

Key Takeaways

  • • Commercial aerospace market growth of 8% year over year
  • • Defense aerospace market growth of 21% year over year
  • • Industrial and other market growth of 17% year over year, driven by industrial gas turbines and oil and gas
  • • Engine spares growth across all markets
  • • Productivity gains in Fastening Systems and Engineered Structures
  • • End of F-35 destocking benefiting Engineered Structures
  • • Adjusted EBITDA margin expansion of 300 basis points year over year to 28.7%
  • • Operating income margin expansion of 420 basis points year over year to 25.4%
24/7 Wall St

HWM YoY Financials

Q2 2025 vs Q2 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 another strong set of results in the second quarter 2025, exceeding the high end of guidance on all metrics. Howmet achieved a quarterly record in revenue, surpassing the $2 billion mark, and also drove quarterly records in Adjusted EBITDA* and Adjusted Earnings Per Share*. Adjusted EBITDA Margin* was solid at 28.7%, up 300 basis points year over year, while Free Cash Flow was a second-quarter record at $344 million and marked the ninth consecutive quarter of positive Free Cash Flow generation.”

— John Plant, Q2 2025 Earnings Press Release

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