Howmet Aerospace revenue tops $1.5bn in early 2023

Howmet Aerospace recorded first quarter 2023 (Q1 2023) revenue of $1.6bn, up 21% on Q1 2022. The increase was driven by commercial aerospace, revenue for which climbed 29%, helping the company to a net income of $148 million, or $0.35 per share, a 13% increase. Net income excluding special items came to $175 million, or $0.42 per share, meaning adjusted earnings per share grew 35% year on year. Earnings, given as adjusted EBITDA excluding special items, came to $360 million, up 20%. The company said it generated $23 million cash from operations, with $214 million of cash used for financing