Howmet Aerospace (HWM) FY2025 results: revenue $8.3 billion, up 11.1% on the year

Howmet Aerospace is a Delaware corporation with its principal office in Pittsburgh, supplying engineered products to the aerospace and transportation industries. It was previously named Arconic Inc. and before that Alcoa Inc., a company formed in 1888; on 1 April 2020 Arconic separated into two public companies, with Howmet keeping the Engine Products, Fastening Systems, Engineered Structures and Forged Wheels businesses while Rolled Products, Aluminum Extrusions and Building and Construction Systems went to Arconic Corporation. It operates in 19 countries, and by point of shipment North America generated 72% of 2025 sales and Europe 22%. Aerospace, commercial and defence together, was approximately 70% of what it took in during 2025, commercial transportation approximately 15%, gas turbines approximately 11% and other markets approximately 4%. In 2025 RTX Corporation and GE Aerospace each accounted for approximately 11% of third-party sales.

What it makes

Products include investment castings for jet engines and industrial gas turbines in nickel superalloys, titanium and aluminium, covering airfoils and structural parts; rolled rings for jet engines, mostly in nickel superalloys; fastening systems for aerospace, industrial and commercial transportation use in titanium, steel and nickel superalloys; forged jet engine components such as disks; machined and forged aircraft parts in titanium and aluminium; and forged aluminium commercial vehicle wheels, sold directly or through distributors. The company points to airfoils with advanced cooling and coatings for extreme temperatures, fasteners designed for lightweight composite airframes, lower assembly costs and lightning strike protection, and lightweight aluminium commercial wheels. In aerospace it states that it can produce more than 90% of all structural and rotating aero engine components. The gas turbines market covers turbine parts with advanced cooling and coatings for heavy-duty units and for small and mid-sized units, where the filing points to growing demand for electricity generation driven by data centre construction.

The four segments

Engine Products makes components mainly for aircraft engines and industrial gas turbines, including airfoils and rolled rings, and both rotating and structural parts, serving commercial and defence aerospace and the gas turbines market. Fastening Systems makes aerospace and industrial fastening systems plus commercial transportation fasteners and installation tools, with multi-material systems used on commercial and military aircraft, jet engines, industrial gas turbines, commercial vehicles, wind turbines, solar power systems and construction and industrial equipment. Engineered Structures produces titanium ingots and mill products for aerospace and defence and is vertically integrated into titanium forgings, extrusions and machining for airframe, wing, aero-engine and landing gear components, along with aluminium and nickel forgings and machined components and assemblies. Forged Wheels makes lightweight, high-strength forged aluminium wheels for trucks, buses and trailers under the Alcoa Wheels brand, including designs using its MagnaForce alloy and its Dura-Bright surface treatment, which resists corrosion and cuts maintenance; against standard steel wheels the aluminium versions deliver up to 59% weight saving per tractor-trailer.

Two acquisitions

On 22 December 2025 the company agreed with Stanley Black & Decker to buy Consolidated Aerospace Manufacturing, a wholly owned subsidiary of that group, for cash, with closing expected in the first half of 2026 subject to customary conditions and regulatory approvals; those operations are expected to sit in Fastening Systems. On 6 February 2026 it bought Brunner Manufacturing, a small privately held maker of fastener products in the United States, for cash, and that business is also to be reported within Fastening Systems.

Inputs, competition and people

Important raw materials in 2025 included ceramics, cobalt, nickel alloys and stainless steels, titanium alloys, platinum, superalloy materials, aluminium alloys, titanium sponge, titanium scrap, steels, vanadium alloys and energy across the four segments. These are generally bought from third-party suppliers under competitively priced supply contracts or bidding arrangements, and the filing states that the materials the business needs are and will continue to be available. All four segments face substantial and intense competition, and although the company points to its technology, manufacturing processes and experience, many of its products can be made by competitors using similar or alternative processes. It states that it continues as a market leader in most of its principal markets, resting on technological expertise, capabilities, capacity, quality, engaged employees and long-standing customer relationships. The filing also notes that international competition in castings, fasteners, rings and forgings may increase through alliances among engine manufacturers, aero-structure prime contractors and overseas companies, particularly where offset or local content rules create purchase obligations. Total worldwide employment at the end of 2025 was approximately 25,430 people in 23 countries.

From Howmet Aerospace's annual report on Form 10-K for the year ended 31 December 2025. The filing

Written from the 10-K filed 12 February 2026: read the full 10-K.