Howmet Aerospace (NYSE:HWM) reported fourth-quarter record revenue of $2.168 billion on Thursday, a 15% increase year over year. Net income was $372 million, or 92 cents per share, compared to $314 million, or 77 cents per share, in the prior year.
The stock traded higher following the results. Adjusted EPS, excluding special items, was $1.05, exceeding the 97 cents estimate. Sales also surpassed the $2.125 billion estimate.
Operating income margin was 22.6%. Adjusted EBITDA, excluding special items, increased 29% to $653 million, with a record margin of 30.1% (up 330 basis points year over year).
Segment Performance
Engine Products revenue rose 20% year over year to $1.163 billion. Segment adjusted EBITDA was $396 million, with a margin of 34.0%.
Fastening Systems revenue increased 13% to $454 million. Segment adjusted EBITDA was $139 million, with a margin of 30.6%.
Engineered Structures revenue grew 4% to $287 million. Segment adjusted EBITDA was $63 million, with a margin of 22.0%.
Forged Wheels revenue increased 9% to $264 million. Segment adjusted EBITDA was $79 million, with a margin of 29.9%.
Special Items And Cash
The quarter included approximately $54 million in net charges from special items, primarily related to a non-cash settlement charge to annuitize the remainder of the company’s U.K. pension plan.
On December 1, 2025, Howmet reduced its gross …