Howmet Aerospace Dips Following Revenue Miss In Q3

(RTTNews) - Shares of Howmet Aerospace Inc. (HWM) are falling more than 5% Monday morning after the company's third-quarter revenue missed analysts' view.

The company's revenue was $1.43 billion, up 12% year over year, that missed the average estimate of analysts polled by Thomson-Reuters of $1.44 billion.

Net income was $80 million, or $0.19 per share, up from $27 million, or $0.06 per share, a year ago.

Net income excluding special items were $152 million, or $0.36 per share, in line with the consensus estimate.

Looking forward, the company expects fourth-quarter revenue to be in the range of $1.45 billion-$1.5 billion and adjusted EPS to be in the range of $0.37-$0.39. Analysts expect the company to report earnings of $0.38 per share on revenue of $1.5 billion for the quarter.

For the full year, revenue is expected between $5.6 billion and $5.65 billion and adjusted EPS between $1.39 and $1.41. The consensus estimate for revenue is at $5.67 billion and for earnings is at $1.4 per share.

HWM, currently at $34.21, has traded in the range of $27.41-$38.99 in the last 1 year.