$HWM
Howmet Aerospace Inc. Stock $hwm

$hwm Overview Financials Valuation SEC Filings Company Website

2023 Q3 Form 10-Q Financial Statement

#000000428123000016 Filed on August 01, 2023

Income Statement

Concept	2023 Q3	2023 Q2	2022 Q2
Revenue	$1.658B	$1.648B	$1.393B
YoY Change	15.7%	18.31%	16.57%
Cost Of Revenue	$1.183B	$1.196B	$987.0M
YoY Change	12.03%	21.18%	15.17%
Gross Profit	$475.0M	$452.0M	$406.0M
YoY Change	25.99%	11.33%	20.12%
Gross Profit Margin	28.65%	27.43%	29.15%
Selling, General & Admin	$87.00M	$88.00M	$83.00M
YoY Change	19.18%	6.02%	50.91%
% of Gross Profit	18.32%	19.47%	20.44%
Research & Development	$9.000M	$9.000M	$9.000M
YoY Change	28.57%	0.0%	125.0%
% of Gross Profit	1.89%	1.99%	2.22%
Depreciation & Amortization	$68.00M	$67.00M	$67.00M
YoY Change	4.62%	0.0%	0.0%
% of Gross Profit	14.32%	14.82%	16.5%
Operating Expenses	$96.00M	$164.0M	$92.00M
YoY Change	20.0%	78.26%	55.93%
Operating Profit	$307.0M	$288.0M	$241.0M
YoY Change	34.65%	19.5%	16.43%
Interest Expense	$54.00M	-$57.00M	$57.00M
YoY Change	-5.26%	-200.0%	-13.64%
% of Operating Profit	17.59%	-19.79%	23.65%
Other Income/Expense, Net	-$11.00M	$15.00M	$1.000M
YoY Change	-83.58%	1400.0%	-112.5%
Pretax Income	$242.0M	$243.0M	$183.0M
YoY Change	132.69%	32.79%	66.36%
Income Tax	$54.00M	$50.00M	$36.00M
% Of Pretax Income	22.31%	20.58%	19.67%
Net Earnings	$188.0M	$193.0M	$147.0M
YoY Change	135.0%	31.29%	98.65%
Net Earnings / Revenue	11.34%	11.71%	10.55%
Basic Earnings Per Share	$0.45	$0.47	$0.35
Diluted Earnings Per Share	$0.45	$0.46	$0.35
COMMON SHARES
Basic Shares Outstanding	412.2M shares	413.3M shares	417.0M shares
Diluted Shares Outstanding	415.0M shares	417.0M shares	422.0M shares

Balance Sheet

Concept	2023 Q3	2023 Q2	2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$424.0M	$535.0M	$537.0M
YoY Change	-6.4%	-0.37%	-24.9%
Cash & Equivalents	$424.0M	$535.0M	$537.0M
Short-Term Investments
Other Short-Term Assets	$212.0M	$207.0M	$187.0M
YoY Change	17.13%	10.7%	-11.79%
Inventory	$1.748B	$1.715B	$1.563B
Prepaid Expenses
Receivables	$714.0M	$657.0M	$501.0M
Other Receivables	$13.00M	$14.00M	$49.00M
Total Short-Term Assets	$3.111B	$3.128B	$2.837B
YoY Change	9.31%	10.26%	1.36%
LONG-TERM ASSETS
Property, Plant & Equipment	$2.296B	$2.426B	$2.340B
YoY Change	0.35%	3.68%	-6.96%
Goodwill	$4.007B	$4.026B	$4.012B
YoY Change	1.06%	0.35%	-1.91%
Intangibles	$507.0M	$513.0M	$534.0M
YoY Change	-3.06%	-3.93%	-4.13%
Long-Term Investments
YoY Change
Other Assets	$200.0M	$140.0M	$211.0M
YoY Change	-0.5%	-33.65%	-8.26%
Total Long-Term Assets	$7.055B	$7.105B	$7.215B
YoY Change	-0.4%	-1.52%	-4.82%
TOTAL ASSETS
Total Short-Term Assets	$3.111B	$3.128B	$2.837B
Total Long-Term Assets	$7.055B	$7.105B	$7.215B
Total Assets	$10.17B	$10.23B	$10.05B
YoY Change	2.39%	1.8%	-3.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$894.0M	$881.0M	$814.0M
YoY Change	10.1%	8.23%	28.8%
Accrued Expenses	$330.0M	$316.0M	$305.0M
YoY Change	8.91%	3.61%	-0.33%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$1.000M
YoY Change	-100.0%	-100.0%	-92.31%
Long-Term Debt Due		$0.00	$1.000M
YoY Change		-100.0%	-92.31%
Total Short-Term Liabilities	$1.454B	$1.410B	$1.322B
YoY Change	5.29%	6.66%	7.74%
LONG-TERM LIABILITIES
Long-Term Debt	$3.794B	$3.989B	$4.169B
YoY Change	-9.02%	-4.32%	-1.37%
Other Long-Term Liabilities	$1.046B	$1.059B	$1.140B
YoY Change	-5.34%	-7.11%	-14.09%
Total Long-Term Liabilities	$4.840B	$5.048B	$4.169B
YoY Change	16.07%	21.08%	-1.37%
TOTAL LIABILITIES
Total Short-Term Liabilities	$1.454B	$1.410B	$1.322B
Total Long-Term Liabilities	$4.840B	$5.048B	$4.169B
Total Liabilities	$6.294B	$6.458B	$6.631B
YoY Change	-5.44%	-2.61%	-2.21%
SHAREHOLDERS EQUITY
Retained Earnings	$1.485B	$1.334B	$863.0M
YoY Change	61.94%	54.58%	66.92%
Common Stock	$412.0M	$412.0M	$416.0M
YoY Change	-0.48%	-0.96%	-3.03%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$3.872B	$3.775B	$3.421B
YoY Change
Total Liabilities & Shareholders Equity	$10.17B	$10.23B	$10.05B
YoY Change	2.39%	1.8%	-3.15%

Cashflow Statement

Concept	2023 Q3	2023 Q2	2022 Q2
OPERATING ACTIVITIES
Net Income	$188.0M	$193.0M	$147.0M
YoY Change	135.0%	31.29%	98.65%
Depreciation, Depletion And Amortization	$68.00M	$67.00M	$67.00M
YoY Change	4.62%	0.0%	0.0%
Cash From Operating Activities	$191.0M	$229.0M	$158.0M
YoY Change	193.85%	44.94%	85.88%
INVESTING ACTIVITIES
Capital Expenditures	$59.00M	$41.00M	$44.00M
YoY Change	40.48%	-6.82%	22.22%
Acquisitions
YoY Change
Other Investing Activities	$1.000M	$0.00	$40.00M
YoY Change	0.0%	-100.0%	-68.5%
Cash From Investing Activities	-$58.00M	-$41.00M	-$4.000M
YoY Change	41.46%	925.0%	-104.4%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net			$60.00M
YoY Change			-70.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-243.0M	-189.0M	-137.0M
YoY Change	129.25%	37.96%	-80.43%
NET CHANGE
Cash From Operating Activities	191.0M	229.0M	158.0M
Cash From Investing Activities	-58.00M	-41.00M	-4.000M
Cash From Financing Activities	-243.0M	-189.0M	-137.0M
Net Change In Cash	-110.0M	-1.000M	17.00M
YoY Change	34.15%	-105.88%	-103.24%
FREE CASH FLOW
Cash From Operating Activities	$191.0M	$229.0M	$158.0M
Capital Expenditures	$59.00M	$41.00M	$44.00M
Free Cash Flow	$132.0M	$188.0M	$114.0M
YoY Change	473.91%	64.91%	132.65%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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CY2022Q4	us-gaap	Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List OperatingLeaseRightOfUseAssetStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2023#OtherAssetsNoncurrent
CY2022Q4	us-gaap	Operating Lease Liability Current Statement Of Financial Position Extensible List OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2023#OtherLiabilitiesCurrent
CY2023Q2	us-gaap	Operating Lease Liability Current Statement Of Financial Position Extensible List OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2023#OtherLiabilitiesCurrent
CY2023Q2	us-gaap	Operating Lease Liability Noncurrent Statement Of Financial Position Extensible List OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2023#DeferredCreditsAndOtherLiabilitiesNoncurrent
CY2022Q4	us-gaap	Operating Lease Liability Noncurrent Statement Of Financial Position Extensible List OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2023#DeferredCreditsAndOtherLiabilitiesNoncurrent
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	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-65000000	usd
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CY2023Q1	us-gaap	Supplier Finance Program Payment Timing Period SupplierFinanceProgramPaymentTimingPeriod	P120D
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CY2023Q2	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	13000000	usd
CY2023Q2	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	243000000	usd
CY2023Q2	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	41000000	usd
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CY2023Q2	us-gaap	Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate	56000000	usd
CY2022Q2	us-gaap	Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate	44000000	usd
CY2023Q2	hwm	Effective Income Tax Reconciliation Change In Estimate From Prior Period Amount EffectiveIncomeTaxReconciliationChangeInEstimateFromPriorPeriodAmount	0	usd
CY2022Q2	hwm	Effective Income Tax Reconciliation Change In Estimate From Prior Period Amount EffectiveIncomeTaxReconciliationChangeInEstimateFromPriorPeriodAmount	-1000000	usd
CY2023Q2	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	193000000	usd
CY2023Q2	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	193000000	usd
	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	277000000	usd
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	277000000	usd
CY2023Q2	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	412000000	shares
CY2022Q2	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	416000000	shares
CY2021Q3	us-gaap	Stock Repurchase Program Authorized Amount1 StockRepurchaseProgramAuthorizedAmount1	1500000000	usd
CY2023Q1	us-gaap	Stock Repurchased During Period Shares StockRepurchasedDuringPeriodShares	576629	shares
CY2023Q1	us-gaap	Treasury Stock Acquired Average Cost Per Share TreasuryStockAcquiredAverageCostPerShare	43.36
CY2023Q1	us-gaap	Stock Repurchased During Period Value StockRepurchasedDuringPeriodValue	25000000	usd
CY2023Q2	us-gaap	Stock Repurchased During Period Shares StockRepurchasedDuringPeriodShares	2246294	shares
CY2023Q2	us-gaap	Treasury Stock Acquired Average Cost Per Share TreasuryStockAcquiredAverageCostPerShare	44.52
CY2023Q2	us-gaap	Stock Repurchased During Period Value StockRepurchasedDuringPeriodValue	100000000	usd
	us-gaap	Stock Repurchased During Period Shares StockRepurchasedDuringPeriodShares	2822923	shares
	us-gaap	Treasury Stock Acquired Average Cost Per Share TreasuryStockAcquiredAverageCostPerShare	44.28
	us-gaap	Stock Repurchased During Period Value StockRepurchasedDuringPeriodValue	125000000	usd
CY2022Q1	us-gaap	Stock Repurchased During Period Shares StockRepurchasedDuringPeriodShares	5147307	shares
CY2022Q1	us-gaap	Treasury Stock Acquired Average Cost Per Share TreasuryStockAcquiredAverageCostPerShare	34.00
CY2022Q1	us-gaap	Stock Repurchased During Period Value StockRepurchasedDuringPeriodValue	175000000	usd
CY2022Q2	us-gaap	Stock Repurchased During Period Shares StockRepurchasedDuringPeriodShares	1770271	shares
CY2022Q2	us-gaap	Treasury Stock Acquired Average Cost Per Share TreasuryStockAcquiredAverageCostPerShare	33.89
CY2022Q2	us-gaap	Stock Repurchased During Period Value StockRepurchasedDuringPeriodValue	60000000	usd
	us-gaap	Stock Repurchased During Period Shares StockRepurchasedDuringPeriodShares	6917578	shares
	us-gaap	Treasury Stock Acquired Average Cost Per Share TreasuryStockAcquiredAverageCostPerShare	33.97
	us-gaap	Stock Repurchased During Period Value StockRepurchasedDuringPeriodValue	235000000	usd
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CY2023Q2	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	488000000	usd
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CY2022Q4	us-gaap	Inventory Raw Materials Net Of Reserves InventoryRawMaterialsNetOfReserves	317000000	usd
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CY2022Q4	us-gaap	Inventory Supplies Net Of Reserves InventorySuppliesNetOfReserves	54000000	usd
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CY2022Q4	us-gaap	Inventory Net InventoryNet	1609000000	usd
CY2023Q2	us-gaap	Lifo Inventory Amount LIFOInventoryAmount	423000000	usd
CY2022Q4	us-gaap	Lifo Inventory Amount LIFOInventoryAmount	441000000	usd
CY2023Q2	us-gaap	Inventory Lifo Reserve InventoryLIFOReserve	228000000	usd
CY2022Q4	us-gaap	Inventory Lifo Reserve InventoryLIFOReserve	220000000	usd
CY2023Q2	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	5091000000	usd
CY2022Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	5011000000	usd
CY2023Q2	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	2962000000	usd
CY2022Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	2858000000	usd
CY2023Q2	hwm	Properties Plants And Equipment Excluding Construction Work In Progress PropertiesPlantsAndEquipmentExcludingConstructionWorkInProgress	2129000000	usd
CY2022Q4	hwm	Properties Plants And Equipment Excluding Construction Work In Progress PropertiesPlantsAndEquipmentExcludingConstructionWorkInProgress	2153000000	usd
CY2023Q2	us-gaap	Construction In Progress Gross ConstructionInProgressGross	190000000	usd
CY2022Q4	us-gaap	Construction In Progress Gross ConstructionInProgressGross	179000000	usd
CY2023Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	2319000000	usd
CY2022Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	2332000000	usd
	us-gaap	Capital Expenditures Incurred But Not Yet Paid CapitalExpendituresIncurredButNotYetPaid	48000000	usd
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CY2023Q2	us-gaap	Operating Lease Cost OperatingLeaseCost	16000000	usd
CY2022Q2	us-gaap	Operating Lease Cost OperatingLeaseCost	14000000	usd
	us-gaap	Operating Lease Cost OperatingLeaseCost	32000000	usd
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CY2023Q2	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	107000000	usd
CY2022Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	111000000	usd
CY2023Q2	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	34000000	usd
CY2022Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	32000000	usd
CY2023Q2	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	77000000	usd
CY2022Q4	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	83000000	usd
CY2023Q2	us-gaap	Operating Lease Liability OperatingLeaseLiability	111000000	usd
CY2022Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	115000000	usd
CY2023Q2	hwm	Other Long Term Debt Including Unamortized Debt Discounts And Issuance Costs OtherLongTermDebtIncludingUnamortizedDebtDiscountsAndIssuanceCosts	-16000000	usd
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CY2023Q2	us-gaap	Long Term Debt LongTermDebt	3989000000	usd
CY2022Q4	us-gaap	Long Term Debt LongTermDebt	4162000000	usd
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	hwm	Number Of Cleanup Locations NumberOfCleanupLocations	30	location
CY2023Q2	us-gaap	Accrual For Environmental Loss Contingencies AccrualForEnvironmentalLossContingencies	17000000	usd
CY2022Q4	us-gaap	Accrual For Environmental Loss Contingencies AccrualForEnvironmentalLossContingencies	16000000	usd
CY2022Q4	us-gaap	Accrued Environmental Loss Contingencies Current AccruedEnvironmentalLossContingenciesCurrent	6000000	usd
CY2023Q2	us-gaap	Accrued Environmental Loss Contingencies Current AccruedEnvironmentalLossContingenciesCurrent	6000000	usd
CY2023Q2	us-gaap	Accrual For Environmental Loss Contingencies Payments1 AccrualForEnvironmentalLossContingenciesPayments1	2000000	usd
	us-gaap	Accrual For Environmental Loss Contingencies Payments1 AccrualForEnvironmentalLossContingenciesPayments1	2000000	usd
CY2023Q1	us-gaap	Litigation Settlement Amount Awarded To Other Party LitigationSettlementAmountAwardedToOtherParty	74000000	usd
CY2023Q2	us-gaap	Loss Contingency Accrual Carrying Value Period Increase Decrease LossContingencyAccrualCarryingValuePeriodIncreaseDecrease	-25000000	usd
CY2023Q2	us-gaap	Guarantee Obligations Current Carrying Value GuaranteeObligationsCurrentCarryingValue	5000000	usd
CY2023Q2	us-gaap	Guarantees Fair Value Disclosure GuaranteesFairValueDisclosure	6000000	usd
CY2022Q4	us-gaap	Guarantees Fair Value Disclosure GuaranteesFairValueDisclosure	6000000	usd
CY2022Q4	hwm	Insurance Annual Coverage Limit InsuranceAnnualCoverageLimit	80000000	usd
CY2023Q2	hwm	Amount Committed Under Outstanding Surety Bonds AmountCommittedUnderOutstandingSuretyBonds	43000000	usd
CY2023Q2	hwm	Separation And Distribution Agreement Surety Bonds Amount Outstanding SeparationAndDistributionAgreementSuretyBondsAmountOutstanding	22000000	usd
CY2023Q2	hwm	Amount Committed Under Outstanding Surety Bonds AmountCommittedUnderOutstandingSuretyBonds	43000000	usd

Files In Submission

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0000004281-23-000016-index.html	Edgar Link	pending
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$HWM
Howmet Aerospace Inc. Stock $hwm

2023 Q3 Form 10-Q Financial Statement

#000000428123000016 Filed on August 01, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$HWM Howmet Aerospace Inc. Stock $hwm

2023 Q3 Form 10-Q Financial Statement

#000000428123000016 Filed on August 01, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$HWM
Howmet Aerospace Inc. Stock $hwm