Howmet Aerospace (HWM) FY2022 results: revenue $5.7 billion, up 13.9% on the year
Howmet Aerospace Inc. (HWM) reported revenue of $5.7 billion for fiscal 2022, the year ended 31 December 2022, up 13.9% on the year before. Net income was $469 million, up 81.8%, and diluted earnings per share $1.11. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2023.
Revenue
$5.7 billion
+13.9% on the year
FY2015FY2022
Operating margin
16.2%
15.0% a year earlier
FY2015FY2022
Net income
$469 million
+81.8% on the year
FY2015FY2022
Diluted EPS
$1.11
+88.1% on the year
FY2015FY2022
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
733
449
9.0
+63.3%
Capital expenditure
193
199
267
-3.0%
Free cash flow
540
250
-258
+116.0%
Free cash flow margin
9.5%
5.0%
-4.9%
Cash from investing
-135
107
271
Cash from financing
-526
-1,444
-369
Depreciation and amortisation
265
270
338
-1.9%
Share-based compensation
54.0
40.0
46.0
+35.0%
Buybacks
400
430
73.0
-7.0%
Dividends paid
44.0
19.0
11.0
+131.6%
Dividend per share
$0.10
$0.04
$0.02
+150.0%
Diluted shares, weighted
421m
435m
439m
-3.2%
Shares outstanding at period end
412m
422m
433m
-2.3%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
3,601
3,508
3,577
+2.7%
Non-controlling interest
n/a
0.0
0.0
Short-term borrowings
0.0
5.0
376
Debt
4,162
4,232
5,075
-1.7%
Operating lease liabilities
83.0
81.0
100
+2.5%
Other liabilities
2,409
2,393
2,315
+0.7%
Total liabilities and equity
10,255
10,219
11,443
+0.4%
Fixed assets
2,332
2,467
2,592
-5.5%
Goodwill
4,013
4,067
4,102
-1.3%
Intangible assets
521
549
571
-5.1%
Cash and equivalents
791
720
1,610
+9.9%
Receivables
506
367
328
+37.9%
Inventory
1,609
1,402
1,488
+14.8%
Other assets
483
647
752
-25.3%
Total assets
10,255
10,219
11,443
+0.4%
10-K for the year ended 31 December 2022, filed 14 February 2023: the filing.