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How Howmet Aerospace (HWM) makes money: Q2 2026 revenue breakdown
US GAAP · $M · vs Q2 2025 · reported 08/06/2026
Howmet Aerospace Inc. is an American aerospace company based in Pittsburgh, Pennsylvania. · Wikipedia
More about the company
The company manufactures components for jet engines, fasteners, titanium structures for aerospace applications, and forged aluminum wheels for heavy trucks.
Key growth driver: Engine Products — the fastest-growing revenue line: $1,373, +32% y/y. · by the Q2 2026 report
How does Howmet Aerospace make money?
Howmet Aerospace brought in $2.55 billion of revenue in Q2 2026, up 24% year over year. The largest source was Engine Products: $1.37 billion, or 54% of the total, followed by Fastening Systems ($589M, 23%) and Forged Wheels ($316M, 12%); other lines add the remaining 11%. Net income for the quarter was $534 million, up 31% year over year.
Revenue by source, Q2 2026
- Engine Products$1.37B · 54% · +32%
- Fastening Systems$589M · 23% · +37%
- Forged Wheels$316M · 12% · +14%
- Engineered Structures$269M · 11% · −13%
Shares of $2.55B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is HWM’s next earnings date?
Thursday, October 29, 2026confirmed · before market open
Howmet Aerospace (HWM) is scheduled to report results for the quarter ending Sep 2026 on Oct 29, 2026. Consensus EPS forecast: $1.36 (5 analysts), vs $0.95 in the same quarter last year.
What time does HWM report? Usually before market open: the last 4 results releases reached the SEC at 7:00 am, 7:00 am, 7:00 am, 7:05 am ET.
Last report: Aug 6, 2026 (Q2 2026) — broken down in the Sankey chart below. Dates and consensus: Nasdaq / Zacks Investment Research; companies do reschedule. Who else reports this week →
All figures in $M.
Revenue
$2,547
+24%
Gross profit
$951
+38%
37.3% margin
Operating income
$711
+37%
27.9% margin
Net income
$534
+31%
EPS $1.33 diluted
Verdict: a very strong quarter — 24% revenue growth (21% organic) powered by Engine Products and gas turbines demand drove operating margin up 250bps to 27.9% and net income up 31% to $534M, with only Engineered Structures (divestiture-driven) as a modest drag.
OCF $583M (+31%); FCF $479M after $104M capex; $300M buybacks in Q2 ($800M YTD through July, exceeding all of 2025); Q3 dividend raised 17% to $0.14/share; FY26 revenue guidance raised to $10.0-10.1B.
Source and notation
* marks non-cash / ≈ estimated. Source: Howmet Aerospace press release / 10-Q (SEC EDGAR).
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
Heads-up
- debt load increased (Q2 2026)
Most likely because interest expense rose to $51M from $38M y/y reflecting acquisition-related debt; revenue growth was 24% reported but only 21% organic, with 3 points from the CAM (April 2026); effective tax rate was unusually low at 17.7% due to one-off discrete benefits (release of valuation allowances on US foreign…). Based on the Q2 2026 report.
Company filings on SEC EDGAR ↗HWM earnings history: past report dates
| Aug 6, 2026 Thu | 7:00 ambefore market open | Jun 30, 2026 | $2.5B+24% y/y | $1.33+33% y/y |
| May 7, 2026 Thu | 7:00 ambefore market open | Mar 31, 2026 | $2.3B+19% y/y | $1.44+71% y/y |
| Feb 12, 2026 Thu | 7:00 ambefore market open | Dec 31, 2025 | ≈$2.2B+15% y/y | ≈$0.92+21% y/y |
| Oct 30, 2025 Thu | 7:05 ambefore market open | Sep 30, 2025 | $2.1B+14% y/y | $0.95+17% y/y |
| Jul 31, 2025 Thu | 7:05 ambefore market open | Jun 30, 2025 | $2.1B+9% y/y | $1.00+54% y/y |
| May 1, 2025 Thu | 7:00 ambefore market open | Mar 31, 2025 | $1.9B+6% y/y | $0.84+42% y/y |
| Feb 13, 2025 Thu | 7:05 ambefore market open | Dec 31, 2024 | ≈$1.9B+9% y/y | ≈$0.76+33% y/y |
| Nov 6, 2024 Wed | 7:07 ambefore market open | Sep 30, 2024 | $1.8B+11% y/y | $0.81+80% y/y |
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
Howmet Aerospace: 5-year financials
| 2025 | 8,252 | 2,046 | 1,508 | 1,431 |
| 2024 | 7,430 | 1,633 | 1,155 | 977 |
| 2023 | 6,640 | 1,203 | 765 | 682 |
| 2022 | 5,663 | 919 | 469 | 540 |
| 2021 | 4,972 | 748 | 258 | 250 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP).
How we calculate
Figures are the annual report lines as filed, no adjustments. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing.
Corporate governance
1.5/2mostly good
How the company treats minority shareholders: 2 — well, 0 — systematically poorly.
More
- Aug 2023A court approved a $74M settlement of a shareholder class action against Arconic over risk disclosure after the Grenfell Tower fire. sec.gov ↗
- Feb 2026Per the 2025 10-K, one class of shares; the derivative suit Raul v. Albaugh was settled and approved on February 10, 2026 with no material impact on the company. sec.gov ↗
- Dec 2025Diluted share count 2020→2025 −7.5%; dividend $0.10 (2022) → $0.44 (2025) (XBRL 10-K). data.sec.gov ↗
Scoring: 2.0 −0.5 (criterion 9: Arconic shareholder suit over Grenfell settled for $74M, August 2023) = 1.5
- Share classes
- Single class of common stock (10-K cover).
- Dilution
- Diluted share count 2020→2025 −7.5%; SBC 0.9%.
- Disclosure
- 10-Ks and 10-Qs filed on time, audited US GAAP financials; no deduction.
- Dividends
- Dividend cut in 2020 with the Arconic Corp spin-off and the pandemic, growing since 2021 ($0.04 → $0.44 in 2025); no formal policy on the payout level — no deduction.
- Lawsuits & regulators
- Howard v. Arconic — $74M (paid from insurance) → −0.5; the Raul derivative suit settled in 2026 with no material effect; the 2014 Alcoa bribery case — FCPA, not deducted.
- Related parties
- No transactions with a controlling shareholder; no deduction.
How the score works · checked as of Sep 2026
Howmet Aerospace (HWM) earnings: FAQ
How does Howmet Aerospace make money?
Howmet Aerospace brought in $2.55 billion of revenue in Q2 2026, up 24% year over year. The largest source was Engine Products: $1.37 billion, or 54% of the total, followed by Fastening Systems ($589M, 23%) and Forged Wheels ($316M, 12%); other lines add the remaining 11%. Net income for the quarter was $534 million, up 31% year over year.
When is HWM's next earnings date?
Howmet Aerospace (HWM) is scheduled to report on Oct 29, 2026, before market open.
What time does HWM report earnings?
Howmet Aerospace is scheduled to report before market open on Oct 29, 2026. Its last results releases were filed before market open, most recently at 7:00 am ET on Aug 6, 2026.
When did HWM last report earnings?
Howmet Aerospace reported Q2 2026 results on Aug 6, 2026.
What is the EPS estimate for HWM's next earnings?
The consensus EPS forecast is $1.36 (5 analysts), vs $0.95 in the same quarter last year.
Where can I find Howmet Aerospace's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to HWM's filings; this page breaks the latest report down in a Sankey chart.
What was HWM's net income in Q2 2026?
Howmet Aerospace reported net income of $534M for Q2 2026 (+31% year over year), under US GAAP.
New to earnings reports? Start with how to read an earnings report.
How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report. Figures checked against the filing on 08/25/2026. How we make the breakdowns · Report an error
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