Howmet Aerospace reported first quarter 2026 revenue of $2.31 billion, up 19% year-over-year, and adjusted EPS of $1.22, a 42% increase. Both top and bottom-line results surpassed analyst expectations. The company also generated record first quarter free cash flow and raised its guidance for the full year 2026.
Key Highlights
- Revenue growth was driven by broad strength across key end markets, including a 20% increase in commercial aerospace, 10% in defense aerospace, and 39% in the gas turbines market.
- Profitability improved significantly, with the adjusted EBITDA margin expanding 320 basis points year-over-year to 32.0%.
- The company raised its full-year 2026 guidance, increasing its baseline revenue forecast by $550 million to $9.65 billion and its adjusted EPS forecast by $0.49 to $4.94.
- Free cash flow was $359 million, a 168% year-over-year increase, which supported the repurchase of $300 million in common stock during the quarter.