Howmet Aerospace Soars On Strong Q2, Dividend Boost And Buybacks: Details
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 30 2024
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Source: Benzinga
Financial Performance: Howmet Aerospace Inc. reported a 14% year-over-year revenue growth to $1.88 billion for Q2 FY24, exceeding expectations, with adjusted EPS of $0.67 and a significant increase in adjusted operating income and EBITDA margins.
Future Outlook and Shareholder Returns: The company raised its FY24 revenue outlook to $7.40-$7.48 billion and announced a 60% increase in its quarterly dividend to $0.08 per share, alongside a $2 billion boost to its share repurchase program.
Analyst Views on XAR
Wall Street analysts forecast XAR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for XAR is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
