Howmet Aerospace sees strong Q1 earnings, suspends dividend [Seeking Alpha]
Arconic Corporation (ARNC)
Last arconic corporation earnings: 1/27 06:50 am
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Source: Seeking Alpha
On the Move|Howmet Aerospace sees strong Q1 earnings, suspends dividendApr. 14, 2020 4:50 PM ETHowmet Aerospace, Inc. (HWM)Carl SurranHowmet Aerospace (NYSE:Q1 preliminary adjusted EPSThe company says it has temporarily suspended its dividend to preserve cash and withdraws 2020 guidance due to uncertainty created by COVID-19.Adjusted free cash flow excluding separation costs for Q1 is expected in the range of negative $200M to negative $230M vs. negative $265M in the year-ago quarter.Howmet says it ended the quarter with a cash balance of $2.65B, and it expects to have a current cash balance of $850M after the early debt repayment of $1.3B earlier this month and a $500M allocation to Arconic Corp. in connection with the separation.+8.7%See all stocks on the move »Now read:Principal Income Fund declares $0.11 dividend »
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