Published
{
"ticker": "HWM",
"cik": "0000004281",
"company": "Howmet Aerospace Inc.",
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"notes": [
"Annual figures (FY2023, FY2024, FY2025) come from the FY2025 Form 10-K (accession 0000004281-26-000012). The 10-K's balance sheet presents December 31, 2025 and December 31, 2024 only, so FY2023 carries an income statement and cash flow but no balance sheet.",
"Quarterly figures for Q2 2026 and the year-ago Q2 2025, and the six-month figures, come from the Q2 2026 Form 10-Q (accession 0000004281-26-000025). The Q2 2026 balance sheet is as of June 30, 2026.",
"The 10-Q prints its cash flow statement for the six months only. The three-month operating cash flow and free cash flow for Q2 2026 and Q2 2025, and the Q2 2026 three-month investing and financing cash flows, are taken from Howmet's Q2 2026 earnings release furnished on Form 8-K (accession 0001104659-26-091610, Exhibit 99.1), and each quarterly entry cites that filing as the source of its cash flow figures. Three-month capital expenditures ($104 million in Q2 2026, $102 million in Q2 2025) are printed in the 10-Q's segment-information note, in the reconciliation of segment capital expenditures to the cash flow statement; they are shown there as positive amounts and are recorded here as cash outflows. The year-ago quarter's three-month investing and financing cash flows are not printed in either filing and are omitted.",
"Free cash flow is a non-GAAP measure that Howmet defines as cash provided from operations less capital expenditures. The Q2 2026, Q2 2025 and six-month figures are as printed in the earnings release; the annual and trailing-twelve-month figures are computed here on the same definition from the cash flow statements.",
"Total debt is computed here as long-term debt due within one year plus short-term borrowings plus long-term debt less amount due within one year, as each is printed on the balance sheet. At June 30, 2026 short-term borrowings were $450 million of commercial paper; there were none at December 31, 2025 (the 10-K's balance sheet has no short-term borrowings line).",
"Restructuring and other charges are recorded as positive figures and credits as negative figures. The 10-K labels the line 'Restructuring and other charges'; the 10-Q labels it 'Restructuring and other credits'. The six months ended June 30, 2026 credit of $93 million is the gain on the March 31, 2026 sale of the disk forging facility in Savannah, Georgia; there was no restructuring charge or credit in either Q2 2026 or Q2 2025.",
"Net income attributable to common shareholders is the earnings-per-share numerator. It differs from net income by preferred dividends of about $2 million a year through 2025; Howmet redeemed all of its Class A preferred stock on December 17, 2025, so the two figures are equal in 2026.",
"Dividends declared per common share are taken from the statements of changes in consolidated equity: $0.17 (2023), $0.26 (2024), $0.44 (2025), $0.10 (Q2 2025), $0.12 (Q2 2026), $0.20 (six months 2025) and $0.24 (six months 2026).",
"On April 6, 2026 Howmet completed its purchase of Consolidated Aerospace Manufacturing (CAM) from Stanley Black & Decker for a cash price of approximately $1,812 million, net of cash acquired, and on February 6, 2026 it acquired Brunner Manufacturing for approximately $120 million. Both are in the Fastening Systems segment. Acquisitions used $1,929 million of cash in the six months ended June 30, 2026, which is why goodwill rose from $4,022 million to $5,084 million and intangibles from $457 million to $869 million between December 31, 2025 and June 30, 2026. The 10-Q says CAM was financed with notes issued in March 2026, commercial paper borrowings and cash on hand.",
"Segment results: in the first quarter of 2026 Howmet moved a titanium alloy location from Engine Products to Engineered Structures and recast the comparable 2025 periods in the 10-Q. The quarterly and six-month segment figures here (2026 and 2025) are on the recast basis. The annual segment figures are as originally reported in the FY2025 10-K, before that recast, so annual Engine Products and Engineered Structures figures are not directly comparable with the quarterly ones. Consolidated results were not affected. Segment Adjusted EBITDA is Howmet's segment profit measure; it excludes depreciation and amortization, restructuring and other charges or credits, special items and corporate expense.",
"The 10-Q's December 31, 2025 balance sheet shows prepaid expenses and other current assets of $409 million, whereas the 10-K showed $392 million, with other receivables of $17 million on a separate line. Total current assets ($3,779 million) are the same in both. Neither line is carried in this record.",
"The trailing-twelve-month figures for the period ended June 30, 2026 are computed as FY2025 (10-K, accession 0000004281-26-000012) less the six months ended June 30, 2025 plus the six months ended June 30, 2026 (both from the 10-Q, accession 0000004281-26-000025). Per-share amounts are not computed for this period."
],
"uncertainties": [
"The Q2 2025 three-month operating cash flow ($446 million) and free cash flow ($344 million) appear only in the summary table of the Q2 2026 earnings release (accession 0001104659-26-091610). The 10-Q prints six-month cash flows only, so these two figures could not be checked against a filed statement. They are consistent with the 10-Q's three-month capital expenditures for that quarter ($102 million = $446 million less $344 million).",
"The annual segment figures are on the pre-recast basis described in the notes. The recast annual 2025 segment totals that Howmet published in its earnings release are not part of the 10-K or 10-Q and are not included here."
],
"schema_template": "standard industrial (revenue / operating income / net income; balance sheet; cash flow; segment results)",
"schema_rationale": "Howmet is a manufacturer of engineered aerospace and transportation components, so a standard industrial layout fits. No gross profit line is reported: Howmet's income statement presents cost of goods sold exclusive of depreciation, amortization and other operating expenses, and does not print a gross profit subtotal. Segment results use the company's own segment measure, Segment Adjusted EBITDA.",
"reporting_currency": "USD",
"converted_to_usd": false,
"units": "actual U.S. dollars (not millions); per-share amounts in dollars; share counts in actual shares",
"fiscal_calendar_note": "Howmet's fiscal year is the calendar year (ends December 31). Q2 2026 is the three months ended June 30, 2026.",
"units_notes_seen": {
"FY2025 10-K statement of consolidated operations": "(in millions, except per-share amounts)",
"FY2025 10-K consolidated balance sheet": "(in millions)",
"FY2025 10-K statement of consolidated cash flows": "(in millions)",
"FY2025 10-K statement of changes in consolidated equity": "(in millions, except per-share amounts)",
"FY2025 10-K notes to the consolidated financial statements (segment information)": "(dollars in millions, except share and per-share amounts)",
"Q2 2026 10-Q statement of consolidated operations": "(in millions, except per-share amounts)",
"Q2 2026 10-Q consolidated balance sheet": "(in millions)",
"Q2 2026 10-Q statement of consolidated cash flows": "(in millions)",
"Q2 2026 10-Q statements of changes in consolidated equity": "(in millions, except per-share amounts) and (U.S. dollars in millions, except per-share amounts)",
"Q2 2026 10-Q notes to the consolidated financial statements (segment information)": "(dollars in millions, except share and per-share amounts)",
"Q2 2026 earnings release (8-K Exhibit 99.1) summary table": "Dollars in Millions; Per share amounts in dollars, diluted",
"Q2 2026 earnings release (8-K Exhibit 99.1) free cash flow reconciliation": "(in U.S. dollars millions)"
},
"adjustments": {
"splits_applied": [],
"adr_ratio": null,
"fx": "None. Howmet reports in U.S. dollars, so no currency conversion was applied.",
"splits_note": "No stock split affects the periods in this record.",
"adr_note": "Howmet's common stock trades directly on the New York Stock Exchange; it is not an ADR, so per-share figures are per common share."
},
"headline": {
"period": "Q2 FY2026",
"period_end_words": "June 30, 2026",
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"format": "usd",
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"text": "$2.55 billion",
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"abs": "$2.55 billion",
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"prior": "$2.05 billion",
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"yoy": "up 24.1%",
"source": {
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"index": 0,
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},
{
"label": "Net income",
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"abs": "$534 million",
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"prior": "$407 million",
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"yoy": "up 31.2%",
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},
{
"label": "Diluted EPS",
"format": "eps",
"value": 1.33,
"text": "$1.33",
"exact": "$1.33",
"compact": "$1.33",
"abs": "$1.33",
"prior_value": 1,
"prior": "$1.00",
"priorabs": "$1.00",
"yoy": "up 33.0%",
"source": {
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"index": 0,
"period_label": "Q2 2026",
"period_end": "2026-06-30",
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},
{
"label": "Engine Products sales",
"format": "usd",
"value": 1373000000,
"text": "$1.37 billion",
"exact": "$1,373,000,000",
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"abs": "$1.37 billion",
"prior_value": 1038000000,
"prior": "$1.04 billion",
"priorabs": "$1.04 billion",
"yoy": "up 32.3%",
"source": {
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"index": 0,
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"summary": "Howmet Aerospace reported $2.55 billion in revenue for Q2 FY2026, the quarter ended June 30, 2026, up 24.1% from a year earlier, as commercial aerospace, defense aerospace and gas turbine demand grew and the CAM and Brunner fastener acquisitions added sales. Net income was $534 million, up 31.2% from $407 million, and diluted earnings per share were $1.33, compared with $1.00. Engine Products, its largest segment, had third-party sales of $1.37 billion, up 32.3% from a year earlier.",
"qa": [
{
"q": "How much revenue did Howmet Aerospace report in Q2 FY2026?",
"a": "Howmet Aerospace reported $2.55 billion in revenue for Q2 FY2026, the quarter ended June 30, 2026. That is up 24.1% from $2.05 billion in the same quarter a year earlier."
},
{
"q": "What was Howmet Aerospace's net income in Q2 FY2026?",
"a": "Howmet Aerospace reported net income of $534 million for Q2 FY2026, the quarter ended June 30, 2026, up 31.2% from $407 million in the same quarter a year earlier."
},
{
"q": "What were Howmet Aerospace's earnings per share in Q2 FY2026?",
"a": "Howmet Aerospace earned $1.33 per diluted share in Q2 FY2026, the quarter ended June 30, 2026, up 33.0% from $1.00 in the same quarter a year earlier."
},
{
"q": "How did Howmet Aerospace's Engine Products segment do in Q2 FY2026?",
"a": "Howmet Aerospace's Engine Products segment, which makes castings and rolled rings for jet engines and industrial gas turbines, had third-party sales of $1.37 billion in Q2 FY2026, up 32.3% from $1.04 billion a year earlier. Howmet attributed the segment's growth to commercial aerospace, defense aerospace and gas turbines, including engine spares."
}
]
},
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"Exchange": "NYSE",
"State": "Pennsylvania",
"Incorporation": "Delaware",
"SIC": "3350",
"Office": "Manufacturing",
"Industry": "Rolling Drawing & Extruding of Nonferrous Metals"
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},
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},
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}
}
]
}
}