In its upcoming report, Howmet (HWM) is predicted by Wall Street analysts to post quarterly earnings of $0.91 per share, reflecting an increase of 28.2% compared to the same period last year. Revenues are forecasted to be $2.05 billion, representing a year-over-year increase of 11.5%.
Over the last 30 days, there has been an upward revision of 1.3% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Given this perspective, it's time to examine the average forecasts of specific Howmet metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts expect 'Total Sales- Engine Products' to come in at $1.07 billion. The estimate points to a change of +13.2% from the year-ago quarter.
Analysts forecast 'Total Sales- Forged Wheels' to reach $234.05 million. The estimate indicates a year-over-year change of -4.5%.
The consensus estimate for 'Total Sales- Engineered Structures' stands at $298.28 million. The estimate points to a change of +16.5% from the year-ago quarter.
The average prediction of analysts places 'Total Sales- Fastening Systems' at $438.10 million. The estimate points to a change of +11.8% from the year-ago quarter.
According to the collective judgment of analysts, 'Adjusted EBITDA- Engine Products' should come in at $355.25 million. Compared to the current estimate, the company reported $307.00 million in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Adjusted EBITDA- Forged Wheels' should arrive at $63.23 million. Compared to the current estimate, the company reported $64.00 million in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Adjusted EBITDA- Engineered Structures' of $64.24 million. Compared to the present estimate, the company reported $38.00 million in the same quarter last year.
The combined assessment of analysts suggests that 'Adjusted EBITDA- Fastening Systems' will likely reach $129.81 million. The estimate is in contrast to the year-ago figure of $102.00 million.
View all Key Company Metrics for Howmet here>>>
Howmet shares have witnessed a change of +5.2% in the past month, in contrast to the Zacks S&P 500 composite's +3.6% move. With a Zacks Rank #3 (Hold), HWM is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Howmet Aerospace Inc. (HWM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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