Updated version 2 - Fueled by strong demand for aircraft components, Howmet raises its annual performance forecast

Updated the stock price movement in paragraph 2, added CEO comments in paragraphs 4-6, and included analyst forecasts in paragraphs 9-10.

Reuters, October 29 - Howmet Aerospace (HWM.N) raised its 2026 profit and revenue forecasts on Thursday, after strong demand for aircraft engine parts and industrial gas turbine components drove third-quarter results above Wall Street expectations.

The U.S. aerospace castings and fastenings supplier's shares rose 8% in pre-market trading.

With commercial aircraft manufacturers and defense contractors ramping up production, Howmet is benefiting from strong demand for engine components; meanwhile, the boom in artificial intelligence at data centers is driving demand for gas turbine blades and vanes.

“The commercial aerospace market remains robust, supported by a large aircraft order backlog that will underpin expected output growth through 2027 and beyond,” said CEO John Plant.

Plant noted that given a significant backlog in engine repair and maintenance needs, Howmet expects that the Middle East conflict will not have a material impact on engine spare parts demand.

He also emphasized that, driven by higher output and increased market share, gas turbine revenue grew by 45%, with customer demand exceeding previous expectations.

The Pittsburgh, Pennsylvania-based company now expects adjusted earnings per share to be in the range of $5.49 to $5.51, up from its previous forecast of $5.23 to $5.31 per share.

The company expects full-year revenue between $10.29 billion and $10.31 billion, compared with the previous range of $10 billion to $10.1 billion.

According to data compiled by London Stock Exchange Group (LSEG), third-quarter adjusted earnings per share rose 54% year-on-year to $1.46, beating analysts' expectations of $1.37.

Revenue increased 29% to $2.7 billion, compared with market expectations of $2.59 billion.

(To assist non-English speakers, Reuters has automated the translation of its reports into several other languages. As automated translations may be inaccurate or lack the required context, Reuters does not guarantee the accuracy of automated translation texts and provides them solely for readers’ convenience. Reuters accepts no responsibility for any damage or loss caused by the use of automated translation functions.)