Why Aerospace Company Howmet's Shares Are Higher Today
Portfolio Pulse from Lekha Gupta
Howmet Aerospace Inc (NYSE:HWM) shares rose after reporting strong Q4 FY23 results, with a 14% Y/Y revenue increase to $1.73 billion, surpassing the $1.65 billion consensus. Adjusted EPS grew 39% Y/Y to $0.53, beating the $0.47 consensus. The company also highlighted a positive outlook for FY24, expecting revenue between $7.00 billion and $7.20 billion and adjusted EPS of $2.10-$2.20. Howmet's optimistic outlook is supported by strong commercial aerospace demand and record backlogs at aircraft OEMs.
February 13, 2024 | 5:16 pm
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POSITIVE IMPACT
Howmet Aerospace Inc reported strong Q4 FY23 results with a 14% Y/Y revenue increase and a 39% Y/Y growth in adjusted EPS, surpassing consensus estimates. The company also provided a positive FY24 outlook, expecting significant revenue and EPS growth.
The positive earnings report and optimistic FY24 outlook, including expected revenue and EPS growth, are likely to instill investor confidence in Howmet Aerospace's financial health and future prospects. This, combined with the company's strong position in the aerospace sector and record backlogs at aircraft OEMs, suggests a positive short-term impact on HWM's stock price.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100