Howmet Aerospace Inc.

Company facts

Industry

Rolling Drawing & Extruding of Nonferrous Metals

Headquarters

Pittsburgh, Pennsylvania

Most recent report

10-Q, filed Oct 29, 2026

Incorporated

Delaware

Filings on record

1,002+ filings

On EDGAR

CIK 4281

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Sep 2026 10-Q

SECSift found 3 of 10 sections worth reading, with 3 positive, 11 notable, and 1 negative flags.

• Financial Statements (Item 1)

  Large acquisition, debt issuance, buyback surge, and customer concentration all in one quarter.
  Notable

  • Acquired CAM for $1.8B and Brunner for $120M, adding $1.1B goodwill and $425M intangibles.
  • Sold disk forging facility for $230M, recording a $93M gain in Q1 2026.
  • Issued $1.2B in new notes (3.750% 2028, 3.900% 2029, 4.750% 2036) to fund CAM acquisition.
  Negative

  • GE Aerospace (14%) and RTX (11%) together made up 25% of sales in 9 months 2026, up from 21%.

• Management's Discussion (Item 2)

  MD&A with segment results, debt actions, acquisitions, and liquidity details.
  Positive

  • Sales up 29% to $2,703M in Q3 2026; net income up 47% to $567M.
  • COGS as % of sales fell to 62.9% in Q3 2026 from 65.3% in Q3 2025.
  Notable

  • Issued $1,200M in notes in March 2026; interest expense expected to rise ~$38 annually.
  • Fastening Systems revenue grew 41% in Q3 2026, but only 10% excluding acquisitions.
  • Engineered Structures sales down 4% in Q3 2026 due to divestiture and product rationalization.
  • Common stock repurchases of $600M in nine months ended Sep 2026, up from prior period.
  • Commercial paper outstanding $390M as of Sep 30, 2026, up from zero at Dec 31, 2025.
  • Moody's upgraded outlook to positive in May 2026; Fitch upgraded to A- in Feb 2026.
  • Cash used for acquisitions (CAM and Brunner) was $1,929M in nine months ended Sep 2026.

• Unregistered Sales and Repurchases (Item 2)

  Large buyback authorization increase and active repurchases at high prices.
  Positive

  • Board authorized a $5 billion increase to the buyback program on October 28, 2026.
  Notable

  • After October 28 repurchases, $5.397 billion in authorization remains available.

What changed: Sep 2026 vs. Jun 2026

About 3% of HWM's Sep 2026 10-Q is new information. 7 paragraphs were added, 123 changed, and 26 removed. Below are the most important lines SECSift identified.

• Item 1 50
• Item 2 46
• Item 6 4
• Item 4 1