Howmet (NYSE: HWM) came out with quarterly earnings of $0.67 per share, beating the Zacks Consensus Estimate of $0.60 per share. This compares to earnings of $0.44 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 11.67%. A quarter ago, it was expected that this maker of engineered products for the aerospace and other industries would post earnings of $0.52 per share when it actually produced earnings of $0.57, delivering a surprise of 9.62%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Howmet, which belongs to the Zacks Engineering – R and D Services industry, posted revenues of $1.88 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 2.30%. This compares to year-ago revenues of $1.65 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on …