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Stock impact report

Howmet Aerospace (formerly Arconic Inc.) Reports Preliminary First Quarter 2020 Financial Results

Howmet Aerospace Inc. (HWM) 
Company Research Source: Business Wire
Company Expects to Report Full First Quarter 2020 Results on May 5, 2020 PITTSBURGH--(BUSINESS WIRE)--On April 1, 2020, Arconic Inc. completed the separation of its business into two independent, publicly-traded companies: Howmet Aerospace Inc. (the new name for Arconic Inc.) and Arconic Corporation (“Arconic Corp”). The financial results of Howmet Aerospace prior to April 1, 2020 include the Global Rolled Products business (which became Arconic Corp as of April 1, 2020).First Quarter 2020 HighlightsExpected revenue of ~$3.2 billion, down ~9% YoY; expected organic revenue1 down ~6% YoYNet income is expected to be in the range of $205 million to $215 million, or $0.47 to $0.49 per share, versus net income of $187 million, or $0.39 per share, in the first quarter 2019Net income excluding special items is expected to be in the range of $265 million to $275 million, or $0.60 to $0.62 per share, versus $208 million, or $0.43 per share, in the first quarter 2019Operating income is expect Show less Read more
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