$HWM
Howmet Aerospace Inc.

2024 Q3 Form 10-Q Financial Statement

#000000428124000026 Filed on July 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $1.835B $1.880B
YoY Change 10.68% 14.08%
Cost Of Revenue $1.253B $1.287B
YoY Change 5.92% 7.61%
Gross Profit $582.0M $593.0M
YoY Change 22.53% 31.19%
Gross Profit Margin 31.72% 31.54%
Selling, General & Admin $85.00M $97.00M
YoY Change -2.3% 10.23%
% of Gross Profit 14.6% 16.36%
Research & Development $9.000M $7.000M
YoY Change 0.0% -22.22%
% of Gross Profit 1.55% 1.18%
Depreciation & Amortization $68.00M $69.00M
YoY Change 0.0% 2.99%
% of Gross Profit 11.68% 11.64%
Operating Expenses $94.00M $104.0M
YoY Change -2.08% -36.59%
Operating Profit $421.0M $398.0M
YoY Change 37.13% 38.19%
Interest Expense -$44.00M -$53.00M
YoY Change -181.48% -7.02%
% of Operating Profit -10.45% -13.32%
Other Income/Expense, Net -$17.00M -$15.00M
YoY Change 54.55% -200.0%
Pretax Income $354.0M $334.0M
YoY Change 46.28% 37.45%
Income Tax $22.00M $68.00M
% Of Pretax Income 6.21% 20.36%
Net Earnings $332.0M $266.0M
YoY Change 76.6% 37.82%
Net Earnings / Revenue 18.09% 14.15%
Basic Earnings Per Share $0.81 $0.65
Diluted Earnings Per Share $0.81 $0.65
COMMON SHARES
Basic Shares Outstanding 408.1M shares 408.2M shares
Diluted Shares Outstanding 410.0M shares 411.0M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $475.0M $752.0M
YoY Change 12.03% 40.56%
Cash & Equivalents $475.0M $752.0M
Short-Term Investments
Other Short-Term Assets $239.0M $235.0M
YoY Change 12.74% 13.53%
Inventory $1.902B $1.848B
Prepaid Expenses
Receivables $757.0M $749.0M
Other Receivables $18.00M $19.00M
Total Short-Term Assets $3.391B $3.603B
YoY Change 9.0% 15.19%
LONG-TERM ASSETS
Property, Plant & Equipment $2.358B $2.307B
YoY Change 2.7% -4.91%
Goodwill $4.047B $4.016B
YoY Change 1.0% -0.25%
Intangibles $484.0M $489.0M
YoY Change -4.54% -4.68%
Long-Term Investments
YoY Change
Other Assets $239.0M $232.0M
YoY Change 19.5% 65.71%
Total Long-Term Assets $7.167B $7.076B
YoY Change 1.59% -0.41%
TOTAL ASSETS
Total Short-Term Assets $3.391B $3.603B
Total Long-Term Assets $7.167B $7.076B
Total Assets $10.56B $10.68B
YoY Change 3.86% 4.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $917.0M $971.0M
YoY Change 2.57% 10.22%
Accrued Expenses $351.0M $336.0M
YoY Change 6.36% 6.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.000M $782.0M
YoY Change
Total Short-Term Liabilities $1.517B $2.358B
YoY Change 4.33% 67.23%
LONG-TERM LIABILITIES
Long-Term Debt $3.393B $2.877B
YoY Change -10.57% -27.88%
Other Long-Term Liabilities $1.145B $1.167B
YoY Change 9.46% 10.2%
Total Long-Term Liabilities $3.393B $2.877B
YoY Change -29.9% -43.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.517B $2.358B
Total Long-Term Liabilities $3.393B $2.877B
Total Liabilities $6.055B $6.402B
YoY Change -3.8% -0.87%
SHAREHOLDERS EQUITY
Retained Earnings $2.453B $2.186B
YoY Change 65.19% 63.87%
Common Stock $407.0M $408.0M
YoY Change -1.21% -0.97%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.503B $4.277B
YoY Change
Total Liabilities & Shareholders Equity $10.56B $10.68B
YoY Change 3.86% 4.36%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $332.0M $266.0M
YoY Change 76.6% 37.82%
Depreciation, Depletion And Amortization $68.00M $69.00M
YoY Change 0.0% 2.99%
Cash From Operating Activities $244.0M $397.0M
YoY Change 27.75% 73.36%
INVESTING ACTIVITIES
Capital Expenditures $82.00M $55.00M
YoY Change 38.98% 34.15%
Acquisitions
YoY Change
Other Investing Activities $2.000M $1.000M
YoY Change 100.0%
Cash From Investing Activities -$80.00M -$54.00M
YoY Change 37.93% 31.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -441.0M -123.0M
YoY Change 81.48% -34.92%
NET CHANGE
Cash From Operating Activities 244.0M 397.0M
Cash From Investing Activities -80.00M -54.00M
Cash From Financing Activities -441.0M -123.0M
Net Change In Cash -277.0M 220.0M
YoY Change 151.82% -22100.0%
FREE CASH FLOW
Cash From Operating Activities $244.0M $397.0M
Capital Expenditures $82.00M $55.00M
Free Cash Flow $162.0M $342.0M
YoY Change 22.73% 81.91%

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