On August 6, Howmet Aerospace Inc. rose 5.69% in regular trading, trading at $301.12/share, with turnover of $148 million. The move was driven by the company releasing Q2 results that significantly exceeded expectations while materially raising full-year guidance.

For Q2, the company reported adjusted EPS of $1.33, up 46% year-over-year, beating the consensus estimate of $1.24-$1.25. Revenue came in at $2.55 billion, up 24% year-over-year, surpassing the $2.43 billion estimate. Strong aircraft and spare-parts demand, industrial gas turbine market growth, and improvements in pricing and yield were cited as core drivers.

The company raised its full-year guidance substantially, now expecting adjusted EPS of $5.23 to $5.31 versus prior guidance of $4.88 to $5.00, and revenue of $10.0 billion to $10.1 billion versus the prior range of $9.58 billion to $9.73 billion. Both figures meaningfully exceed analyst consensus of $5.06 EPS and $9.75 billion revenue. Q3 guidance of $1.34-$1.36 EPS also topped the $1.26 estimate. Multiple institutions maintain overweight ratings with targets ranging from $311 to $340.

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