Howmet Aerospace Inc (HWM) financial statements: income statement, balance sheet and cash flow

Howmet Aerospace Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Howmet Aerospace Inc reported revenue of $8.3B (+11.1% year on year) and net income of $1.5B (+30.6% year on year).

Income statement

Howmet Aerospace Inc income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Sales (C)	$8.3B	$7.4B	$6.6B	$5.7B
Cost of goods sold (exclusive of expenses below)	$5.4B	$5.1B	$4.8B	$4.1B
Selling, general administrative, and other expenses	$370.0M	$347.0M	$333.0M	$288.0M
Research and development expenses	$37.0M	$33.0M	$36.0M	$32.0M
Provision for depreciation and amortization	$283.0M	$277.0M	$272.0M	$265.0M
Restructuring and other charges (D)	$84.0M	$21.0M	$23.0M	—
Operating income	$2.0B	$1.6B	$1.2B	$919.0M
Loss on debt redemption (Q)	$15.0M	$6.0M	$2.0M	$2.0M
Interest expense, net (E)	$151.0M	$182.0M	$218.0M	—
Other expense, net (F)	$40.0M	$62.0M	$8.0M	$82.0M
Income before income taxes	$1.8B	$1.4B	$975.0M	$606.0M
Provision for income taxes (H)	$332.0M	$228.0M	$210.0M	$137.0M
Net income	$1.5B	$1.2B	$765.0M	$469.0M
Net income	$1.5B	$1.2B	$763.0M	$467.0M
Basic (in usd per share)	$3.73	$2.83	$1.85	—
Diluted (in usd per share)	$3.71	$2.81	$1.83	—
Basic (in shares)	404.0M	408.0M	412.0M	416.0M
Diluted (in shares)	406.0M	410.0M	416.0M	421.0M

Howmet Aerospace Inc income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Sales (D)	$2.5B	$2.3B	$2.1B	$2.1B
Cost of goods sold (exclusive of expenses below)	$1.6B	$1.5B	$1.4B	$1.4B
Selling, general administrative, and other expenses	$148.0M	$111.0M	$100.0M	$89.0M
Research and development expenses	$8.0M	$9.0M	$10.0M	$9.0M
Provision for depreciation and amortization	$84.0M	$74.0M	$72.0M	$69.0M
Restructuring and other credits (E)	$0	($93.0M)	$0	$0
Operating income	$711.0M	$753.0M	$542.0M	$521.0M
Interest expense, net	$51.0M	$43.0M	$37.0M	$38.0M
Other expense, net (G)	$11.0M	$2.0M	$10.0M	$14.0M
Income before income taxes	$649.0M	$708.0M	$495.0M	$469.0M
Provision for income taxes (H)	$115.0M	$128.0M	$110.0M	$62.0M
Net income	$534.0M	$580.0M	$385.0M	$407.0M
Net income, Basic	$534.0M	$580.0M	$384.0M	$407.0M
Net income, Diluted	$534.0M	$580.0M	$384.0M	$407.0M
Basic (in usd per share)	$1.33	$1.45	$0.96	$1.01
Diluted (in usd per share)	$1.33	$1.44	$0.95	$1.00
Basic (in shares)	400.0M	401.0M	403.0M	404.0M
Diluted (in shares)	402.0M	403.0M	405.0M	406.0M

Balance sheet

Howmet Aerospace Inc balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$742.0M	$564.0M	$610.0M	$791.0M
Receivables from customers, less allowances of $— in both 2025 and 2024 (L)	$779.0M	$689.0M	$675.0M	$506.0M
Other receivables (L)	$17.0M	$20.0M	$17.0M	$31.0M
Inventories (M)	$1.8B	$1.8B	$1.8B	$1.6B
Prepaid expenses and other current assets	$392.0M	$249.0M	$249.0M	$206.0M
Total current assets	$3.8B	$3.4B	$3.3B	$3.1B
Properties, plants, and equipment, net (N)	$2.6B	$2.4B	$2.3B	$2.3B
Goodwill (O)	$4.0B	$4.0B	$4.0B	$4.0B
Deferred income taxes (H)	$40.0M	$35.0M	$46.0M	$54.0M
Intangibles, net (O)	$457.0M	$475.0M	$505.0M	$521.0M
Other noncurrent assets (P)	$288.0M	$251.0M	$198.0M	$192.0M
Total assets	$11.2B	$10.5B	$10.4B	$10.3B
Accounts payable, trade	$845.0M	$948.0M	$982.0M	$962.0M
Accrued compensation and retirement costs	$343.0M	$305.0M	$263.0M	$195.0M
Taxes, including income taxes	$77.0M	$60.0M	$68.0M	$48.0M
Accrued interest payable	$47.0M	$59.0M	$65.0M	$75.0M
Deferred revenue	$147.0M	—	—	—
Other current liabilities (P)	$121.0M	$171.0M	$200.0M	$202.0M
Long-term debt due within one year (Q and R)	$191.0M	$6.0M	$206.0M	—
Total current liabilities	$1.8B	$1.5B	$1.8B	$1.5B
Long-term debt, less amount due within one year (Q and R)	$2.9B	$3.3B	$3.5B	—
Accrued pension benefits (G)	$546.0M	$625.0M	$664.0M	$633.0M
Accrued other postretirement benefits (G)	$38.0M	$54.0M	$92.0M	$109.0M
Other noncurrent liabilities and deferred credits (P)	$612.0M	$428.0M	$351.0M	$268.0M
Total liabilities	$5.8B	$6.0B	$6.4B	$6.7B
Preferred stock (I)	$0	$55.0M	$55.0M	$55.0M
Common stock (I)	$402.0M	$405.0M	$410.0M	$412.0M
Additional capital (I)	$2.5B	$3.2B	$3.7B	$3.9B
Retained earnings	$4.1B	$2.8B	$1.7B	$1.0B
Accumulated other comprehensive loss (K)	($1.7B)	($1.9B)	($1.8B)	($1.8B)
Total equity	$5.4B	$4.6B	$4.0B	$3.6B
Total liabilities and equity	$11.2B	$10.5B	$10.4B	$10.3B

Howmet Aerospace Inc balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents	$563.0M	$2.4B	$659.0M	$545.0M
Receivables from customers, less allowances of $— in both 2026 and 2025 (K)	$1.0B	$940.0M	$884.0M	$888.0M
Inventories (L)	$2.2B	$2.0B	$2.0B	$2.0B
Prepaid expenses and other current assets	$407.0M	$307.0M	$289.0M	$283.0M
Total current assets	$4.2B	$5.7B	$3.8B	$3.7B
Properties, plants, and equipment, net (M)	$2.8B	$2.6B	$2.6B	$2.5B
Goodwill	$5.1B	$4.1B	$4.1B	$4.1B
Deferred income taxes	$48.0M	$35.0M	$31.0M	$31.0M
Intangibles, net	$869.0M	$451.0M	$462.0M	$467.0M
Other noncurrent assets (N)	$240.0M	$232.0M	$251.0M	$263.0M
Total assets	$13.3B	$13.1B	$11.2B	$11.0B
Accounts payable, trade (Q)	$1.1B	$1.1B	$957.0M	$1.0B
Accrued compensation and retirement costs	$304.0M	$263.0M	$314.0M	$263.0M
Taxes, including income taxes (H)	$87.0M	$81.0M	$71.0M	$64.0M
Accrued interest payable	$62.0M	$39.0M	$32.0M	$59.0M
Deferred revenue	$119.0M	$129.0M	—	—
Other current liabilities (N)(Q)	$134.0M	$109.0M	$250.0M	$181.0M
Long-term debt due within one year (O)	$1.0M	$186.0M	$1.0M	$5.0M
Short-term borrowings (O)	$450.0M	$450.0M	—	—
Total current liabilities	$2.3B	$2.3B	$1.6B	$1.6B
Long-term debt, less amount due within one year (O)(P)	$4.0B	$4.0B	$3.2B	$3.3B
Accrued pension benefits (F)	$511.0M	$533.0M	$597.0M	$613.0M
Accrued other postretirement benefits (F)	$34.0M	$36.0M	$50.0M	$52.0M
Other noncurrent liabilities and deferred credits (N)	$618.0M	$611.0M	$574.0M	$486.0M
Total liabilities	$7.5B	$7.5B	$6.0B	$6.0B
Common stock	$400.0M	$401.0M	$403.0M	$404.0M
Additional capital	$1.9B	$2.2B	$2.7B	$2.9B
Retained earnings	$5.1B	$4.6B	$3.7B	$3.4B
Accumulated other comprehensive loss (J)	($1.7B)	($1.7B)	($1.8B)	($1.7B)
Total equity	$5.7B	$5.5B	$5.1B	$5.0B
Total liabilities and equity	$13.3B	$13.1B	$11.2B	$11.0B

Cash flow statement

Howmet Aerospace Inc cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$1.5B	$1.2B	$765.0M	$469.0M
Depreciation and amortization	$283.0M	$277.0M	$272.0M	$265.0M
Deferred income taxes	$17.0M	$55.0M	$108.0M	$79.0M
Restructuring and other charges	$84.0M	$21.0M	$23.0M	$56.0M
Net realized and unrealized losses	$22.0M	$25.0M	$22.0M	$18.0M
Net periodic pension cost (G)	$42.0M	$40.0M	$37.0M	$24.0M
Stock-based compensation	$73.0M	$63.0M	$50.0M	$54.0M
Loss on debt redemption (Q)	$15.0M	$6.0M	$2.0M	$2.0M
Other	$8.0M	$1.0M	$3.0M	$12.0M
Increase in receivables (L)	($109.0M)	($57.0M)	($164.0M)	($161.0M)
Increase in inventories	($50.0M)	($106.0M)	($142.0M)	($234.0M)
Increase in prepaid expenses and other current assets	($10.0M)	($14.0M)	($24.0M)	($6.0M)
Decrease in accounts payable, trade	($73.0M)	($49.0M)	($7.0M)	$246.0M
Increase in accrued expenses	$96.0M	$5.0M	$37.0M	$23.0M
Decrease in taxes, including income taxes	($6.0M)	($14.0M)	($7.0M)	($12.0M)
Pension contributions	($70.0M)	($79.0M)	($36.0M)	($43.0M)
Increase in noncurrent assets	($14.0M)	($3.0M)	($4.0M)	$1.0M
Increase (decrease) in noncurrent liabilities	$68.0M	($28.0M)	($34.0M)	($60.0M)
Cash provided from operations	$1.9B	$1.3B	$901.0M	$733.0M
Additions to debt (Q)	$500.0M	$500.0M	$400.0M	$0
Repurchases and payments on debt (Q)	($765.0M)	($865.0M)	($876.0M)	($69.0M)
Debt issuance costs (Q)	($5.0M)	($5.0M)	($2.0M)	$0
Premiums paid on early redemption of debt (Q)	($15.0M)	($5.0M)	($1.0M)	($2.0M)
Repurchases of common stock (I)	($700.0M)	($500.0M)	($250.0M)	($400.0M)
Proceeds from exercise of employee stock options	$1.0M	$8.0M	$11.0M	$16.0M
Dividends paid to shareholders (I)	($181.0M)	($109.0M)	($73.0M)	($44.0M)
Taxes paid for net share settlement of equity awards	($46.0M)	($49.0M)	($77.0M)	—
Redemption of preferred stock	($55.0M)	—	—	—
Other	($3.0M)	($1.0M)	—	($22.0M)
Cash used for financing activities	($1.3B)	($1.0B)	($868.0M)	($526.0M)
Capital expenditures (C and S)	($453.0M)	($321.0M)	($219.0M)	($193.0M)
Acquisitions, net of cash acquired	$0	($5.0M)	—	—
Proceeds from the sale of assets and businesses (D)	$9.0M	$9.0M	$2.0M	$58.0M
Additions to investments	($9.0M)	—	—	—
Sale of investments	$15.0M	—	—	—
Other	$0	$1.0M	$0	$0
Cash used for investing activities	($438.0M)	($316.0M)	($215.0M)	($135.0M)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	$1.0M	($1.0M)	$0	($2.0M)
Net change in cash, cash equivalents and restricted cash	$178.0M	($45.0M)	($182.0M)	$70.0M
Cash, cash equivalents and restricted cash at beginning of year	$565.0M	$610.0M	$792.0M	$722.0M
Cash, cash equivalents and restricted cash at end of year	$743.0M	$565.0M	$610.0M	$792.0M

Howmet Aerospace Inc cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income	$1.1B	$580.0M	$1.1B	$751.0M
Depreciation and amortization	$158.0M	$74.0M	$210.0M	$138.0M
Deferred income taxes	$9.0M	$15.0M	$75.0M	$12.0M
Restructuring and other credits	($93.0M)	($93.0M)	($4.0M)	($4.0M)
Net realized and unrealized losses	$8.0M	$4.0M	$17.0M	$11.0M
Net periodic pension cost (F)	$23.0M	$11.0M	$31.0M	$21.0M
Stock-based compensation	$57.0M	$21.0M	$59.0M	$39.0M
Other	$5.0M	$3.0M	$3.0M	$2.0M
Increase in receivables (K)	($196.0M)	($164.0M)	($180.0M)	($170.0M)
Increase in inventories (L)	($165.0M)	($110.0M)	($95.0M)	($81.0M)
(Increase) decrease in prepaid expenses and other current assets	($53.0M)	($12.0M)	($11.0M)	$6.0M
Increase in accounts payable, trade	$279.0M	$220.0M	$17.0M	$74.0M
Decrease in accrued expenses	($59.0M)	($100.0M)	($2.0M)	($47.0M)
Decrease in taxes, including income taxes	($27.0M)	$26.0M	($3.0M)	($20.0M)
Pension contributions	($21.0M)	—	($30.0M)	($15.0M)
Increase in noncurrent assets	($7.0M)	($5.0M)	($6.0M)	($2.0M)
Increase (decrease) in noncurrent liabilities	$4.0M	($17.0M)	$13.0M	($16.0M)
Cash provided from operations	$1.0B	$453.0M	$1.2B	$699.0M
Net change in commercial paper (O)	$450.0M	$450.0M	—	—
Additions to debt (O)	$1.2B	$1.2B	$0	—
Repurchases and payments on debt (O)	($186.0M)	$0	($140.0M)	($77.0M)
Debt issuance costs (O)	($12.0M)	($12.0M)	$0	—
Repurchases of common stock	($600.0M)	($300.0M)	($500.0M)	($300.0M)
Dividends paid to shareholders	($97.0M)	($48.0M)	($131.0M)	($83.0M)
Taxes paid for net share settlement of equity awards	($65.0M)	($64.0M)	($45.0M)	($44.0M)
Other	($5.0M)	$0	($5.0M)	($3.0M)
Cash provided from (used for) financing activities	$685.0M	$1.2B	($820.0M)	($506.0M)
Capital expenditures (D)	($198.0M)	($94.0M)	($329.0M)	($221.0M)
Acquisitions, net of cash acquired (C)	($1.9B)	($118.0M)	—	—
Proceeds from the sale of assets and businesses (C)	$225.0M	$225.0M	$9.0M	$8.0M
Other	$2.0M	($1.0M)	$0	$1.0M
Cash used for investing activities	($1.9B)	$14.0M	($316.0M)	($212.0M)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	$0	$0	$1.0M	$0
Net change in cash, cash equivalents and restricted cash	($179.0M)	$1.7B	$95.0M	($19.0M)
Cash, cash equivalents and restricted cash at beginning of period	$743.0M	$743.0M	$565.0M	$565.0M
Cash, cash equivalents and restricted cash at end of period	$564.0M	$2.4B	$660.0M	$546.0M

Howmet Aerospace Inc score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.