Howmet Aerospace reported third quarter 2026 results that exceeded the high end of guidance across all metrics. Revenue growth of 29% year over year (25% organic) represents the strongest quarterly rate on record for the company, supported by significant volume increases in commercial aerospace and a surge in the gas turbines market. In response to robust demand and free cash flow generation, the board authorized a massive expansion of the capital return program.
Key Highlights
- Revenue reached $2.70 billion, led by 45% growth in the gas turbines segment and 32% growth in commercial aerospace.
- Adjusted EBITDA margins expanded 310 basis points to 32.5%, driven by operating leverage and productivity gains in Engine Products.
- Full-year 2026 guidance was raised across the board, with the revenue midpoint moving to $10.30 billion and Adjusted EPS to $5.50.
- Management introduced preliminary 2027 revenue guidance of approximately $11.5 billion, implying roughly 12% year-over-year growth.
- The Board authorized an additional $5 billion for share repurchases, following $500 million in buybacks executed during the quarter.