PITTSBURGH (AP) — PITTSBURGH (AP) — Howmet Aerospace Inc. (HWM) on Tuesday reported first-quarter earnings of $148 million.
On a per-share basis, the Pittsburgh-based company said it had profit of 35 cents. Earnings, adjusted for non-recurring costs and restructuring costs, were 42 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share.
The maker of engineered products for the aerospace and other industries posted revenue of $1.6 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $1.49 billion.
For the current quarter ending in June, Howmet expects its per-share earnings to range from 41 cents to 42 cents.
The company said it expects revenue in the range of $1.6 billion to $1.61 billion for the fiscal second quarter.
Howmet expects full-year earnings in the range of $1.65 to $1.67 per share, with revenue ranging from $6.2 billion to $6.25 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HWM at https://www.zacks.com/ap/HWM
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