Howmet Aerospace — Feb 13, 2025 release

In full year 2024, the Company generated $977 million of Free Cash Flow for an 88% conversion of Net Income * , and deployed approximately $975 million of cash in the form of common stock repurchases, debt reduction, and dividends. On January 27, the Board of Directors approved a 25% increase in the common stock dividend to $0.10 per share.”   “The outlook for commercial aerospace remains solid with rising OEM production rates supported by strong demand as well as continued healthy growth in engine spares demand. We expect continued growth in the defense aerospace and industrial end markets, with the commercial transportation market anticipated to be soft until the second half of 2025. The mid-point of our 2025 revenue growth guidance is increased to approximately 8% year over year compared to the 7.5% outlook provided at third quarter 2024 earnings, and this extra growth is on top of a strong finish to 2024. We continue to employ a cautious view on underlying build rates in our guidance, assuming The Boeing Company produces approximately 25 737-MAX aircraft per month and 6 787 aircraft per month on average across 2025 and Airbus averages mid-50s per month on the A320 and approximately 6 per month on the A350. Free Cash Flow in 2025 is expected to exceed $1 billion with approximately 85% conversion of Net Income * , while investing in additional capital expenditures for growth.”                 * Excluding special items 3     Fourth Quart