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The Zacks Consensus Estimate for earnings has remained steady in the past 60 days. HWM has an impressive earnings surprise history. Its earnings beat the consensus estimate in each of the preceding four quarters, delivering an average surprise of 8.8%.
Let’s see how things might have shaped up prior to the announcement.
Factors to Note
The company’s Engine products segment is expected to have benefited from robust momentum in the commercial aerospace, defense aerospace, industrial gas turbine and oil & gas markets. The Zacks Consensus Estimate for the segment’s revenues is pegged at $882 million, indicating a 10.7% rise from the first-quarter 2023 reported number.
Growth in the commercial aerospace market, including the emerging wide body recovery and the commercial transportation market, is likely to have supported the Fastening Systems segment's first-quarter results. The consensus estimate for segmental revenues is pegged at $351 million, indicating a 12.5% increase from first-quarter 2023 reported number.
Strength in the commercial aerospace market is expected to drive the Engineered Structures segment’s revenues. The consensus estimate for the segment’s first-quarter revenues is pegged at $233 million, suggesting an increase of 12.6% from the year-ago quarter’s reported figure.
However, weakness in the commercial transportation market might have hurt the Forged Wheels segment in the first quarter. The consensus estimate for the segment’s first-quarter revenues is pegged at $277 million, suggesting a decline of 4.2% from a year ago.
Amid this backdrop, the consensus estimate for the company’s first-quarter 2024 revenues is pegged at $1.74 billion, suggesting an increase of 8.7% from the year-ago quarter’s reported figure. The consensus estimate for the company’s adjusted earnings is pinned at 52 cents per share, indicating a 23.8% growth from the year-ago quarter’s reported number.
Escalating costs and expenses due to raw material inflation are likely to have partially dented Howmet Aerospace’s bottom line in the quarter to be reported.
Our proven model does not conclusively predict an earnings beat for HWM this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here, as elaborated below.
Earnings ESP: Howmet Aerospace has an Earnings ESP of -1.24% as the Most Accurate Estimate is pegged at 51 cents, which is lower than the Zacks Consensus Estimate of 52 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Howmet Aerospace presently carries a Zacks Rank of 3.
Stocks With the Favorable Combination
Here are three companies that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this season.
Atmus Filtration Technologies Inc. (ATMU - Free Report) has an Earnings ESP of +0.57% and sports a Zacks Rank #1. It is slated to release first-quarter results on May 3. ATMU delivered a trailing four-quarter earnings surprise of 20.3%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
Ingersoll Rand (IR - Free Report) has an Earnings ESP of +1.82% and a Zacks Rank of 2. It is slated to release upcoming results on May 2. IR delivered a trailing four-quarter earnings surprise of 15.6%, on average.
Parker-Hannifin Corporation (PH - Free Report) has an Earnings ESP of +1.35% and a Zacks Rank #3. It is slated to release third-quarter fiscal 2024 results on May 2. PH delivered a trailing four-quarter earnings surprise of 14.4%, on average.
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Howmet Aerospace (HWM) to Post Q1 Earnings: What to Expect?
Howmet Aerospace Inc. (HWM - Free Report) is scheduled to release first-quarter 2024 earnings on May 2 before market open.
The Zacks Consensus Estimate for earnings has remained steady in the past 60 days. HWM has an impressive earnings surprise history. Its earnings beat the consensus estimate in each of the preceding four quarters, delivering an average surprise of 8.8%.
Let’s see how things might have shaped up prior to the announcement.
Factors to Note
The company’s Engine products segment is expected to have benefited from robust momentum in the commercial aerospace, defense aerospace, industrial gas turbine and oil & gas markets. The Zacks Consensus Estimate for the segment’s revenues is pegged at $882 million, indicating a 10.7% rise from the first-quarter 2023 reported number.
Growth in the commercial aerospace market, including the emerging wide body recovery and the commercial transportation market, is likely to have supported the Fastening Systems segment's first-quarter results. The consensus estimate for segmental revenues is pegged at $351 million, indicating a 12.5% increase from first-quarter 2023 reported number.
Strength in the commercial aerospace market is expected to drive the Engineered Structures segment’s revenues. The consensus estimate for the segment’s first-quarter revenues is pegged at $233 million, suggesting an increase of 12.6% from the year-ago quarter’s reported figure.
However, weakness in the commercial transportation market might have hurt the Forged Wheels segment in the first quarter. The consensus estimate for the segment’s first-quarter revenues is pegged at $277 million, suggesting a decline of 4.2% from a year ago.
Amid this backdrop, the consensus estimate for the company’s first-quarter 2024 revenues is pegged at $1.74 billion, suggesting an increase of 8.7% from the year-ago quarter’s reported figure. The consensus estimate for the company’s adjusted earnings is pinned at 52 cents per share, indicating a 23.8% growth from the year-ago quarter’s reported number.
Escalating costs and expenses due to raw material inflation are likely to have partially dented Howmet Aerospace’s bottom line in the quarter to be reported.
Howmet Aerospace Inc. Price and EPS Surprise
Howmet Aerospace Inc. price-eps-surprise | Howmet Aerospace Inc. Quote
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for HWM this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here, as elaborated below.
Earnings ESP: Howmet Aerospace has an Earnings ESP of -1.24% as the Most Accurate Estimate is pegged at 51 cents, which is lower than the Zacks Consensus Estimate of 52 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Howmet Aerospace presently carries a Zacks Rank of 3.
Stocks With the Favorable Combination
Here are three companies that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this season.
Atmus Filtration Technologies Inc. (ATMU - Free Report) has an Earnings ESP of +0.57% and sports a Zacks Rank #1. It is slated to release first-quarter results on May 3. ATMU delivered a trailing four-quarter earnings surprise of 20.3%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
Ingersoll Rand (IR - Free Report) has an Earnings ESP of +1.82% and a Zacks Rank of 2. It is slated to release upcoming results on May 2. IR delivered a trailing four-quarter earnings surprise of 15.6%, on average.
Parker-Hannifin Corporation (PH - Free Report) has an Earnings ESP of +1.35% and a Zacks Rank #3. It is slated to release third-quarter fiscal 2024 results on May 2. PH delivered a trailing four-quarter earnings surprise of 14.4%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.