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Howmet delivered a record Q1 with revenue up 19% and EPS of $1.22, a 42% increase year-over-year, as Engine Products surged 29% with EBITDA margins reaching 36.6% and gas turbine revenue grew 39% on capacity expansion. Management raised FY2026 guidance significantly with EPS increased to $4.94 (up 11% from initial guide), organic revenue growth raised to 14%, and EBITDA raised to $3.06 billion. Spares grew 36% to $520 million now representing 23% of revenue, and the CAM and Brunner acquisitions expanded the fastener portfolio.
Demand | Margin | Revenue Growth | Competitive Dynamics | Capex Investment | Supply Chain | Cloud & AI | Capital Allocation | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 3 | 6 | 1 | 2 | 2 | 2 | 1 | 2 |
| 2025Q1 | 4 | 3 | 2 | 2 | 3 | 1 | ||
| 2025Q2 | 6 | 4 | 4 | 4 | 2 | 2 | 1 | |
| 2025Q3 | 3 | 3 | 1 | 1 | 1 | 1 | 2 | 1 |
| 2025Q4 | 3 | 4 | 2 | 1 | 2 | 2 | 1 | |
| 2026Q1 | 3 | 2 | 1 | 2 | 1 | 2 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 3 | 4 | 6 | 3 | 3 | 3 |
| Margin | 6 | 3 | 4 | 3 | 4 | |
| Revenue Growth | 1 | 2 | 4 | 1 | 2 | 2 |
| Competitive Dynamics | 2 | 2 | 4 | 1 | 1 | 1 |
| Capex Investment | 2 | 2 | 1 | 2 | 2 | |
| Supply Chain | 2 | 3 | 2 | 1 | 1 | |
| Cloud & AI | 1 | 1 | 2 | 2 | 2 | |
| Capital Allocation | 2 | 1 | 1 | 1 | 1 |
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $1.89B | +9.2% | $0.77 | +35.1% | 24.2% | 16.6% | $378M |
| FY2025 Q1 | $1.94B | +6.5% | $0.84 | +42.4% | 25.2% | 17.7% | $134M |
| FY2025 Q2 | $2.05B | +9.2% | $1.00 | +53.8% | 25.4% | 19.8% | $344M |
| FY2025 Q3 | $2.09B | +13.8% | $0.95 | +17.3% | 25.9% | 18.4% | $202M |
| FY2025 Q4 | $2.17B | +14.6% | $0.92 | +19.5% | 26.6% | 17.2% | $530M |
| FY2026 Q1Selected | $2.31B | +19.1% | $1.44 | +71.4% | 32.6% | 25.1% | $359M |
| FY2026 Q2 | $2.55B | +24.1% | $1.33 | +33.0% | 27.9% | 21.0% | $677M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
Calendar quarter Q1 2026Earnings call May 7, 2026
FY2026 Q1 in brief
Howmet delivered a record Q1 with revenue up 19% and EPS of $1.22, a 42% increase year-over-year, as Engine Products surged 29% with EBITDA margins reaching 36.6% and gas turbine revenue grew 39% on capacity expansion.
Newest quarter is part of Pro ·
Sources. Tellvest earnings-call sentiment score for Howmet Aerospace (HWM), FY2026 Q1: 9/10. Scores: Howmet Aerospace’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: HWM daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
| Analyst | Firm | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Scott Deuschle | Deutsche Bank | 8 questions · 13% challenging |
| Myles Walton | Wolfe Research | 8 questions · 0% challenging |
| Kristine Liwag | Morgan Stanley | 6 questions · 0% challenging |
| Sheila Kahyaoglu | Jefferies | 6 questions · 17% challenging |
| Doug Harned | Bernstein | 6 questions · 0% challenging |
| Rob Stallard | Vertical Research Partners | 6 questions · 0% challenging |
| Seth Seifman | JPMorgan | 5 questions · 0% challenging |
| David Strauss | Wells Fargo | 4 questions · 0% challenging |
| Ron Epstein | Bank of America | 4 questions · 0% challenging |
| Peter Arment | Robert W. Baird | 3 questions · 0% challenging |
| Firm | Analysts | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Wolfe Research | 2 analysts | 9 questions · 0% challenging |
| Deutsche Bank | 1 analyst | 8 questions · 13% challenging |
| Bank of America | 2 analysts | 6 questions · 0% challenging |
| Bernstein | 1 analyst | 6 questions · 0% challenging |
| Jefferies | 1 analyst | 6 questions · 17% challenging |
| JPMorgan | 2 analysts | 6 questions · 17% challenging |
| Morgan Stanley | 1 analyst | 6 questions · 0% challenging |
| Vertical Research Partners | 1 analyst | 6 questions · 0% challenging |
GAAP revenue YoY +19.1% → base 8. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
What HWM and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“the debt reduction that resulted from our closing the CAM divestiture to Howmet Aerospace for $1.8 billion.”
Stanley Black & Decker divested its aerospace fasteners (CAM) business to Howmet Aerospace for $1.8B, an M&A signal in which Howmet is the acquirer expanding its aerospace fastening portfolio.
“On the Airbus A320, 62 per month and the Airbus A350 at 6 per month.”
Howmet cites Airbus build rates in its guidance - A320 at 62/month and A350 at 6/month - as a key demand input.
“We have the rate for the 737 at an average of 42 per month for the year, on the 787 currently 7 per month, rising to 8 per month by the fourth quarter.”
Howmet cites Boeing build rates in its guidance - 737 averaging 42/month and 787 at 7/month rising to 8 by Q4 - as a key demand input.
“going from maybe Microsoft saying they're going to go from $125 billion to $185 billion or then Google matches it, then Amazon talks about $200 billion.”
Howmet's CEO cites hyperscaler capex (Amazon ~$200B) as underpinning surging industrial gas turbine demand.
“going from maybe Microsoft saying they're going to go from $125 billion to $185 billion or then Google matches it, then Amazon talks about $200 billion.”
Howmet's CEO cites hyperscaler capex (Google matching Microsoft's levels) as underpinning surging industrial gas turbine demand.
“going from maybe Microsoft saying they're going to go from $125 billion to $185 billion or then Google matches it, then Amazon talks about $200 billion.”
Howmet's CEO cites hyperscaler capex (Microsoft ~$125B to $185B) as underpinning surging industrial gas turbine demand.
“Howmet's improved leverage and strong free cash flow profile were reflected in Fitch's Q1 upgrade from BBB+ to A-, now 4 notches into investment grade.”
Fitch upgraded Howmet from BBB+ to A- in Q1, moving it four notches into investment grade.
“we closed the previously announced CAM Fastener acquisition on April 6 for approximately $1.8 billion.”
Howmet closed the ~$1.8B CAM Fastener acquisition on April 6, expanding its non-traditional fasteners portfolio.
“we acquired Brunner, a Fastener business based in Wisconsin for approximately $120 million in cash on February 6.”
Howmet acquired Brunner, a Wisconsin fastener business, for ~$120M in cash on February 6.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
HWM Howmet Aerospace | 9 | +19.1% | |
| AME Ametek | 8 | +11.3% | |
| AOS A. O. Smith | 1 | -1.9% | |
| CMI Cummins | 7 | +2.7% | |
| DOV Dover Corporation | 7 | +10.1% | |
| EMR Emerson Electric | 6 | +2.9% | |
| ETN Eaton Corporation | 8 | +16.8% | |
| GNRC Generac | 9 | +12.4% | |
| IEX IDEX Corporation | 8 | +8.9% | |
| IR Ingersoll Rand | 5 | +7.6% | |
| ITW Illinois Tool Works | 7 | +4.6% | |
| NDSN Nordson Corporation | 9 | +8.8% | |
| OTIS Otis Worldwide | 4 | +6.5% | |
| PH Parker Hannifin | 8 | +10.6% | |
| PNR Pentair | 6 | +2.6% | |
| ROK Rockwell Automation | 9 | +11.8% | |
| ROP Roper Technologies | 8 | +11.3% | |
| XYL Xylem Inc. | 5 | +2.7% |