Howmet Aerospace (HWM) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Howmet Aerospace published the results on October 29, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Howmet Aerospace reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Adjusted EPS, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Howmet bought Brunner Manufacturing in February 2026 and Consolidated Aerospace Manufacturing (CAM) in April 2026, and sold its Savannah, Georgia disk forging facility on March 31, 2026. Organic growth, which excludes all three, was 25% against reported growth of 29%.
• In the first quarter of 2026 Howmet moved a titanium alloy location from Engine Products to Engineered Structures and recast prior segment figures, so year-ago segment sales here are the recast amounts.

Source: Howmet Aerospace Q3 2026 results, October 29, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Howmet Aerospace splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Howmet Aerospace's Engine Products revenue was $1.5 billion in Q3 2026, up 33% from $1.1 billion in Q3 2025, 54% of total revenue.
• Howmet Aerospace's Fastening Systems revenue was $630 million in Q3 2026, up 41% from $448 million in Q3 2025, 23% of total revenue.
• Howmet Aerospace's Engineered Structures revenue was $295 million in Q3 2026, down 4% from $307 million in Q3 2025, 11% of total revenue.
• Howmet Aerospace's Forged Wheels revenue was $327 million in Q3 2026, up 32% from $247 million in Q3 2025, 12% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Howmet Aerospace said:

“Our trajectory points to a healthy fourth quarter and the conclusion of another strong year for Howmet.”

“Demand in the gas turbines market continues to strengthen with customers looking to increase volumes beyond previous expectations, which supports the outlook beyond 2028.”

“Looking forward to 2027, we envisage revenue of approximately $11.5 billion, representing approximately 12% growth from the increased 2026 guidance.”

Source: Howmet Aerospace Q3 2026 release, Oct 29, 2026.

This is the company's own guidance as of Oct 29, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the HWM forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenue and diluted EPS, each as first reported in that quarter's earnings release.

We do not hold a confirmed date for Howmet Aerospace's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 29, 2026

Howmet Aerospace had sales of $2,703 million in Q3 2026, up 29% from $2,089 million, with organic growth of 25%. Engine Products, which makes rotating and structural engine parts, was the largest segment at $1,451 million. Fastening Systems had $630 million, Forged Wheels $327 million and Engineered Structures $295 million. (Howmet Aerospace Q3 2026 release, Oct 29, 2026; Howmet Aerospace Form 10-K, 2025, Feb 12, 2026)

By end market, commercial aerospace brought in $1,459 million against $1,109 million a year earlier, defense aerospace $391 million against $357 million, commercial transportation $384 million against $301 million and gas turbines $349 million against $241 million. Howmet put the growth at 32% in commercial aerospace, 10% in defense aerospace, 45% in gas turbines and 28% in commercial transportation. (Howmet Aerospace Form 10-Q, Q3 2026, Oct 29, 2026; Howmet Aerospace Q3 2026 release, Oct 29, 2026)

The 10-Q attributes the $614 million increase to growth in all four markets, growth in engine spares, favorable product pricing, cost pass through and sales from the CAM and Brunner acquisitions, partly offset by the Savannah divestiture. It adds that product price increases are in excess of material and inflationary cost pass through to customers. (Howmet Aerospace Form 10-Q, Q3 2026, Oct 29, 2026)

Acquisitions explain most of the Fastening Systems jump. CAM and Brunner added $135 million, and excluding them the segment grew 10%. Engineered Structures fell 4% because of the Savannah sale but grew 8% without it. Forged Wheels rose 32% on higher commercial transportation volumes and more aluminum cost pass through. (Howmet Aerospace Q3 2026 release, Oct 29, 2026)

Howmet's customers are concentrated. RTX Corporation and GE Aerospace each represented approximately 11% of third-party sales in 2025, and aerospace (commercial and defense) supplied 68% of revenue in the first nine months of 2026. (Howmet Aerospace Form 10-K, 2025, Feb 12, 2026; Howmet Aerospace Form 10-Q, Q3 2026, Oct 29, 2026)

Howmet Aerospace's GAAP diluted EPS of $1.42 compares with Adjusted EPS of $1.46. The $17 million of after-tax special items that separate the two were $7 million of acquisition-related costs for CAM and Brunner, $2 million of restructuring charges and $10 million of discrete tax charges, including $5 million tied to a foreign pension plan termination, less the tax effect of the pre-tax items. (Howmet Aerospace Q3 2026 release, Oct 29, 2026)

Net income rose to $567 million from $385 million. Operating income margin was 28.7%, up 280 basis points, and the effective tax rate was 21.4%, or 20.0% on Howmet's adjusted operational basis. (Howmet Aerospace Q3 2026 release, Oct 29, 2026)

Diluted average shares fell to 400 million from 405 million. Howmet repurchased $500 million of stock in the quarter at an average price of $264.77, retiring about 1.9 million shares, and on October 28, 2026 the board added $5 billion to the buyback authorization, for a total of $5.397 billion. (Howmet Aerospace Q3 2026 release, Oct 29, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Howmet Aerospace gives low, baseline and high figures in each release. For Q4 2026 it guided revenue of $2,740 million to $2,760 million (baseline $2,750 million) and Adjusted EPS of $1.49 to $1.51. For full year 2026 the baseline is revenue of $10,300 million, Adjusted EPS of $5.50 and free cash flow of $2,000 million, with the revenue baseline raised by $250 million and Adjusted EPS by $0.23. (Howmet Aerospace Q3 2026 release, Oct 29, 2026)

The release also gave a first figure for 2027: revenue of approximately $11.5 billion, about 12% above the raised 2026 guidance. Howmet does not reconcile its forward non-GAAP figures to GAAP, citing the variability of excluded items such as restructuring and impairment charges. (Howmet Aerospace Q3 2026 release, Oct 29, 2026)

A consensus figure is the average of the models published by the analysts who cover Howmet Aerospace, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Howmet Aerospace's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning HWM is on is HWM a buy or a sell?, what analysts expect next is on the HWM forecast, and what the company does is on the Howmet Aerospace (HWM) stock page.

Every number on this page can be traced to a document Howmet Aerospace published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.