Howmet Aerospace Flies High: Clocks 11% Revenue Growth In Q3 Despite Boeing Strike And European Weakness, Eyes Dividend Hike

Howmet Aerospace Inc. (NYSE:HWM) shares are trading higher after mixed third-quarter financial results and a revised annual outlook.

Revenue grew 11% year-over-year to $1.84 billion, missing the consensus of $1.852 billion, driven by growth in the commercial aerospace of 17% Y0Y.

Revenue by Segments: Engine Products $945 million (+18% YoY); Fastening Systems $392 million (+13% YoY); Engineered Structures $253 million (+11% YoY); and Forged Wheels $245 million (-14% YoY).

Adjusted EBITDA excluding special items was $487 million (+27% YoY), and the margin was 26.5%, up from 23% YoY. Operating income increased by 37.1% YoY to $421 million, and the margin expanded by 443 bps to 22.9%.

Adjusted EPS stood at $0.71 (+54% YoY), beating the consensus of $0.65.

Howmet Aerospace’s operating cash flow stood at $244 million, and its free cash flow was ...