Howmet Aerospace — Oct 30, 2025 release

The defense aerospace market remains strong across F-35 demand in addition to legacy fighters. Growing power demand to support data center builds bolsters the industrial gas turbine and aeroderivative market. However, the commercial transportation market remains weak. Our 2026 outlook envisions revenue of approximately $9 billion, up ~10% year over year.”   Third Quarter 2025 Segment Performance   Engine Products     3Q24       4Q24       1Q25       2Q25       3Q25   (in U.S. dollar millions)                                         Third-party sales   $ 945     $ 972     $ 996     $ 1,056     $ 1,105   Inter-segment sales   $ 3     $ 1     $ 2     $ 2     $ 1   Provision for depreciation and amortization   $ 34     $ 39     $ 34     $ 35     $ 38   Segment Adjusted EBITDA   $ 307     $ 302     $ 325     $ 349     $ 368   Segment Adjusted EBITDA Margin     32.5 %     31.1 %     32.6 %     33.0 %     33.3 % Restructuring and other (credits) charges   $ 1     $ 1     $ —     $ —     $ —   Capital expenditures   $ 55     $ 76     $ 86     $ 75     $ 74     Engine Products reported third quarter 2025 revenue of $1.1 billion, an increase of 17% year over year, due to growth in the commercial aerospace, defense aerospace, industrial gas turbine, and oil and gas markets, including engine spares growth. Segment Adjusted EBITDA was $368 million, up 20% year over year, driven by growth i