Filing Flows › Howmet Aerospace (HWM) › Q2 2026 › vs Q2 2025
Howmet Aerospace (HWM) Q2 2026 vs Q2 2025 (year over year)
Howmet Aerospace's revenue rose $494M (+24%) from $2.1B in Q2 2025 to $2.5B in Q2 2026. The biggest changes: Aerospace - Commercial +$299M (+28%); Gas Turbines +$88.0M (+38%); Commercial Transportation +$40.0M (+12%). Operating margin 27.9% against 25.4% (+2.5 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 27.9% | 25.4% | +2.5 pts |
| Net margin | 21.0% | 19.8% | +1.1 pts |
| Free cash flow margin | 18.8% | 16.8% | +2.1 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Aerospace - Commercial | $1.4B | $1.1B | $299M | +28% |
| Aerospace - Defense | $389M | $352M | $37.0M | +11% |
| Commercial Transportation | $372M | $332M | $40.0M | +12% |
| Gas Turbines | $321M | $233M | $88.0M | +38% |
| Other | $106M | $76.0M | $30.0M | +39% |
| Revenue | $2.5B | $2.1B | $494M | +24% |
| Operating profit | $711M | $521M | $190M | +36% |
| Costs & expenses | $1.8B | $1.5B | $304M | +20% |
| Pre-tax earnings | $649M | $469M | $180M | +38% |
| Other expense, net | $62.0M | $52.0M | $10.0M | +19% |
| Cost of revenue | $1.6B | $1.4B | $231M | +17% |
| Research & development | $8.0M | $9.0M | −$1.0M | -11% |
| SG&A | $148M | $89.0M | $59.0M | +66% |
| Other operating costs | $84.0M | $69.0M | $15.0M | +22% |
| Net earnings | $534M | $407M | $127M | +31% |
| Income tax | $115M | $62.0M | $53.0M | +85% |
| Depreciation & amortization | $84.0M | $69.0M | $15.0M | +22% |
| Working capital & other | $35.0M | $30.0M | $5.0M | +17% |
| Operating cash flow | $583M | $446M | $137M | +31% |
| Free cash flow (OCF − capex) | $479M | $344M | $135M | +39% |
| Capital expenditures | $104M | $102M | $2.0M | +2% |
Questions
How much did Howmet Aerospace's revenue grow year over year in Q2 2026?
Howmet Aerospace's revenue rose $494M (+24%) from $2.1B in Q2 2025 to $2.5B in Q2 2026.
What drove Howmet Aerospace's revenue change in Q2 2026?
Aerospace - Commercial +$299M (+28%); Gas Turbines +$88.0M (+38%); Commercial Transportation +$40.0M (+12%).