Howmet Aerospace Boosts FY24 Outlook; Guides Q2 Well Above View - Update

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Howmet Aerospace Boosts FY24 Outlook; Guides Q2 Well Above View - Update

(RTTNews) - While reporting financial results for the first quarter on Thursday, Howmet Aerospace Inc. (HWM) raised its adjusted earnings and revenue guidance for the full-year 2024 and provided guidance for the second quarter, well above estimates. For the second quarter, the company expects adjusted earnings in a range of $0.57 to $0.59 per share on revenues between $1.825 billion and $1.845 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.54 per share on revenues of $1.77 billion for the quarter. Analysts' estimates typically exclude special items.

For fiscal 2024, the company now projects adjusted earnings in a range of $2.31 to $2.39 per share on revenues between $7.225 billion and $7.375 billion.

Previously, the company expected adjusted earnings in a range of $2.10 to $2.20 per share on revenues between $7.00 billion and $7.20 billion.

The Street is looking for earnings of $2.20 per share on revenues of $7.15 billion for the year.

The Company also said it expects to increase the quarterly common stock dividend to $0.07 per share beginning in the third quarter 2024, subject to the discretion and approval of the Board of Directors.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

टैग: HWM
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