Howmet Aerospace Soars On Strong Q2, Dividend Boost And Buybacks: Details
Portfolio Pulse from Lekha Gupta
Howmet Aerospace Inc. (NYSE:HWM) reported strong Q2 FY24 results, with revenue and EPS beating expectations. The company announced a $2 billion increase in its share repurchase program and a 60% increase in its quarterly dividend. The FY24 outlook was also raised. HWM shares are up 12.3% premarket.
July 30, 2024 | 12:32 pm
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Howmet Aerospace reported strong Q2 FY24 results, beating revenue and EPS expectations. The company announced a $2 billion increase in its share repurchase program and a 60% increase in its quarterly dividend. The FY24 outlook was also raised.
The strong financial performance, increased buyback program, and dividend boost are likely to positively impact HWM's stock price in the short term. The raised FY24 outlook further supports this positive sentiment.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Investors can gain exposure to Howmet Aerospace through the WBI BullBear Quality 3000 ETF, which may benefit from HWM's strong performance.
As WBIL includes HWM, the ETF may see a positive impact from HWM's strong performance and increased investor interest.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Investors can gain exposure to Howmet Aerospace through the SPDR S&P Aerospace & Defense ETF, which may benefit from HWM's strong performance.
As XAR includes HWM, the ETF may see a positive impact from HWM's strong performance and increased investor interest.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50