Howmet Aerospace Reports Second Quarter 2026 Results
Revenue up 24% Year over Year, Organic Growth 21% ; G AAP EPS $1.33, Adjusted EPS $1.33 Strong Second Quarter Cash Generation; $300 Million Deployed for Common Stock Repurchases Full Year 2026 Guidance Increased Summary Financial Results Second Quarter Six Months Dollars in Millions; Per share amounts in dollars, diluted 2026 2025 Change 2026 2025 Change Revenue $2,547 $2,053 24 % $4,860 $3,995 22 % GAAP Metrics Operating Income $711 $521 36 % $1,464 $1,015 44 % Operating Income Margin 27.9 % 25.4 % 250 bps 30.1 % 25.4 % 470 bps Earnings per Share (EPS) $1.33 $1.00 33 % $2.77 $1.84 51 % Cash from Operations $583 $446 31 % $1,036 $699 48 % Non-GAAP Metrics 1 Adjusted EBITDA $817 $589 39 % $1,557 $1,149 36 % Adjusted EBITDA Margin 32.1 % 28.7 % 340 bps 32.0 % 28.8 % 320 bps Adjusted Operating Income $733 $520 41 % $1,399 $1,011 38 % Adjusted Operating Income Margin 28.8 % 25.3 % 350 bps 28.8 % 25.3 % 350 bps Adjusted Earnings per Share (EPS) $1.33 $0.91 46 % $2.56 $1.77 45 % Free Cash Flow $479 $344 39 % $838 $478 75 % 1 For more information, see "Non-GAAP Financial Measures" and the schedules to this release. Key Activity Completed acquisition of CAM on April 6, 2026 for approximately $1.8 billion Paid down the Company's $186 million Japanese Yen-denominated term loan facility and entered into a separate $300 million cross-currency swap, reducing annualized interest expense by $12 million Increased the third quarter common stock dividend by 17% to $0.14 per share PITTSBURGH, Aug. 6, 2026 /PRNewswire/ -- Howmet Aerospace (NYSE: HWM) announced results today for the second quarter 2026.