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Howmet (HWM) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended June 2023, Howmet (HWM - Free Report) reported revenue of $1.65 billion, up 18.3% over the same period last year. EPS came in at $0.44, compared to $0.35 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.61 billion, representing a surprise of +2.40%. The company delivered an EPS surprise of +2.33%, with the consensus EPS estimate being $0.43.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Howmet performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Total sales- Engine Products: $821 million versus $790.84 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +25.7% change.
Total sales- Forged Wheels: $298 million versus the four-analyst average estimate of $288.04 million. The reported number represents a year-over-year change of +6.8%.
Total sales- Engineered Structures: $200 million compared to the $216.41 million average estimate based on four analysts. The reported number represents a change of +7.5% year over year.
Total sales- Fastening Systems: $329 million compared to the $313.14 million average estimate based on four analysts. The reported number represents a change of +18.8% year over year.
Adjusted EBITDA- Engine Products: $223 million versus $212.72 million estimated by three analysts on average.
Adjusted EBITDA- Forged Wheels: $81 million versus $77.69 million estimated by three analysts on average.
Adjusted EBITDA- Engineered Structures: $20 million compared to the $32.33 million average estimate based on three analysts.
Adjusted EBITDA- Fastening Systems: $64 million versus $58.84 million estimated by three analysts on average.
Shares of Howmet have returned +4.1% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Howmet (HWM) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2023, Howmet (HWM - Free Report) reported revenue of $1.65 billion, up 18.3% over the same period last year. EPS came in at $0.44, compared to $0.35 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.61 billion, representing a surprise of +2.40%. The company delivered an EPS surprise of +2.33%, with the consensus EPS estimate being $0.43.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Howmet performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Total sales- Engine Products: $821 million versus $790.84 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +25.7% change.
- Total sales- Forged Wheels: $298 million versus the four-analyst average estimate of $288.04 million. The reported number represents a year-over-year change of +6.8%.
- Total sales- Engineered Structures: $200 million compared to the $216.41 million average estimate based on four analysts. The reported number represents a change of +7.5% year over year.
- Total sales- Fastening Systems: $329 million compared to the $313.14 million average estimate based on four analysts. The reported number represents a change of +18.8% year over year.
- Adjusted EBITDA- Engine Products: $223 million versus $212.72 million estimated by three analysts on average.
- Adjusted EBITDA- Forged Wheels: $81 million versus $77.69 million estimated by three analysts on average.
- Adjusted EBITDA- Engineered Structures: $20 million compared to the $32.33 million average estimate based on three analysts.
- Adjusted EBITDA- Fastening Systems: $64 million versus $58.84 million estimated by three analysts on average.
View all Key Company Metrics for Howmet here>>>Shares of Howmet have returned +4.1% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.