Howmet Declares Second Quarter Income of $ 1.2 Billion | Information, sports activities, jobs

WARREN – Howmet Aerospace, which has a manufacturing facility in Weathersfield, ended the second quarter with sales of $ 1.2 billion, the Pittsburgh-based company reported.

The amount is 5 percent below the same three months in 2020 due to disruptions in the commercial aerospace market, mainly due to the virus outbreak and Boeing 787 production declines, according to the company.

Howmet also reported on its quarterly earnings report that income from continuing operations was $ 74 million, compared with a loss of $ 84 million in the second quarter of 2020.

Also, operating profit was $ 207 million, up 180 percent year over year, an increase that the company said was driven by growth in commercial transportation and industrial markets, cost reductions, and affordable product prices.

The growth helped offset the decline in the commercial aerospace market.

Howmet had $ 716 million in cash at the end of the quarter after paying off approximately $ 476 million in debt and buying back $ 200 million of common stock.

The company was spun off from Arconic Inc. in April 2020 and is the technical product and forging side of the former company.

business@tribtoday.com

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