Stock Alert: Howmet Aerospace Raises Annual Outlook, Stock Jumps

(RTTNews) - Shares of Howmet Aerospace Inc. (HWM) are climbing more than 23% Monday morning after the company raised its full-year outlook.

The stock touched a new high of $23.14 this morning.

The company expects full-year revenue to be about $5.250 billion +/- $30M, up from the prior guidance of $5.200 billion +/- $100M. On average, 6 analysts polled by Thomson Reuters expect the company to report full-year revenue of $5.19 billion.

Howmet has raised full-year earnings per share expectation to the range of $0.68 - $0.76 from $0.60 - $0.72, provided earlier. The consensus estimate is at $0.71 per share.

The company sees fourth quarter revenue to be in the range of $1.20 billion - $1.26 billion and adjusted earnings per share to be in the range of $0.13 - $0.21. The consensus estimate for fourth-quarter revenue is $1.19 billion and for EPS is at $0.13 per share.

Third-quarter earnings on an adjusted basis was $0.03 per share, missed the consensus estimate at $0.05 per share.

Revenue of $1.134 billion, down 37% year over year, beat the the view at $1.12 billion.