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Howmet Aerospace

HWM Q3 2025 Earnings

Reported Oct 30, 2025 at 7:05 AM ET · SEC Source

Q3 25 EPS

$0.95

BEAT +4.48%

Est. $0.91

Q3 25 Revenue

$2.09B

BEAT +2.15%

Est. $2.04B

vs S&P Since Q3 25

+22.6%

BEATING MARKET

HWM +30.6% vs S&P +7.9%

Market Reaction

Did HWM Beat Earnings? Q3 2025 Results

Howmet Aerospace posted a strong third quarter, reporting adjusted EPS of $0.95 against a consensus estimate of $0.91, a beat of 4.48%, while revenue of $2.09 billion topped the $2.04 billion consensus by 2.15% and grew 13.8% year over year, accelera… Read more Howmet Aerospace posted a strong third quarter, reporting adjusted EPS of $0.95 against a consensus estimate of $0.91, a beat of 4.48%, while revenue of $2.09 billion topped the $2.04 billion consensus by 2.15% and grew 13.8% year over year, accelerating sharply from the 8% pace seen in the first half of 2025. The primary engine behind the outperformance was the Engine Products segment, which generated $1.10 billion in third-party revenue, up 17% year over year, fueled by commercial aerospace, defense, and industrial gas turbine demand. Operating income margin expanded 300 basis points to 25.9%, while adjusted EBITDA climbed 26% to $614 million, and free cash flow reached a robust $423 million. The company raised full-year 2025 guidance across all metrics, targeting an adjusted EPS baseline of $3.67 and revenue of approximately $8.19 billion, and introduced 2026 revenue guidance of roughly $9 billion, representing approximately 10% growth, supported by commercial aircraft backlogs, defense demand, and data center-driven industrial gas turbine growth.

Key Takeaways

  • • Commercial aerospace market growth of 15% year over year
  • • Defense aerospace market growth of 24% year over year
  • • Industrial and other market growth of 18% year over year
  • • Engine spares growth in Engine Products segment
  • • Productivity gains in Fastening Systems driving 480 basis point EBITDA margin expansion
  • • Cost reductions in Forged Wheels offsetting 16% lower commercial transportation volumes
  • • Operating income margin expansion of 300 basis points year over year to 25.9%
24/7 Wall St

HWM YoY Financials

Q3 2025 vs Q3 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 drove a very strong third quarter, with results exceeding the high end of guidance on all metrics. Notably, revenue growth accelerated to 14% year over year, versus 8% growth in the first half, driven by healthy demand across the commercial aerospace, defense aerospace, and industrial and other markets. Adjusted EBITDA Margin was solid at 29.4%, up 290 basis points year over year. Free Cash Flow was $423 million after $108 million of capital expenditures, as Howmet continues to invest in growth, which is backed by customer contracts.”

— John Plant, Q3 2025 Earnings Press Release

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