Howmet Aerospace Q2: 18% Revenue Growth, Earnings Beat, Raised FY23 Guidance & More
Portfolio Pulse from Akanksha Bakshi
Howmet Aerospace Inc (NYSE:HWM) reported Q2 FY23 revenue growth of 18% YoY to $1.65 billion, beating the consensus of $1.61 billion. The revenue increase was driven by growth in the commercial aerospace market of 23%. Adjusted EPS improved to $0.44, beating the consensus of $0.43. The company also raised its FY23 outlook and intends to increase the quarterly dividend from $0.04 to $0.05 per share beginning 4Q23. Despite the positive report, HWM shares are trading lower by 4.7%.
August 04, 2023 | 9:47 am
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Howmet Aerospace reported strong Q2 FY23 results, beating revenue and EPS estimates, and raised its FY23 outlook. However, HWM shares are trading lower.
Howmet Aerospace reported strong Q2 FY23 results, beating both revenue and EPS estimates, and raised its FY23 outlook. This is generally positive news that would typically lead to a rise in the stock price. However, despite the positive earnings report, HWM shares are trading lower, indicating that other factors may be influencing the stock's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100