Howmet Aerospace sees FY24 adjusted EPS $2.10-$2.20, consensus $2.17

Sees FY24 revenue $7B-$7.2B, consensus $7.06B. Sees FY24 adjusted EBITDA $1.6B-$1.67B. Sees FY24 free cash flow $700M-$770M. Plant continued, “The outlook for commercial aerospace continues to be strong, supported by record backlogs at the aircraft OEMs, as well as accelerating spares demand due to the increased service requirements of the newer, more fuel-efficient aircraft engines. We expect above-trend growth to continue in full year 2024, albeit with a cautious view until we see sustained achievement of build rate increases at aircraft OEMs. We expect healthy growth in 2024 in our defense aerospace and industrial end markets. In commercial transportation, softening leading indicators warrant a cautious view, though we expect a downcycle to be confined to 2024. Our 2024 outlook envisions total revenue growth of approximately 7%.”