Howmet Aerospace Reports Strong Q4 Earnings, Beats Estimates

PITTSBURGH, Feb. 24, 2023 (GLOBE NEWSWIRE) -- Howmet Aerospace Inc. (HWM) announced its fourth-quarter financial results today, reporting a profit of $314 million, or 77 cents per share. Excluding non-recurring gains, earnings came in at 74 cents per share, surpassing analysts' expectations.

Key Financials:

* Q4 2022 Revenue: $1.89 billion
* Q4 2022 Earnings Per Share: 74 cents (adjusted)
* Full-Year 2022 Revenue: $7.43 billion
* Full-Year 2022 Earnings Per Share: $2.81

Outlook:

For the first quarter of fiscal 2023, Howmet projects:

* Earnings Per Share: $0.75 - $0.76
* Revenue: $1.93 billion - $1.94 billion

For the full year 2023, the company anticipates:

* Earnings Per Share: $3.17 - $3.21
* Revenue: $8.03 billion - $8.13 billion

Howmet Aerospace continues to perform strongly, exceeding market expectations and demonstrating its position as a leader in engineered products for the aerospace industry.