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Howmet Aerospace — Nov 6, 2024 release

Fiscal 2024 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001104659-24-114539
Open on SEC.gov ↗
Showing in the filing
Total revenue growth
“approximately 7.5% year over year”
Period
FY2025
Measure
GAAP-tied
Source
Prose
All guidance in this release · 22
Revenue for Q4 FY2024
“$1.850B” – “$1.890B”
Revenue - Baseline for Q4 FY2024
“$1.870B”
Revenue for FY2024
“$7.390B” – “$7.430B”
Revenue - Baseline for FY2024
“$7.410B”
Adj. EBITDA for Q4 FY2024
“$478M” – “$498M”
Adj. EBITDA - Baseline for Q4 FY2024
“$488M”
Adj. EBITDA for FY2024
“$1.885B” – “$1.905B”
Adj. EBITDA - Baseline for FY2024
“$1.895B”
Adj. EBITDA Margin for Q4 FY2024
“25.8%” – “26.3%”
Adj. EBITDA Margin - Baseline for Q4 FY2024
“26.1%”
Adj. EBITDA Margin - Low for FY2024
“25.5%”
Adj. EBITDA Margin - Baseline for FY2024
“25.6%”
Adj. Earnings per Share for Q4 FY2024
“$0.70” – “$0.72”
Adj. Earnings per Share for FY2024
“$2.65” – “$2.67”
Adj. Earnings per Share - Baseline for FY2024
“$2.66”
Free Cash Flow for FY2024
“$890M” – “$940M”
Free Cash Flow - Baseline for FY2024
“$920M”
Adj. Earnings per Share - Baseline for Q4 FY2024
“$0.71”
Engine spares volumes for FY2024
“approximately $1.25 billion”
Total revenue growth for FY2025
“approximately 7.5% year over year”
Common stock dividend for Q1 FY2025
“expect to increase the common stock dividend by 25% in the first quarter 2025 to $0.10 per share”
Common stock dividend
“$0.08 per share”
Exhibit 99.1 · the passage around this item
… earlier in the release
We expect growth in 2025 in our defense aerospace and industrial end markets, while we assume that the commercial transportation end market will remain soft until the second half 2025. Our 2025 outlook envisions total revenue growth of approximately 7.5% year over year.”   “Howmet Aerospace’s balance sheet remains a source of strength, with leverage at a record low and free cash flow generation of approximately $600 million year to date through the third quarter 2024. Debt actions year to date will reduce annualized interest expense by approximately $33 million. The Company repurchased $100 million of common stock in the third quarter 2024 and repurchased an additional $90 million in October 2024, bringing October year-to-date repurchases to $400 million. Subject to Board approval, we also expect to increase the common stock dividend by 25% in the first quarter 2025 to $0.10 per share.”   Third Quarter 2024 Segment Performance   Engine Products (in U.S. dollar millions)   Q3 2023     Q4 2023     Q1 2024     Q2 2024     Q3 2024   Third-party sales   $ 798     $ 852     $ 885     $ 933     $ 945   Inter-segment sales   $ 5     $ 1     $ 2     $ 1     $ 3   Provision for depreciation and amortization   $ 33     $ 33     $ 33     $ 33     $ 34   Segment Adjusted EBITDA   $ 219     $ 233     $ 249     $ 292     $ 307   Segment Adjusted EBITDA Margin     2
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.