Howmet Aerospace — Feb 13, 2025 release

Earnings Per Share excluding special items of $2.69, up 46% year over year · $977 million of Free Cash Flow; 88% conversion of Net Income excluding special items           1 Free Cash Flow = Cash provided from operations less Capital expenditures 1     2025 Guidance   Q1 2025 Guidance   FY 2025 Guidance   Low Baseline High   Low Baseline High Revenue $1.925B $1.935B $1.945B   $7.930B $8.030B $8.130B Adj. EBITDA *2 $515M $520M $525M   $2.105B $2.130B $2.155B Adj. EBITDA Margin *2 26.8% 26.9% 27.0%   26.5% 26.5% 26.5% Adj. Earnings per Share *2 $0.75 $0.76 $0.77   $3.13 $3.17 $3.21 Free Cash Flow 2         $1.025B $1.075B $1.125B   Key Announcements · In the fourth quarter 2024, the Company repurchased $190 million of common stock at an average price of $109.75 per share, retiring approximately 1.7 million shares. · In January 2025, the Company repurchased an additional $50 million of common stock. As of January 31, 2025, total share repurchase authorization available was approximately $2.15 billion. · In the fourth quarter 2024, the Company paid down $60 million of its US dollar-denominated Term Loan, resulting in annualized interest expense savings of approximately $3 million. · On November 25, 2024, the Company paid a quarterly dividend of $0.08 per share on its common stock. · The Company increased the quarterly dividend of its common stock by 25% to $0.10 per share in the first quarter 2025.     PITTSBURGH, PA, February 13, 2025 – Howmet Aerospace (NYSE: HWM) today reported fourth quarter and full year 2024 results. The Company reported fourth quarter 2024 revenues of $1.9 billion, up 9% year over year, primarily driven by growth in the commercial