Howmet Aerospace Provides Business Update Related to COVID-19
Howmet Aerospace Inc. (HWM)
Company Research
Source: Business Wire
Key AnnouncementsCOVID-19 impact on operationsCost cutting programDividend suspension to preserve cash and provide additional flexibilityCompany to provide updated 2020 outlook with its first quarter 2020 earnings release PITTSBURGH--(BUSINESS WIRE)--Howmet Aerospace, Inc. (NYSE: HWM) indicated that certain original equipment manufacturer (“OEM”) customers have suspended manufacturing operations in North America and Europe on a temporary basis due to matters associated with COVID-19 (coronavirus). These temporary suspensions are impacting operations at certain Howmet Aerospace facilities. As a result, the Company is taking a series of actions to address the financial impact.Howmet Aerospace has commenced plans to reduce costs and is targeting approximately $100M of run rate savings.In addition, the Company has suspended the dividend on its Common Stock, preserving cash and providing additional flexibility in the current environment.Although the Company is currently unable to reason
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News
- Howmet Aerospace Inc. (NYSE: HWM) had its "sell" rating re-affirmed by analysts at Northcoast Research. They now have a $70.00 price target on the stock.MarketBeat
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HWM
Earnings
- 5/2/24 - Beat
HWM
Sec Filings
- 6/13/24 - Form 11-K
- 6/4/24 - Form 4
- 6/3/24 - Form 144
- HWM's page on the SEC website