Welcome to our dedicated page for Howmet Aerospace news (Ticker: HWM), a resource for investors and traders seeking the latest updates and insights on Howmet Aerospace stock.
Howmet Aerospace Inc. reports developments across its engineered products business for aerospace, defense, gas turbine and commercial transportation markets. Updates commonly cover revenue and margin trends tied to commercial aerospace production, engine spares, defense demand, gas turbines and commercial transportation, along with cash generation, guidance, stock repurchases and common stock dividends.
Company announcements also address shareholder meetings, investor conference presentations and executive leadership changes. Howmet's product portfolio includes jet engine components, aerospace fastening systems, airframe structural components and forged aluminum wheels for commercial transportation.
The Board of Directors of Howmet Aerospace (NYSE:HWM) declared a dividend of 2 cents per share on Common Stock, payable on November 25, 2021. Shareholders on record as of November 5, 2021 will receive this payment. Additionally, a dividend of 93.75 cents per share on Cumulative Preferred Stock will be paid on January 1, 2022, to holders on record by December 10, 2021.
Howmet Aerospace Inc. (NYSE:HWM) will release its third quarter 2021 financial results on November 4, 2021, at approximately 7:00 AM ET. A conference call will follow at 10:00 AM ET, hosted by Executive Chairman John Plant and CFO Ken Giacobbe. Investors can dial in using (833) 519-1352 or +1 (918) 922-6504 internationally. A replay will be available from 1:10 PM ET on November 4 until November 18, 2021. Visit the Howmet Aerospace website for details.
Howmet Aerospace Inc. (NYSE:HWM) has announced that John C. Plant will become the sole Chief Executive Officer while retaining his role as Executive Chairman. Plant decided to extend his tenure to guide the company through the expected upturn in the aerospace market. Tolga I. Oal has left the company to pursue other opportunities. The independent Lead Director, James F. Albaugh, expressed confidence in Plant’s leadership, emphasizing the importance of stability as the company navigates this growth phase.
Howmet Aerospace (NYSE:HWM) announced early tender results for its tender offer regarding the 6.875% Notes due 2025. As of the early tender deadline on August 31, 2021, valid tenders exceeded the purchase cap of $600 million. The accepted notes will be proportionally accepted to ensure the purchase cap is not exceeded. The total consideration includes a $50 early tender premium. Expected settlement for accepted notes will occur on September 2, 2021. The tender offer will expire on September 15, 2021, after which no further tenders will be accepted.
Howmet Aerospace (NYSE:HWM) has announced a public offering of $700 million in 3.000% Notes due 2029, set to close on September 1, 2021. The proceeds will primarily fund the purchase of up to $600 million of its outstanding 6.875% Notes due 2025 through a concurrent Tender Offer. Remaining funds may be used for general corporate purposes, including repaying other securities. The offering is managed by major financial institutions including Citigroup, Goldman Sachs, and J.P. Morgan. This offering is not contingent on the Tender Offer’s success.
Howmet Aerospace (NYSE:HWM) has authorized an additional share repurchase program of up to $1.5 billion, increasing its total repurchase authorization to $1.577 billion. The company is also launching a proposed offering of new notes to fund the purchase of $600 million of its existing 6.875% Notes due 2025. The actions reflect Howmet's confidence in its liquidity and positive cash flow outlook. By improving debt maturity profiles, the company anticipates a reduction in annual interest expenses, benefiting shareholders through increased value.
Howmet Aerospace (NYSE:HWM) reported second-quarter 2021 revenues of $1.2 billion, down 5% YoY, largely impacted by disruptions in the commercial aerospace market due to COVID-19 and declines in Boeing 787 production. However, the company posted income from continuing operations of $74 million ($0.17 per share), a significant improvement from the $84 million loss reported in Q2 2020. Operating income soared 180% YoY to $207 million. Liquidity remains strong with cash holdings of $716 million and an undrawn $1 billion credit facility.
Howmet Aerospace (NYSE:HWM) announced a dividend of 2 cents per share on its Common Stock, payable on August 25, 2021 to shareholders of record as of August 6, 2021. Additionally, a dividend of 93.75 cents will be paid on its $3.75 Cumulative Preferred Stock on October 1, 2021 to holders of record at the close of business on September 10, 2021. This decision reflects the company's confidence in its financial stability and commitment to returning value to shareholders.
Howmet Aerospace (NYSE:HWM) will release its Q2 2021 financial results on August 4, 2021, at 7:00 AM ET. The press release will be accessible on the company’s website and via its Twitter handle @HowmetAerospace. A conference call, hosted by key executives including John Plant and Tolga Oal, will take place at 10:00 AM ET. Participants are encouraged to dial in by 9:45 AM ET. The call can be replayed until August 18, 2021. For additional details, visit www.howmet.com.
Howmet Aerospace has appointed Lola Lin as Executive Vice President, Chief Legal Officer, and Corporate Secretary. She will join the Executive Leadership Team, overseeing the Company’s Global Legal and Ethics & Compliance functions. Lin brings over 20 years of legal expertise, previously serving as Senior Vice President and General Counsel at Airgas, Inc. Her experience spans multiple industries, enhancing Howmet's strategic leadership. Howmet Aerospace is recognized for advanced engineered solutions in aerospace and transportation, underscoring its commitment to sustainability.