Howmet Aerospace Inc.

Company facts

Industry

Rolling Drawing & Extruding of Nonferrous Metals

Headquarters

Pittsburgh, Pennsylvania

Most recent report

10-Q, filed Aug 6, 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: Jun 2026 10-Q

SECSift found 2 of 10 sections worth reading, with 6 positive, 7 notable, and 1 negative flags.

• Financial Statements (Item 1)

  Full financials with major acquisition, strong earnings growth, and significant debt change.
  Notable

  • CAM acquired for $1,812M net cash in April 2026, adding $1,082M goodwill to Fastening Systems.
  • GE Aerospace and RTX Corporation represented 14% and 10% of third-party sales in H1 2026.
  • Issued $1,200M in new notes in March 2026 (3.750% 2028, 3.900% 2029, 4.750% 2036) to fund CAM.
  • French tax penalty reduced to $4 (€3M) on April 16, 2026; $1.14B Alcoa guarantee remains.

• Management's Discussion (Item 2)

  Full MD&A with strong results, acquisitions, divestiture, and new debt.
  Positive

  • Sales Q2 2026 $2,547M, +24%; H1 $4,860M, +22%, led by commercial/defense aerospace and gas turbines.
  • Net income Q2 2026 $534M ($1.33 EPS), up 31% vs $407M Q2 2025; H1 $1,114M up 48%.
  • Engine Products: Q2 sales +32%, EBITDA +51%, margin 37.7% (+470 bps). Absorbed 485 net headcount in Q2.
  • Fastening Systems: Q2 sales +37%, EBITDA +40%, including contributions from CAM and Brunner acquisitions.
  • Cash from operations H1 2026 $1,036M, +48% vs $699M, driven by higher earnings and working capital.
  • Moody's upgraded outlook to positive (May 2026); Fitch upgraded long-term debt to A- (Feb 2026).
  Notable

  • SG&A Q2 $148M, +66% due to acquisitions and employment costs; Corporate expense $52M, +108%.
  • Restructuring credit of $93M in H1 from sale of disk forging facility.
  • Capital expenditures expected ~5% of 2026 sales; elevated capacity investments in Engine Products.
  Negative

  • Engineered Structures: Q2 sales -13%, EBITDA -6% due to disk forging divestiture and product rationalization.

What changed: Jun 2026 vs. Mar 2026

About 14% of HWM's Jun 2026 10-Q is new information. 37 paragraphs were added, 119 changed, and 36 removed. Below are the most important lines SECSift identified.

• Item 1 62
• Item 2 55
• Item 6 3
• Item 4 1