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Howmet Aerospace HWM Q1 2026 earnings

Reported May 7, 2026 · Before market open

Revenue$2.3BBeat by $74.4M
EPS$0.86Miss by $0.25
Revenue estimate$2.2B
EPS estimate$1.11
“The Howmet team delivered a strong start to 2026, with revenue, adjusted EBITDA, adjusted EBITDA margin, and adjusted earnings per share all exceeding the high end of guidance. Revenue growth accelerated to 19% year over year, driven by strong growth across our key end markets, and adjusted EBITDA margin expanded 320 basis points year over year to 32.0%. Free cash flow performance was outstanding at $359 million after spending $94 million in capital expenditures, supporting the future growth rate of the Company. The free cash flow also enabled $300 million in common stock repurchases.”
Howmet Aerospace Executive Chairman

Next report

Oct 29, 2026 (In 3 weeks)
Revenue estimate$2.6B
EPS estimate$1.37

Financials

Q1 2026

Income statement

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Revenue$2.3B+19.1%
Gross profit$854.0M+31.0%
Operating income$753.0M+52.4%
Net income$580.0M+68.6%
EPS (diluted)$1.44+71.4%

Balance sheet

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Cash & equivalents$2.4B+354%
Total debt$5.3B+52.1%
Total equity$5.5B+15.2%
Total assets$13.1B+21.3%

Cash flow

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Operating cash flow$453.0M+79.1%
CapEx$94.0M-21.0%
Free cash flow$359.0M+168%

Valuation & ratios

Valuation

as of 03/31/26
See full
Market cap$92.4B+75.9%
Enterprise value$95.26B+71.7%
P/E53×+11.1×
P/S10.7×+3.8×

Profitability

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Gross margin35%+2.9pp
Operating margin26.7%+3.4pp
Net margin20.2%+3.6pp
FCF margin19.2%+5.7pp

Returns & leverage

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Return on equity33.8%+5.5pp
Debt / equity1×+0.2×
Current ratio2.4×+0.1×

Segments

By product

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Aerospace - Commercial$1.2B+19.6%
Aerospace - Defense$366.0M+9.9%
Commercial Transportation$346.0M+13.4%
Gas Turbines$284.0M—

By segment

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Engine Products$1.3B+28.6%
Fastening Systems$471.0M+14.3%

FAQ

When did Howmet Aerospace report Q1 2026 earnings?
Howmet Aerospace (HWM) reported Q1 2026 earnings on May 7, 2026 before market open.
What were Howmet Aerospace's Q1 2026 revenue and EPS?
Howmet Aerospace reported revenue of $2.3B and eps of $0.86 for Q1 2026.
Did Howmet Aerospace beat estimates in Q1 2026?
Revenue beat the consensus estimate of $2.2B by $74.4M. EPS missed the consensus estimate of $1.11 by $0.25.
How did Howmet Aerospace's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 19.1% from $1.9B a year earlier and eps grew 0.0% from $0.86.
Where can I find Howmet Aerospace's Q1 2026 SEC filings?
You can read the 8-K earnings release (0001104659-26-056645) and the 10-Q periodic report (0000004281-26-000019) directly on SEC EDGAR. The filing index links above go to sec.gov.