Analysts on Wall Street project that Howmet (HWM) will announce quarterly earnings of $0.77 per share in its forthcoming report, representing an increase of 35.1% year over year. Revenues are projected to reach $1.93 billion, increasing 6% from the same quarter last year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.5% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
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.
The average prediction of analysts places 'Total Sales- Engine Products' at $991.56 million. The estimate indicates a change of +11.8% from the prior-year quarter.
Analysts expect 'Total Sales- Forged Wheels' to come in at $248.22 million. The estimate suggests a change of -13.8% year over year.
Analysts predict that the 'Total Sales- Engineered Structures' will reach $276.53 million. The estimate indicates a year-over-year change of +5.1%.
Based on the collective assessment of analysts, 'Total Sales- Fastening Systems' should arrive at $413.81 million. The estimate indicates a change of +6.4% from the prior-year quarter.
It is projected by analysts that the 'Adjusted EBITDA- Engine Products' will reach $313.17 million. Compared to the present estimate, the company reported $249 million in the same quarter last year.
The collective assessment of analysts points to an estimated 'Adjusted EBITDA- Forged Wheels' of $64.67 million. The estimate is in contrast to the year-ago figure of $82 million.
According to the collective judgment of analysts, 'Adjusted EBITDA- Engineered Structures' should come in at $49.75 million. The estimate is in contrast to the year-ago figure of $37 million.
The combined assessment of analysts suggests that 'Adjusted EBITDA- Fastening Systems' will likely reach $113.05 million. The estimate compares to the year-ago value of $92 million.
View all Key Company Metrics for Howmet here>>>
Shares of Howmet have demonstrated returns of +4.7% over the past month compared to the Zacks S&P 500 composite's -4.3% change. With a Zacks Rank #3 (Hold), HWM is expected to mirror the overall market performance in the near future. 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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