Howmet: Q2 Earnings Snapshot

PITTSBURGH (AP) — PITTSBURGH (AP) — Howmet Aerospace Inc. (HWM) on Tuesday reported second-quarter profit of $266 million.

The Pittsburgh-based company said it had net income of 65 cents per share. Earnings, adjusted for one-time gains and costs, came to 67 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.

The maker of engineered products for the aerospace and other industries posted revenue of $1.88 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $1.84 billion.

For the current quarter ending in September, Howmet expects its per-share earnings to range from 63 cents to 65 cents.

The company said it expects revenue in the range of $1.85 billion to $1.87 billion for the fiscal third quarter.

Howmet expects full-year earnings in the range of $2.53 to $2.57 per share, with revenue ranging from $7.4 billion to $7.48 billion.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HWM at https://www.zacks.com/ap/HWM