Why Aerospace Company Howmet's Shares Are Jumping Today
Portfolio Pulse from Akanksha Bakshi
Howmet Aerospace Inc (HWM) reported a 16% YoY revenue growth to $1.66 billion in Q3 FY23, beating the consensus of $1.60 billion. The company's adjusted EPS improved by 28% YoY to $0.46, surpassing the consensus of $0.43. HWM repurchased $25 million of common stock during the quarter. The company's operating cash flow for the nine months ended September 30, 2023, was $443 million, compared to $278 million a year ago. The company expects a 7% YoY revenue growth in 2024.
November 02, 2023 | 4:13 pm
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Howmet Aerospace's Q3 FY23 results beat consensus estimates, with significant YoY growth in revenue and EPS. The company also repurchased $25 million of its common stock. The positive earnings report and stock repurchase could boost investor confidence, potentially driving the stock price up in the short term.
Howmet Aerospace's Q3 FY23 results exceeded consensus estimates, with a 16% YoY increase in revenue and a 28% YoY improvement in adjusted EPS. The company also repurchased $25 million of its common stock during the quarter. These positive results could boost investor confidence in the company, potentially leading to an increase in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100