Howmet Aerospace (HWM) Q2 FY2026 earnings: revenue $2.5 billion, up 24.1% on the year
Howmet Aerospace Inc. (HWM) reported revenue of $2.5 billion for Q2 FY2026, the quarter ended 30 June 2026, up 24.1% on the same quarter a year earlier. Net income was $534 million, up 31.2% on the year, and diluted earnings per share $1.33. The figures are the company's own, from the 10-Q it filed with the SEC on 6 August 2026.
Revenue
$2.5 billion
+24.1% on the year · +10.1% on the quarter
Q3 FY2024Q2 FY2026
Operating margin
27.9%
25.4% a year earlier
Q3 FY2024Q2 FY2026
Net income
$534 million
+31.2% on the year · -7.9% on the quarter
Q3 FY2024Q2 FY2026
Diluted EPS
$1.33
+33.0% on the year · -7.6% on the quarter
Q3 FY2024Q2 FY2026
this quarterthe same quarter a year earlierHover a bar for its figure.
What management said
Guidance figures: 5 raised, 4 new.
Revenue up 24 percent year over year: Revenue was $2,547 million, with organic growth of 21% excluding net acquisitions; six-month revenue was $4,860 million, up 22%.
Adjusted EBITDA up 39 percent: Adjusted EBITDA was $817 million at a 32.1% margin, about 340 basis points higher; growth was attributed to commercial aerospace, defense and gas turbines.
Engine Products drove segment growth: Engine Products third-party sales were $1,373 million, up 32%; segment adjusted EBITDA margin was 37.7%, up about 470 basis points.
$ 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
Q2 FY2026
Q1 FY2026
Q2 FY2025
On the quarter
On the year
Last 8 quarters
Operating cash flow
583
453
446
+28.7%
+30.7%
Capital expenditure
104
94.0
102
+10.6%
+2.0%
Free cash flow
479
359
344
+33.4%
+39.2%
Free cash flow margin
18.8%
15.5%
16.8%
Cash from investing
-1,914
14.0
-97.0
Cash from financing
-541
1,226
-339
Depreciation and amortisation
84.0
74.0
69.0
+13.5%
+21.7%
Buybacks
300
300
175
0.0%
+71.4%
Dividends paid
49.0
48.0
41.0
+2.1%
+19.5%
Dividend per share
$0.12
$0.12
$0.10
0.0%
+20.0%
Diluted shares, weighted
402m
403m
406m
-0.2%
-1.0%
Shares outstanding at period end
400m
401m
404m
-0.2%
-1.0%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q2 FY2026
Q1 FY2026
Q2 FY2025
On the quarter
On the year
Last 8 quarters
Shareholders' equity
5,732
5,522
5,042
+3.8%
+13.7%
Debt
4,501
4,686
3,258
-3.9%
+38.2%
Operating lease liabilities
117
118
129
-0.8%
-9.3%
Other liabilities
2,901
2,741
2,617
+5.8%
+10.9%
Total liabilities and equity
13,251
13,067
11,046
+1.4%
+20.0%
Fixed assets
2,817
2,614
2,526
+7.8%
+11.5%
Goodwill
5,084
4,078
4,065
+24.7%
+25.1%
Intangible assets
869
451
467
+92.7%
+86.1%
Cash and equivalents
563
2,435
545
-76.9%
+3.3%
Receivables
1,040
940
888
+10.6%
+17.1%
Inventory
2,183
1,975
1,964
+10.5%
+11.2%
Other assets
695
574
591
+21.1%
+17.6%
Total assets
13,251
13,067
11,046
+1.4%
+20.0%
Questions
What was Howmet Aerospace's revenue in Q2 FY2026?
Howmet Aerospace (HWM) reported revenue of $2.5 billion for Q2 FY2026, the quarter ended 30 June 2026, up 24.1% on the same quarter a year earlier.
How much did Howmet Aerospace earn in Q2 FY2026?
Net income for Q2 FY2026 was $534 million, up 31.2% on the year, and diluted earnings per share $1.33.
When did Howmet Aerospace report Q2 FY2026 results?
Howmet Aerospace filed its 10-Q for the quarter ended 30 June 2026 with the SEC on 6 August 2026.
Each quarter as filed, linked to its filing. Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.
10-Q for the period ended 30 June 2026, filed 6 August 2026: the filing.