Howmet Aerospace Provides Business Update Related to COVID-19
Howmet Aerospace Inc. (HWM)
Company Research
Source: Business Wire
Key AnnouncementsCOVID-19 impact on operationsCost cutting programDividend suspension to preserve cash and provide additional flexibilityCompany to provide updated 2020 outlook with its first quarter 2020 earnings release PITTSBURGH--(BUSINESS WIRE)--Howmet Aerospace, Inc. (NYSE: HWM) indicated that certain original equipment manufacturer (“OEM”) customers have suspended manufacturing operations in North America and Europe on a temporary basis due to matters associated with COVID-19 (coronavirus). These temporary suspensions are impacting operations at certain Howmet Aerospace facilities. As a result, the Company is taking a series of actions to address the financial impact.Howmet Aerospace has commenced plans to reduce costs and is targeting approximately $100M of run rate savings.In addition, the Company has suspended the dividend on its Common Stock, preserving cash and providing additional flexibility in the current environment.Although the Company is currently unable to reason
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HWM
News
- Howmet Aerospace Board Approves Preferred Stock DividendsBusiness Wire
- Howmet Aerospace Inc. (NYSE: HWM) had its price target raised by analysts at Bank of America Co. from $100.00 to $135.00. They now have a "buy" rating on the stock.MarketBeat
- Howmet Aerospace Inc. (NYSE: HWM) had its price target raised by analysts at Wells Fargo & Company from $113.00 to $129.00. They now have an "overweight" rating on the stock.MarketBeat
- Are Aerospace Stocks Lagging Howmet Aerospace (HWM) This Year? [Yahoo! Finance]Yahoo! Finance
- Howmet Aerospace Inc. (NYSE: HWM) had its price target raised by analysts at Barclays PLC from $100.00 to $130.00. They now have an "overweight" rating on the stock.MarketBeat
HWM
Earnings
- 11/6/24 - Beat
HWM
Sec Filings
- 11/12/24 - Form SC
- 11/7/24 - Form 10-Q
- 11/6/24 - Form 8-K
- HWM's page on the SEC website