Howmet Aerospace reported stronger margins in the second quarter of 2026, with adjusted EBITDA margin rising 340 basis points year over year to 32.1% and adjusted operating margin up 350 basis points to 28.8%. Adjusted operating income increased 41% to $733 million, while cost of goods sold rose 16.9% to $1.60 billion and SG&A expenses jumped 66.3% to $148 million. The Engine Products, Fastening Systems and Engineered Structures segments posted margin gains of 470, 90 and 170 basis points respectively, and Forged Wheels added 30 basis points. For full-year 2026, Howmet expects adjusted EBITDA margin of 30.1% to 30.5%, supported by pricing and productivity improvements. The stock has surged 58.6% over the past year and trades at a forward P/E of 46.38X, above the industry average of 32.26X.
Howmet Aerospace IncQ2 margins expanded and full-year guidance raised on aerospace demand.
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