Howmet Aerospace Boosts FY24 Adj. EPS Outlook, But Trims Revenue Outlook - Update

Howmet Aerospace

116.72 USD -0.39%

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(RTTNews) - While reporting financial results for the third quarter on Wednesday, Howmet Aerospace Inc. (HWM) raised its adjusted earnings guidance for the full-year 2024, while trimming annual revenue outlook. It also provided guidance for the fourth quarter.

For the fourth quarter, the company expects adjusted earnings in a range of $0.70 to $0.72 per share on revenues between $1.85 billion and $1.89 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.69 per share on revenues of $1.89 billion for the quarter. Analysts' estimates typically exclude special items.

For fiscal 2024, the company now projects adjusted earnings in a range of $2.66 to $2.67 per share on revenues between $7.39 billion and $7.43 billion.

Previously, the company expected adjusted earnings in a range of $2.53 to $2.57 per share on revenues between $7.40 billion and $7.48 billion.

The Street is looking for earnings of $2.59 per share on revenues of $7.45 billion for the year.

The company also said it expecta to increase the common stock dividend by 25 percent in the first quarter 2025 to $0.10 per share, subject to Board approval.

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