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Howmet (HWM) Q3 Earnings Preview: What You Should Know Beyond the Headline Estimates
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Wall Street analysts forecast that Howmet (HWM - Free Report) will report quarterly earnings of $1.37 per share in its upcoming release, pointing to a year-over-year increase of 44.2%. It is anticipated that revenues will amount to $2.59 billion, exhibiting an increase of 24% compared to the year-ago quarter.
Over the last 30 days, there has been an upward revision of 0.6% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
That said, let's delve into the average estimates of some Howmet metrics that Wall Street analysts commonly model and monitor.
Analysts forecast 'Total Sales- Engine Products' to reach $1.42 billion. The estimate indicates a change of +28.8% from the prior-year quarter.
It is projected by analysts that the 'Total Sales- Forged Wheels' will reach $286.77 million. The estimate points to a change of +16.1% from the year-ago quarter.
The consensus among analysts is that 'Total Sales- Engineered Structures' will reach $277.20 million. The estimate indicates a year-over-year change of -4.7%.
The combined assessment of analysts suggests that 'Total Sales- Fastening Systems' will likely reach $599.84 million. The estimate indicates a change of +33.9% from the prior-year quarter.
Analysts predict that the 'Adjusted EBITDA- Engine Products' will reach $534.75 million. Compared to the current estimate, the company reported $368.00 million in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Adjusted EBITDA- Forged Wheels' of $80.30 million. Compared to the current estimate, the company reported $73.00 million in the same quarter of the previous year.
The consensus estimate for 'Adjusted EBITDA- Engineered Structures' stands at $65.84 million. The estimate compares to the year-ago value of $58.00 million.
Analysts expect 'Adjusted EBITDA- Fastening Systems' to come in at $181.45 million. Compared to the present estimate, the company reported $138.00 million in the same quarter last year.
Howmet shares have witnessed a change of -14.9% in the past month, in contrast to the Zacks S&P 500 composite's -0.8% move. With a Zacks Rank #1 (Strong Buy), HWM is expected outperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Howmet (HWM) Q3 Earnings Preview: What You Should Know Beyond the Headline Estimates
Wall Street analysts forecast that Howmet (HWM - Free Report) will report quarterly earnings of $1.37 per share in its upcoming release, pointing to a year-over-year increase of 44.2%. It is anticipated that revenues will amount to $2.59 billion, exhibiting an increase of 24% compared to the year-ago quarter.
Over the last 30 days, there has been an upward revision of 0.6% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
That said, let's delve into the average estimates of some Howmet metrics that Wall Street analysts commonly model and monitor.
Analysts forecast 'Total Sales- Engine Products' to reach $1.42 billion. The estimate indicates a change of +28.8% from the prior-year quarter.
It is projected by analysts that the 'Total Sales- Forged Wheels' will reach $286.77 million. The estimate points to a change of +16.1% from the year-ago quarter.
The consensus among analysts is that 'Total Sales- Engineered Structures' will reach $277.20 million. The estimate indicates a year-over-year change of -4.7%.
The combined assessment of analysts suggests that 'Total Sales- Fastening Systems' will likely reach $599.84 million. The estimate indicates a change of +33.9% from the prior-year quarter.
Analysts predict that the 'Adjusted EBITDA- Engine Products' will reach $534.75 million. Compared to the current estimate, the company reported $368.00 million in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Adjusted EBITDA- Forged Wheels' of $80.30 million. Compared to the current estimate, the company reported $73.00 million in the same quarter of the previous year.
The consensus estimate for 'Adjusted EBITDA- Engineered Structures' stands at $65.84 million. The estimate compares to the year-ago value of $58.00 million.
Analysts expect 'Adjusted EBITDA- Fastening Systems' to come in at $181.45 million. Compared to the present estimate, the company reported $138.00 million in the same quarter last year.
View all Key Company Metrics for Howmet here>>>Howmet shares have witnessed a change of -14.9% in the past month, in contrast to the Zacks S&P 500 composite's -0.8% move. With a Zacks Rank #1 (Strong Buy), HWM is expected outperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .