We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Here's What Key Metrics Tell Us About Howmet (HWM) Q3 Earnings
Read MoreHide Full Article
For the quarter ended September 2023, Howmet (HWM - Free Report) reported revenue of $1.66 billion, up 15.7% over the same period last year. EPS came in at $0.46, compared to $0.36 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.6 billion, representing a surprise of +3.71%. The company delivered an EPS surprise of +6.98%, with the consensus EPS estimate being $0.43.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Howmet performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Total Sales- Engine Products: $803 million versus the five-analyst average estimate of $800.75 million. The reported number represents a year-over-year change of +17.4%.
Total Sales- Fastening Systems: $348 million versus $321.06 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +19.6% change.
Total Sales- Engineered Structures: $227 million versus the five-analyst average estimate of $215.43 million. The reported number represents a year-over-year change of +15.8%.
Total Sales- Forged Wheels: $285 million compared to the $259.71 million average estimate based on five analysts. The reported number represents a change of +7.1% year over year.
End Market Revenue- Aerospace- Commercial: $820 million versus $785.29 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +22.8% change.
End Market Revenue- Aerospace- Defense: $251 million compared to the $257.99 million average estimate based on three analysts. The reported number represents a change of +12.6% year over year.
End Market Revenue- Commercial Transportation: $352 million versus $320.20 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +7% change.
End Market Revenue- Industrial and Other: $235 million versus the three-analyst average estimate of $242.38 million. The reported number represents a year-over-year change of +10.3%.
Adjusted EBITDA- Engine Products: $219 million versus $219.76 million estimated by four analysts on average.
Adjusted EBITDA- Forged Wheels: $77 million versus $68.03 million estimated by four analysts on average.
Adjusted EBITDA- Engineered Structures: $30 million compared to the $27.50 million average estimate based on four analysts.
Adjusted EBITDA- Fastening Systems: $76 million versus the four-analyst average estimate of $63.84 million.
Shares of Howmet have returned -2.2% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Here's What Key Metrics Tell Us About Howmet (HWM) Q3 Earnings
For the quarter ended September 2023, Howmet (HWM - Free Report) reported revenue of $1.66 billion, up 15.7% over the same period last year. EPS came in at $0.46, compared to $0.36 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.6 billion, representing a surprise of +3.71%. The company delivered an EPS surprise of +6.98%, with the consensus EPS estimate being $0.43.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Howmet performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Total Sales- Engine Products: $803 million versus the five-analyst average estimate of $800.75 million. The reported number represents a year-over-year change of +17.4%.
- Total Sales- Fastening Systems: $348 million versus $321.06 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +19.6% change.
- Total Sales- Engineered Structures: $227 million versus the five-analyst average estimate of $215.43 million. The reported number represents a year-over-year change of +15.8%.
- Total Sales- Forged Wheels: $285 million compared to the $259.71 million average estimate based on five analysts. The reported number represents a change of +7.1% year over year.
- End Market Revenue- Aerospace- Commercial: $820 million versus $785.29 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +22.8% change.
- End Market Revenue- Aerospace- Defense: $251 million compared to the $257.99 million average estimate based on three analysts. The reported number represents a change of +12.6% year over year.
- End Market Revenue- Commercial Transportation: $352 million versus $320.20 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +7% change.
- End Market Revenue- Industrial and Other: $235 million versus the three-analyst average estimate of $242.38 million. The reported number represents a year-over-year change of +10.3%.
- Adjusted EBITDA- Engine Products: $219 million versus $219.76 million estimated by four analysts on average.
- Adjusted EBITDA- Forged Wheels: $77 million versus $68.03 million estimated by four analysts on average.
- Adjusted EBITDA- Engineered Structures: $30 million compared to the $27.50 million average estimate based on four analysts.
- Adjusted EBITDA- Fastening Systems: $76 million versus the four-analyst average estimate of $63.84 million.
View all Key Company Metrics for Howmet here>>>Shares of Howmet have returned -2.2% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.