Howmet Aerospace Inc. is a leading global provider of advanced engineered solutions for the aerospace and transportation industries. The Company's primary businesses focus on jet engine components, aerospace fastening systems, and airframe structural components necessary for mission-critical performance and efficiency in aerospace and defense applications, as well as forged aluminum wheels for commercial transportation. Howmet's technological capabilities support the innovation and growth of next-generation aerospace programs. Its differentiated technologies enable lighter, more fuel-efficient aircraft and commercial trucks to operate with a lower carbon footprint and support more sustainable air and ground transportation. Howmet is a global company operating in 20 countries. Based upon the country where the point of shipment occurred, North America and Europe generated 70% and 23%, respectively, of Howmet's sales in 2023.

• Employees: 23,200 (as of December 31, 2023)
• Geographic Footprint: 20 countries
• Headquarters: Pittsburgh, Pennsylvania
• Founded: 1888
• Number of locations/facilities: Not explicitly stated in the filing
• Revenue: $6.64 billion (FY2023)
• Market Capitalization: Approximately $20 billion (as of the last business day of the registrant's most recently completed second fiscal quarter)
• Key Subsidiaries/Brands: Alcoa® Wheels

• CEO: John C. Plant
• CFO: Ken Giacobbe
• Chief Commercial Officer: Michael N. Chanatry
• Chief Legal and Compliance Officer and Secretary: Lola F. Lin
• Chief Human Resources Officer and Interim President, Engineered Structures: Neil E. Marchuk
• Vice President and Controller: Barbara L. Shultz

The executive officers are annually elected or appointed to serve until the next annual meeting of the Board of Directors.

• Annual Revenue: $6.64 billion (FY2023)
• Net Income: $765 million (FY2023)
• Market Cap: Approximately $20 billion (as of the last business day of the registrant's most recently completed second fiscal quarter)
• Total Assets: $10.428 billion (as of December 31, 2023)
• Number of Employees: 23,200 (as of December 31, 2023)
• Key Financial Highlights: Sales increased 17% from 2022, Net income increased 61% from 2022, Total Segment Adjusted EBITDA increased 17% from 2022.

Howmet produces a range of high-performance, multi-material, highly engineered products, and vertically integrated machined solutions for various markets.

• Investment Castings: For jet engines and industrial gas turbines (nickel superalloys, titanium, and aluminum), including airfoils and structural parts.
• Seamless Rolled Rings: For jet engines (mostly nickel superalloys).
• Fastening Systems: For aerospace, industrial and commercial transportation applications (titanium, steel, and nickel superalloys).
• Forged Jet Engine Components: (e.g., jet engine disks).
• Machined and Forged Aircraft Parts: (titanium and aluminum).
• Forged Aluminum Commercial Vehicle Wheels: Sold under the Alcoa® Wheels brand.

Howmet has four reportable segments, which are organized by product on a worldwide basis:

• Engine Products: Produces components primarily for aircraft engines and industrial gas turbines, including airfoils and seamless rolled rings.
• Fastening Systems: Produces aerospace and industrial fastening systems as well as commercial transportation fasteners and installation tools.
• Engineered Structures: Produces titanium ingots and mill products for aerospace and defense applications and is vertically integrated to produce titanium forgings, extrusions, forming and machining services for airframe, wing, aero-engine, and landing gear components.
• Forged Wheels: Manufactures forged aluminum wheels for trucks, buses, and trailers and related products for the global commercial transportation market.

Sales by market for the year ended December 31, 2023:

• Aerospace - Commercial: 49%
• Aerospace - Defense: 15%
• Commercial Transportation: 21%
• Industrial and Other: 15%

Howmet seeks to provide its customers with innovative solutions through offering differentiated products. The company's strategic priorities include modernizing commercial and defense platforms, achieving greater fuel economies, reducing emissions, passenger comfort, and maintenance efficiencies. Howmet also focuses on capital efficiency and improving its operating performance through profitable revenue, efficient operations, and margin enhancement. The company aims to help its customers achieve greater fuel economies, reduced emissions, passenger comfort, and maintenance efficiencies.

• Key strategic initiatives: Focus on revenue growth and operational performance.
• Growth drivers: Solid growth in the commercial aerospace market.
• Investment priorities: Capacity expansions.

Howmet operates in the aerospace, commercial transportation, and industrial markets. The company faces substantial and intense competition in these markets. Howmet believes its advanced technology, manufacturing processes, and experience provide advantages to its customers, such as high quality and superior mechanical properties that meet the Company's customers' most stringent requirements. However, many of the products Howmet makes can be produced by competitors using similar types of manufacturing processes as well as alternative forms of manufacturing.

• Market Position: Howmet is a market leader in most of its principal markets.
• Key Competitors: Berkshire Hathaway Inc., VSMPO, Allegheny Technologies, Inc., Lisi Aerospace, Aubert & Duval, Doncasters Group Ltd., Consolidated Precision Products Corp., Weber Metals, Forgital, Frisa, Accuride Corporation, Speedline, Nippon Steel Corporation, Dicastal, Alux, and Wheels India Limited.
• Industry Trends: Cyclical fluctuations in global economic conditions and lightweight metals end-use markets, modernization of commercial and defense platforms, and increasing competition from other aluminum wheel suppliers.

• Market Risks: Cyclical fluctuations in global economic conditions and lightweight metals end-use markets, changes in demand for finished goods manufactured by customers, and the ongoing conflict between Russia and Ukraine impacting global energy markets.
• Operational Risks: Material disruptions at manufacturing facilities due to equipment failures, natural disasters, power outages, fires, terrorism, labor disputes, and supply chain disruptions due to dependence on a limited number of suppliers for materials and services.
• Financial Risks: Fluctuations in raw material and energy costs, inability to pass on cost increases to customers, and inability to meet program demand, production targets and commitments.
• Regulatory Risks: Compliance with federal, state, local, and foreign laws, rules and regulations, including those relating to the environment, and government contracting regulations.
• Competitive Risks: Intense competition in the markets they serve, new entrants in the markets, new product offerings, new technologies, and industry consolidation.