Howmet Aerospace beats third-quarter estimates and raises 2026 outlook
The company also gave its first revenue target for 2027, about $11.5 billion.
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Howmet Aerospace reported third-quarter earnings of $1.46 a share, $0.08 above what was expected. Revenue was $2.70 billion, against $2.62 billion expected.
The bigger news is the outlook. The company raised its full-year 2026 revenue target to about $10.30 billion, up from about $10.05 billion. It raised its adjusted earnings target to about $5.50 a share, up from about $5.27. The higher outlook matters more to investors than the quarterly beat.
Chief executive John Plant said the commercial aerospace order backlog supports higher production in 2027. He said demand for gas turbines keeps strengthening. He also said he does not expect the Middle East conflict to materially affect demand for spare parts. Later quarters will show whether that holds.
The company set its first revenue target for 2027 at about $11.5 billion, roughly 12 per cent above the raised 2026 figure. It also raised its quarterly dividend 17 per cent, to $0.14 a share. The board added $5 billion to its share repurchase program, bringing total authorization to $5.397 billion.
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