Howmet Aerospace Inc. said Tuesday it had net income of $111 million, or 26 cents a share, for the fourth quarter, up from $77 million, or 18 cents a share,...
Howmet Aerospace Inc. HWM said Tuesday it had net income of $111 million, or 26 cents a share, for the fourth quarter, up from $77 million, or 18 cents a share, in the year-earlier period. Adjusted for one-time items, the company had EPS of 38 cents, matching the FactSet consensus. Sales climbed to $1.513 billion from $1.285 billion a year ago, ahead of the $1.467 billion FactSet consensus. The company, formerly called Arconic Inc.
285 billion a year ago, ahead of the $1.467 billion FactSet consensus. The company, formerly called Arconic Inc., makes aluminum parts for the car and aerospace industries, and said net income included a roughly $50 million charge related mostly to pension liabilities. “The team drove strong revenue growth and improved profitability in 2022 against a choppy backcloth with uneven aircraft and engine build rate increases and inflationary pressures,” Chief Executive John Plant said in a statement.
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