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Howmet Aerospace HWM Q2 2026 earnings

Reported August 6, 2026 · Before market open

Revenue$2.5BBeat by $119.1M
Adjusted EPS$1.33Beat by $0.09
Revenue estimate$2.4B
EPS estimate$1.24
“The Howmet team delivered a strong set of results, with revenue, adjusted EBITDA, adjusted EBITDA margin, and adjusted earnings per share all exceeding the high end of guidance. Revenue growth was healthy at 24% year over year and 21% excluding the net impact of the three asset transactions completed this year. Adjusted EBITDA margin expanded 340 basis points year over year to 32.1%, including the absorption of the CAM fastener acquisition in April. Free cash flow performance was excellent at $479 million after $104 million in capital expenditures, supporting the future growth rate of the Company. The free cash flow also enabled $800 million in common stock repurchases year to date through July, an amount already greater than total repurchases in 2025.”
John Plant

Next report

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

Financials

Q2 2026

Income statement

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Revenue$2.5B+24.1%
Gross profit$951.0M+38.2%
Operating income$711.0M+36.5%
Net income$534.0M+31.2%
EPS (diluted)$1.33+33.0%

Balance sheet

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Cash & equivalents$564.0M+3.3%
Total debt$5.1B+49.2%
Total equity$5.7B+13.7%
Total assets$13.3B+20.0%

Cash flow

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Operating cash flow$583.0M+30.7%
CapEx$104.0M+2.0%
Free cash flow$479.0M+39.2%

Valuation & ratios

Valuation

as of 10/02/26
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Market cap$91.08B+18.2%
Enterprise value$95.63B+20.0%
P/E48.7×-4.4×
P/S10×+0.3×

Profitability

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Gross margin36%+3.3pp
Operating margin27.4%+3.0pp
Net margin20.5%+2.4pp
FCF margin19.6%+6.5pp

Returns & leverage

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Return on equity34.7%+4.8pp
Debt / equity0.9×+0.2×
Current ratio1.8×-0.5×

Segments

By product

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Aerospace - Commercial$1.4B+28.2%
Aerospace - Defense$389.0M+10.5%
Commercial Transportation$372.0M+12.0%
Gas Turbines$321.0M—

By segment

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Engine Products$1.4B+32.2%
Fastening Systems$589.0M+36.7%

FAQ

When did Howmet Aerospace report Q2 2026 earnings?
Howmet Aerospace (HWM) reported Q2 2026 earnings on August 6, 2026 before market open.
What were Howmet Aerospace's Q2 2026 revenue and EPS?
Howmet Aerospace reported revenue of $2.5B and adjusted eps of $1.33 for Q2 2026.
Did Howmet Aerospace beat estimates in Q2 2026?
Revenue beat the consensus estimate of $2.4B by $119.1M. EPS beat the consensus estimate of $1.24 by $0.09.
How did Howmet Aerospace's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 24.1% from $2.1B a year earlier.
Where can I find Howmet Aerospace's Q2 2026 SEC filings?
You can read the 8-K earnings release (0001104659-26-091610) and the 10-Q periodic report (0000004281-26-000025) directly on SEC EDGAR. The filing index links above go to sec.gov.