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The Zacks Consensus Estimate for the company’s second-quarter earnings has remained steady in the past 60 days. The company has an impressive earnings surprise history, having outperformed the consensus estimate in two of the preceding four quarters while matching in the other two quarters, the average beat being 4.2%.
Let’s see how things have shaped up for Howmet this earnings season.
Factors to Note
Strength in the commercial aerospace, defense aerospace, industrial gas turbine, and oil and gas markets are expected to have boosted the Engine Products segment’s revenues. The Zacks Consensus Estimate for Engine Products’ revenues in the second quarter suggests a 21.1% increase from the year-ago reported number.
Growth in the narrow-body commercial aerospace and defense aerospace markets is expected to have supported the Fastening Systems segments’ performance in the to-be-reported quarter while higher sales volumes are likely to have aided the Forged Wheels segment. The consensus mark for Fastening Systems’ revenues shows a 13% rise from the second-quarter 2022 reported number. The same for Forged Wheels segment reflects an approximate 3% increase from the year-ago reported number.
Solid momentum in the commercial aerospace market is expected to have aided the Engineered Structures unit. The Zacks Consensus Estimate for revenues in the segment hints at a 16.1% increase from the second-quarter 2022 reported number.
Pricing actions are likely to have boosted the company’s top line. The Zacks Consensus Estimate for second-quarter revenues indicates a 15.3% jump from the year-ago reported figure.
However, increasing costs and expenses are likely to have hurt HWM’s bottom line in the to-be-reported quarter. Foreign currency headwinds are expected to have impacted the company’s top-line performance.
Our proven model suggests an earnings beat for HWM this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is the case here, as elaborated below.
Earnings ESP: HWM has an Earnings ESP of +1.99% as the Most Accurate Estimate is pegged at 44 cents, higher than the Zacks Consensus Estimate of 43 cents. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: HWM sports a Zacks Rank of 1.
Highlights of Q1 Earnings
Howmet first-quarter 2023 adjusted earnings of 42 cents per share beat the Zacks Consensus Estimate of adjusted earnings of 38 cents per share. The bottom line improved 35.5% year over year. Total revenues of $1,603 million surpassed the consensus estimate of $1,495 million. The top line increased 21.1% from the year-ago quarter.
Other Stocks to Consider
Here are some other companies within the broader Construction sector, which according to our model, also have the right combination of elements to beat on earnings this reporting cycle.
The company is scheduled to release third-quarter fiscal 2023 (ended Jun 30, 2023) results on Aug 7. ACM’s earnings have surpassed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 4.8%.
Century Communities, Inc. (CCS - Free Report) has an Earnings ESP of +2.08% and a Zacks Rank of 2. The company is scheduled to release second-quarter results on Jul 26.
CCS’ earnings have surpassed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 16.2%.
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Howmet (HWM) to Report Q2 Earnings: What's in the Cards?
Howmet Aerospace Inc. (HWM - Free Report) is scheduled to release second-quarter 2023 earnings on Aug 1, before the market open.
The Zacks Consensus Estimate for the company’s second-quarter earnings has remained steady in the past 60 days. The company has an impressive earnings surprise history, having outperformed the consensus estimate in two of the preceding four quarters while matching in the other two quarters, the average beat being 4.2%.
Let’s see how things have shaped up for Howmet this earnings season.
Factors to Note
Strength in the commercial aerospace, defense aerospace, industrial gas turbine, and oil and gas markets are expected to have boosted the Engine Products segment’s revenues. The Zacks Consensus Estimate for Engine Products’ revenues in the second quarter suggests a 21.1% increase from the year-ago reported number.
Growth in the narrow-body commercial aerospace and defense aerospace markets is expected to have supported the Fastening Systems segments’ performance in the to-be-reported quarter while higher sales volumes are likely to have aided the Forged Wheels segment. The consensus mark for Fastening Systems’ revenues shows a 13% rise from the second-quarter 2022 reported number. The same for Forged Wheels segment reflects an approximate 3% increase from the year-ago reported number.
Solid momentum in the commercial aerospace market is expected to have aided the Engineered Structures unit. The Zacks Consensus Estimate for revenues in the segment hints at a 16.1% increase from the second-quarter 2022 reported number.
Pricing actions are likely to have boosted the company’s top line. The Zacks Consensus Estimate for second-quarter revenues indicates a 15.3% jump from the year-ago reported figure.
However, increasing costs and expenses are likely to have hurt HWM’s bottom line in the to-be-reported quarter. Foreign currency headwinds are expected to have impacted the company’s top-line performance.
Howmet Aerospace Inc. Price and EPS Surprise
Howmet Aerospace Inc. price-eps-surprise | Howmet Aerospace Inc. Quote
Earnings Whispers
Our proven model suggests an earnings beat for HWM this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is the case here, as elaborated below.
Earnings ESP: HWM has an Earnings ESP of +1.99% as the Most Accurate Estimate is pegged at 44 cents, higher than the Zacks Consensus Estimate of 43 cents. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: HWM sports a Zacks Rank of 1.
Highlights of Q1 Earnings
Howmet first-quarter 2023 adjusted earnings of 42 cents per share beat the Zacks Consensus Estimate of adjusted earnings of 38 cents per share. The bottom line improved 35.5% year over year. Total revenues of $1,603 million surpassed the consensus estimate of $1,495 million. The top line increased 21.1% from the year-ago quarter.
Other Stocks to Consider
Here are some other companies within the broader Construction sector, which according to our model, also have the right combination of elements to beat on earnings this reporting cycle.
AECOM (ACM - Free Report) has an Earnings ESP of +1.05% and a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company is scheduled to release third-quarter fiscal 2023 (ended Jun 30, 2023) results on Aug 7. ACM’s earnings have surpassed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 4.8%.
Century Communities, Inc. (CCS - Free Report) has an Earnings ESP of +2.08% and a Zacks Rank of 2. The company is scheduled to release second-quarter results on Jul 26.
CCS’ earnings have surpassed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 16.2%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.