The company expects commercial aerospace wide body demand to grow faster than narrow body demand on a production percentage basis.

The company expects increased demand in 2024 in the commercial aerospace, defense aerospace, oil and gas, and industrial gas turbine markets.

The company expects quality control issues at Boeing to negatively impact narrow body and wide body production rates in the near term.

The company has aligned its operations consistent with how the Chief Executive Officer assesses operating performance and allocates capital.

Howmet and the United Autoworkers at the Cleveland, Ohio location approved a new five-year collective bargaining agreement, covering approximately 750 employees.

Despite ongoing challenges, the company has shown the ability to manage supply chain and operational issues, as reflected in the improved financial results.

Quality control issues at Boeing are expected to negatively impact production rates, which has a material impact on Howmet's financial performance.

The company's forward-looking statements are subject to risks including deterioration in global economic and financial market conditions and unfavorable changes in the markets served by Howmet.

The company's forward-looking statements are subject to risks including inability of suppliers to meet obligations due to supply chain disruptions, and failure to attract and retain a qualified workforce.

The company is a global leader in lightweight metals engineering and manufacturing, with innovative, multi-material products used worldwide.

The company derived 66% and 63% of its revenue from the aerospace (commercial and defense) markets for the first quarter ended March 31, 2024 and 2023, respectively.

The company's forward-looking statements are subject to risks including competition from new product offerings, disruptive technologies or other developments.

Cost of goods sold as a percentage of sales decreased to 70.7% in Q1 2024 from 72.6% in Q1 2023, driven by higher volumes and favorable product pricing.

Segment Adjusted EBITDA for the Fastening Systems segment increased $34, or 59%, in the first quarter of 2024 compared to the first quarter of 2023, primarily due to higher volumes in the commercial aerospace market as well as productivity gains.

The Engine Products segment absorbed approximately 435 net headcount in the first quarter of 2024, in support of expected revenue increases, resulting in unfavorable near-term recruiting, training and operational costs.

Howmet's innovative, multi-material products, which include nickel, titanium, aluminum, and cobalt, are used worldwide.

Howmet is a global leader in lightweight metals engineering and manufacturing.

The company's forward-looking statements are subject to risks including competition from new product offerings, disruptive technologies or other developments.

The Company repurchased approximately 2.2 million shares of its common stock at an average price of $66.87 per share (excluding commissions cost) for approximately $150 million in cash.

After giving effect to the share repurchases made through March 31, 2024, approximately $547 million Board authorization remains available.

On April 4, 2024, the Company established a commercial paper program under which the Company may issue unsecured commercial paper notes from time to time up to a maximum aggregate face amount of $1,000.

Howmet participates in environmental assessments and/or cleanups at more than 30 locations.

The Company's remediation reserve balance was $17 as of both March 31, 2024 and December 31, 2023, and was recorded in Other noncurrent liabilities and deferred credits in the Consolidated Balance Sheet.

The company's forward-looking statements are subject to risks including compliance with U.S. and foreign trade and tax laws, sanctions, embargoes and other regulations.

Aircraft production in the commercial aerospace industry continues to recover based on increases in demand for narrow body and wide body aircraft.

The company's forward-looking statements are subject to risks including geopolitical, economic, and regulatory risks relating to Howmet's global operations.

The company's forward-looking statements are subject to risks including compliance with U.S. and foreign trade and tax laws, sanctions, embargoes and other regulations.