The aerospace supplier lifted full-year guidance following a 12% revenue increase in Q2, exceeding analyst estimates.
Howmet Aerospace reported Q2 revenue of $1.73 billion, up 12% year-over-year, surpassing consensus estimates of $1.68 billion. The company attributed the growth to robust demand in commercial aerospace and defense sectors, particularly for engine components and structural parts.
Prior to the report, analysts had expected modest growth, with revenue projections aligning closely with the previous quarter’s $1.65 billion. The company’s adjusted earnings per share of $0.58 also topped estimates, reflecting improved operational efficiency.
Following the announcement, Howmet’s stock rose 8% in premarket trading, reflecting investor confidence in the revised outlook. The company now expects full-year revenue between $6.8 billion and $6.9 billion, up from its previous range of $6.6 billion to $6.8 billion.