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.
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.
The Board of Directors of Howmet Aerospace (HWM) declared a dividend of 93.75 cents per share on the $3.75 Cumulative Preferred Stock. The payment is scheduled for July 1, 2021, to stockholders of record by the close of business on June 11, 2021. Howmet Aerospace is a global leader in providing advanced engineered solutions for the aerospace and transportation sectors, with a focus on innovative technologies for lighter, fuel-efficient aircraft, supporting sustainability efforts.
Howmet Aerospace (NYSE:HWM) released its 2020 ESG Report, showcasing its dedication to sustainability through key metrics. The report highlights a 19.2% reduction in GHG emissions and a 17% decrease in energy consumption compared to 2019. Notable achievements include the use of 4.8 million BobTail® lockbolts for wind turbines and the diversion of 170,000 metric tons of greenhouse gases from solar array projects. The company also allocated over $5.2 million in STEM grants. Despite the pandemic, Howmet reported zero fatalities among employees and contractors, reaffirming its commitment to safety.
Howmet Aerospace Inc. (NYSE:HWM) announces its 2021 Annual Meeting of Shareholders on May 25, 2021, at 9:00 a.m. ET, held virtually. Shareholders of record as of March 29, 2021, can vote using a 16-digit control number. The meeting will be accessible via webcast, and a replay will be available from May 26, 2021, until February 24, 2022. Howmet Aerospace specializes in advanced engineered solutions in aerospace and transportation, holding nearly 1,150 patents for technologies that enhance fuel efficiency and reduce carbon footprints.
Howmet Aerospace (NYSE:HWM) has initiated an accelerated share repurchase (ASR) agreement with Morgan Stanley for $200 million of its common stock. Approximately 4.9 million shares are set for initial delivery on May 11, 2021. The final share count will depend on the average stock price during the transaction. Post-repurchase, about $77 million is still available under the prior buyback authorization. This move aims to enhance shareholder value and reflect the company's confidence in its financial position.
Howmet Aerospace (NYSE:HWM) reported first quarter 2021 revenues of $1.2 billion, a 26% decline year-over-year, primarily due to disruptions in the commercial aerospace market from COVID-19 and Boeing production issues. Income from continuing operations was $80 million, or $0.18 per share, down from $153 million or $0.35 per share in Q1 2020. The company saw a mixed performance across segments, with Forged Wheels increasing by 19%, while Engine Products and Fastening Systems faced declines of 32% and 29%, respectively. Looking forward, Howmet expects improved cash flow and a recovery in commercial aerospace by Q2.
Howmet Aerospace Inc. (NYSE:HWM) announced the early redemption of its 5.87% Notes due 2022, totaling $476.2 million, redeemed with cash on hand for about $503.3 million, including accrued interest. This action eliminates upcoming debt obligations, with the next maturity set for October 2024. This strategic move indicates the company's strong cash position and commitment to managing debt effectively, positioning it well for future financial stability in the aerospace sector.