Staff report
Howmet Aerospace Inc., which has a mill in Weathersfield, reported Thursday first-quarter revenue of $1.94 billion, up 6% year over year.
The Pittsburgh-based company said the result was primarily driven by growth in the commercial aerospace market of 9%.
The company also announced an operating income margin of 25.4% for the quarter.
Howmet Aerospace reported it had:
• Generated net income of $344 million versus $243 million in the first quarter 2024.
• Announced earnings per share of $0.84 versus $0.59 in the first quarter 2024.
• Repurchased $125 million of common stock at an average price of $124.24 per share.
• Noted a $0.10 per share common stock dividend, up 100% year over year.
• Received notice Fitch Ratings upgraded March 31 its long-term issuer default rating from BBB to BBB+.
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