NYSE$HWM
Howmet Aerospace Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Howmet Aerospace reported strong Q4 2022 results with revenue growth driven by commercial aerospace and increased profitability.
Howmet Aerospace reported Q4 2022 revenues of $1.5 billion, up 18% year-over-year, driven by growth in the commercial aerospace market. Net income was $111 million, or $0.26 per share, compared to $77 million, or $0.18 per share, in Q4 2021. Net income excluding special items was $160 million, or $0.38 per share, versus $130 million, or $0.30 per share, in Q4 2021.
- Revenue increased by 18% year over year to $1.5 billion, driven by Commercial Aerospace growth of 29%.
- Net income reached $111 million, or $0.26 per share, compared to $77 million, or $0.18 per share in Q4 2021.
- Adjusted EBITDA excluding special items rose by 14% year over year to $336 million.
- The company generated $410 million in free cash flow.
Headline financials
Revenue & EPS history
Howmet Aerospace · Revenue · Quarterly
$1.51B
Revenue by segment
Howmet Aerospace · $1.51B total across 4 segments · Q4 2022
- Engine Products$732M+21.0%48.4%
- Fastening Systems$285M+11.3%18.8%
- Forged Wheels$266M+13.7%17.6%
- Engineered Structures$230M+21.1%15.2%
Forward guidance
Howmet Aerospace provided guidance for Q1 2023 and Full Year 2023. The company expects higher Adjusted EBITDA excluding special items to drive growth in Adjusted Earnings per Share excluding special items in full year 2023.
Tailwinds
- Revenue $1.475B - $1.525B (Q1 2023) and $6.000B - $6.200B (FY 2023)
- Adj. EBITDA $325M - $345M (Q1 2023) and $1.335B - $1.415B (FY 2023)
- Adj. EBITDA Margin 22.0% - 22.6% (Q1 2023) and 22.3% - 22.8% (FY 2023)
- Adj. Earnings per Share $0.35 - $0.39 (Q1 2023) and $1.53 - $1.67 (FY 2023)
- Free Cash Flow $580M - $650M (FY 2023)
Headwinds
- Reconciliations of the forward-looking non-GAAP measures to the most directly comparable GAAP measures are not available without unreasonable efforts.
- Reconciliations are not available due to the variability and complexity of the charges and other components excluded from the non-GAAP measures.
- There is inherent variability already included in the GAAP measures, including, but not limited to, price/mix and volume.
- Full Year 2023 Guidance assumes the following aircraft build rates: Boeing 737-MAX: approximately 30 builds per month on average
- Full Year 2023 Guidance assumes the following aircraft build rates: Airbus A320 family: approximately 53-54 builds per month on average
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2022
+1.6%
Avg return
Earnings day
+3.0%
Avg return
5 days after
+5.9%
Avg return
30 days after
60%
43 / 72 earnings
Positive
+22.0%
Q3 2020
Best reaction
-21.2%
Q1 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | +6.3% | +4.0% | -1.7% | |
| Q1 2026 | +2.8% | +4.0% | -1.7% | |
| Q3 2025 | -0.8% | +0.8% | +0.5% | |
| Q2 2025 | -6.4% | -6.7% | -9.4% | |
| Q1 2025 | +6.8% | +12.4% | +22.6% | |
| Q4 2024 | -0.0% | +6.7% | -1.2% | |
| Q3 2024 | +8.9% | +12.3% | +15.8% | |
| Q2 2024 | +15.5% | +8.8% | +17.0% | |
| Q4 2023 | +7.7% | +6.8% | +11.3% | |
| Q3 2023 | +7.3% | +7.9% | +18.3% | |
| Q2 2023 | -6.0% | -4.1% | -3.3% | |
| Q1 2023 | +0.9% | -0.7% | -1.3% | |
| Q4 2022 | +5.7% | +4.7% | -1.5% | |
| Q3 2022 | +0.9% | -0.4% | +4.1% | |
| Q2 2022 | -0.5% | +0.6% | -5.9% | |
| Q1 2022 | +8.0% | +3.5% | +9.3% | |
| Q4 2021 | +2.8% | +3.8% | +7.1% | |
| Q3 2021 | +9.8% | +8.7% | -4.5% | |
| Q2 2021 | -4.1% | -4.4% | -4.9% | |
| Q1 2021 | +3.8% | +0.2% | +8.8% | |
| Q4 2020 | +4.7% | +6.2% | +16.3% | |
| Q3 2020 | +22.0% | +18.6% | +35.0% | |
| Q2 2020 | +5.5% | +13.7% | +10.1% | |
| Q1 2020 | -3.8% | +5.6% | +30.0% | |
| Q4 2019 | +8.1% | +2.9% | +9.4% | |
| Q3 2019 | +2.3% | +0.7% | +5.9% | |
| Q2 2019 | -3.3% | +3.5% | +6.1% | |
| Q1 2019 | +3.7% | +8.3% | +6.3% | |
| Q4 2018 | -1.1% | -7.0% | -1.7% | |
| Q3 2018 | +5.8% | +10.1% | +11.0% | |
| Q2 2018 | +2.6% | +1.8% | +5.8% | |
| Q1 2018 | -21.2% | -23.3% | -19.3% | |
| Q4 2017 | -13.2% | -15.3% | -15.4% | |
| Q3 2017 | -10.5% | -9.4% | -12.6% | |
| Q2 2017 | +2.8% | -1.0% | +1.4% | |
| Q1 2017 | +5.4% | +4.7% | +4.3% | |
| Q4 2016 | +12.4% | +15.1% | +26.8% | |
| Q3 2016 | +6.0% | +9.6% | +25.2% | |
| Q2 2016 | -2.0% | — | — | |
| Q1 2016 | -2.0% | — | — | |
| Q4 2015 | +9.7% | — | — | |
| Q3 2015 | -3.5% | — | — | |
| Q2 2015 | -2.6% | — | — | |
| Q1 2015 | +0.3% | — | — | |
| Q4 2014 | -0.4% | — | — | |
| Q3 2014 | +2.7% | — | — | |
| Q2 2014 | -2.9% | — | — | |
| Q1 2014 | +4.5% | — | — | |
| Q4 2013 | +0.9% | — | — | |
| Q3 2013 | +0.1% | — | — | |
| Q2 2013 | +0.2% | — | — | |
| Q1 2013 | -1.5% | — | — | |
| Q4 2012 | -2.5% | — | — | |
| Q4 2011 | -2.5% | — | — | |
| Q3 2012 | -0.6% | — | — | |
| Q2 2012 | +5.4% | — | — | |
| Q1 2012 | +1.5% | — | — | |
| Q3 2011 | +4.7% | — | — | |
| Q2 2011 | +2.1% | — | — | |
| Q1 2011 | -1.0% | — | — | |
| Q4 2010 | -1.8% | — | — | |
| Q4 2009 | -1.8% | — | — | |
| Q3 2010 | +0.8% | — | — | |
| Q2 2010 | -4.8% | — | — | |
| Q1 2009 | +2.9% | — | — | |
| Q1 2010 | +2.1% | — | — | |
| Q4 2007 | -0.5% | — | — | |
| Q3 2008 | -5.4% | — | — | |
| Q3 2009 | -5.4% | — | — | |
| Q2 2009 | +8.0% | — | — | |
| Q2 2008 | +8.0% | — | — | |
| Q4 2008 | +8.0% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro