Howmet Aerospace lifts dividend, annual forecasts on robust parts demand [Reuters]
Howmet Aerospace Inc. (HWM)
Company Research
Source: Reuters
its quarterly dividend by two cents per share thanks to robust demand for its engine products and fastening systems. Shares of the Pennsylvania-based company jumped 9.3% before the bell after it also reported better-than-expected results for the first quarter. A surge in post-pandemic travel demand has prompted plane manufacturers to buy more parts, benefiting suppliers such as Howmet, which counts Airbus SE and Boeing as its customers. Howmet now expects 2024 revenue between $7.23 billion and $7.38 billion, up from its prior forecast of $7 billion to $7.2 billion. The forecast assumes an average build rate of 20 737 MAX aircraft per month this year at Boeing, Howmet CEO John Plant said in a statement. The planemaker's production has dropped in recent weeks as it works to fix quality issues. "However, a more favorable demand outlook in other aspects of our business have driven an overall $200 million increase in Howmet Aerospace's full-year 2024 revenue guidance," Plant said
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HWM
News
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HWM
Earnings
- 5/2/24 - Beat
HWM
Sec Filings
- 5/14/24 - Form 4
- 5/14/24 - Form 4
- 5/14/24 - Form 4
- HWM's page on the SEC website