Howmet Aerospace reported record second quarter 2024 revenue of $1.88 billion, up 14% year over year, driven by growth in the commercial aerospace market of 27%. Q2 net income rose 38% to $266 million, with operating income growing 40% to $398 million. Operating income margin was 21.2%, up approximately 390 basis points year over year.

Fastening Systems revenue increased 20% to $394 million on growth in the commercial aerospace market, including wide body aircraft recovery. Segment Adjusted EBITDA jumped 58% to $101 million, driven by growth in the commercial aerospace market as well as labor productivity gains. Segment Adjusted EBITDA margin increased approximately 610 basis points year over year to 25.6%.

“The outlook for commercial aerospace continues to be robust, with strong travel demand and an aging aircraft fleet, leading to an extremely high backlog at the aircraft OEMs,” stated CEO John Plant. “The issue faced by Howmet Aerospace continues to be the aircraft manufacturers’ ability to build and deliver aircraft on a consistent basis.” Web: howmet.com