In its financial report for the third quarter released on Wednesday, Howmet Aerospace Inc. (HWM) announced an upward revision to its adjusted earnings forecast for the full-year 2024. However, the company slightly lowered its annual revenue expectations. Additionally, Howmet provided guidance for its anticipated performance in the fourth quarter.
For the upcoming fourth quarter, Howmet anticipates adjusted earnings to be in the range of $0.70 to $0.72 per share, with projected revenues between $1.85 billion and $1.89 billion. Analysts surveyed by Thomson Reuters have predicted earnings of $0.69 per share on revenues of $1.89 billion for this period, with their estimates typically excluding exceptional items.
Looking ahead to the fiscal year 2024, Howmet now forecasts adjusted earnings between $2.66 and $2.67 per share, with revenue expectations set between $7.39 billion and $7.43 billion. This marks an adjustment from its prior projection, which estimated earnings between $2.53 and $2.57 per share, alongside revenues ranging from $7.40 billion to $7.48 billion. Market analysts are anticipating earnings of $2.59 per share on revenues totaling $7.45 billion for the year.
Furthermore, the company revealed plans to propose a 25 percent increase in its common stock dividend, raising it to $0.10 per share for the first quarter of 2025, pending approval by the Board.
