Howmet Aerospace reported Fastening Systems revenue rose 11% to $401 million in the final quarter of 2024 amid continued growth in the commercial aerospace market, including wide body aircraft recovery.

Segment adjusted EBITDA climbed 39% to $111 million, driven by growth in the commercial aerospace market as well as productivity gains. Q4 margin increased approximately 550 basis points year over year to 27.7%. Capital expenditures increased 12.5% to $9 million.

Full-year 2024 Fastening Systems revenue grew 17% to $1.6 billion. Segment adjusted EBITDA improved 46% to $406 million, while margin increased approximately 520 basis points year over year to 25.8%. Capital expenditures decreased 16% to $26 million.

Consolidated Howmet Aerospace Q4 revenue grew 9.2% to $1.89 billion, driven by 13% aerospace growth.

Howmet Aerospace full year 2024 revenues rose 12%  to $7.4 billion, driven by 20% growth in the commercial aerospace market.

“The outlook for commercial aerospace remains solid with rising OEM production rates supported by strong demand as well as continued healthy growth in engine spares demand,” stated CEO John Plant. “We expect continued growth in the defense aerospace and industrial end markets, with the commercial transportation market anticipated to be soft until the second half of 2025.”