PITTSBURGH-

Howmet Aerospace (NYSE:HWM):

First Quarter 2024 GAAP Financial Results

Revenue of $1.82 billion, up 14% year over year, driven by commercial aerospace, up 23%

Net income of $243 million versus $148 million in the first quarter 2023; earnings per share of $0.59 versus $0.35 in the first quarter 2023

Operating income margin of 20.2%

Generated $177 million of cash from operations; $178 million of cash used for financing activities; and $75 million of cash used for investing activities

Share repurchases of $150 million; $0.05 per share dividend on common stock

First Quarter 2024 Adjusted Financial Results

Adjusted EBITDA excluding special items of $437 million, up 21% year over year

Adjusted EBITDA margin excluding special items of 24.0%

Adjusted earnings per share excluding special items of $0.57, up 36% year over year

Generated $95 million of free cash flow

2024 Guidance: See full release at:

https://www.howmet.com/press-release/2024-05-02/howmet-aerospace-reports-first-quarter-2024-results/

(C) 2024 Electronic News Publishing, source ENP Newswire