Howmet Aerospace Reports First Quarter 2026 Results

Revenue up 19% Year over Year; GAAP EPS $1.44, Adjusted EPS $1.22  Record First Quarter Cash Generation; $300 Million Deployed for Common Stock Repurchases Full Year 2026 Guidance Increased Summary Financial Results First Quarter Dollars in Millions; Per share amounts in dollars, diluted    2026 2025 Change Revenue $2,313 $1,942 19 % GAAP Metrics Operating Income $753 $494 52 % Operating Income Margin 32.6 % 25.4 % 720 bps Earnings per Share (EPS) $1.44 $0.84 71 % Cash from Operations $453 $253 79 % Non-GAAP Metrics 1 Adjusted EBITDA $740 $560 32 % Adjusted EBITDA Margin 32.0 % 28.8 % 320 bps Adjusted Operating Income $666 $491 36 % Adjusted Operating Income Margin 28.8 % 25.3 % 350 bps Adjusted Earnings per Share (EPS) $1.22 $0.86 42 % Free Cash Flow $359 $134 168 % 1 For more information, see "Non-GAAP Financial Measures" and the schedules to this release Key Activity Secured financing for the acquisition of Consolidated Aerospace Manufacturing, LLC (CAM) Completed acquisition of CAM on April 6, 2026 for approximately $1.8 billion Sold disk forging facility in Savannah, GA on March 31, 2026 for approximately $230 million PITTSBURGH, May 7, 2026 /PRNewswire/ -- Howmet Aerospace (NYSE: HWM) announced results today for the first quarter 2026. Howmet Aerospace Executive Chairman and Chief Executive Officer John Plant said, "The Howmet team delivered a strong start to 2026, with revenue, adjusted EBITDA, adjusted EBITDA margin, and adjusted earnings per share all exceeding the high end of guidance.