Filing Flows › Howmet Aerospace (HWM) › Q2 2026 › vs Q1 2026
Howmet Aerospace (HWM) Q2 2026 vs Q1 2026 (quarter over quarter)
Howmet Aerospace's revenue rose $234M (+10%) from $2.3B in Q1 2026 to $2.5B in Q2 2026. The biggest changes: Aerospace - Commercial +$144M (+12%); Gas Turbines +$37.0M (+13%); Commercial Transportation +$26.0M (+8%). Operating margin 27.9% against 32.6% (-4.6 pts).
Howmet Aerospace, Q2 2026: revenue $2.5B (+24% year over year), operating margin 27.9%, net earnings $534M, operating cash flow $583M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 27.9% | 32.6% | -4.6 pts |
| Net margin | 21.0% | 25.1% | -4.1 pts |
| Free cash flow margin | 18.8% | 15.5% | +3.3 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Aerospace - Commercial | $1.4B | $1.2B | $144M | +12% |
| Aerospace - Defense | $389M | $366M | $23.0M | +6% |
| Commercial Transportation | $372M | $346M | $26.0M | +8% |
| Gas Turbines | $321M | $284M | $37.0M | +13% |
| Other | $106M | $102M | $4.0M | +4% |
| Revenue | $2.5B | $2.3B | $234M | +10% |
| Operating profit | $711M | $753M | −$42.0M | -6% |
| Costs & expenses | $1.8B | $1.6B | $276M | +18% |
| Pre-tax earnings | $649M | $708M | −$59.0M | -8% |
| Other expense, net | $62.0M | $45.0M | $17.0M | +38% |
| Net earnings | $534M | $580M | −$46.0M | -8% |
| Income tax | $115M | $128M | −$13.0M | -10% |
| Depreciation & amortization | $84.0M | $74.0M | $10.0M | +14% |
| Working capital & other | $35.0M | $201M | −$166M | -83% |
| Operating cash flow | $583M | $453M | $130M | +29% |
| Free cash flow (OCF − capex) | $479M | $359M | $120M | +33% |
| Capital expenditures | $104M | $94.0M | $10.0M | +11% |
Questions
How much did Howmet Aerospace's revenue grow quarter over quarter in Q2 2026?
Howmet Aerospace's revenue rose $234M (+10%) from $2.3B in Q1 2026 to $2.5B in Q2 2026.
What drove Howmet Aerospace's revenue change in Q2 2026?
Aerospace - Commercial +$144M (+12%); Gas Turbines +$37.0M (+13%); Commercial Transportation +$26.0M (+8%).