Howmet: Q4 Earnings Snapshot

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PITTSBURGH (AP) _ Howmet Aerospace Inc. (HWM) on Wednesday reported fourth-quarter profit of $77 million.

On a per-share basis, the Pittsburgh-based company said it had profit of 18 cents. Earnings, adjusted for one-time gains and costs, came to 30 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.

The maker of engineered products for the aerospace and other industries posted revenue of $1.29 billion in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $1.32 billion.

For the year, the company reported profit of $258 million, or 59 cents per share. Revenue was reported as $4.97 billion.

For the current quarter ending in April, Howmet expects its per-share earnings to range from 28 cents to 30 cents.

The company said it expects revenue in the range of $1.28 billion to $1.32 billion for the fiscal first quarter.

Howmet expects full-year earnings in the range of $1.31 to $1.43 per share, with revenue ranging from $5.56 billion to $5.72 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HWM at https://www.zacks.com/ap/HWM