HWM · 8-K · 20260806PR091610

Free Cash Flow and Liquidity

Howmet Aerospace Inc. · 2026-08-06 · Importance 64 · Surprise 56 · No source text

Second-quarter cash from operations increased 31% year over year to $583 million, while free cash flow rose 39% to $479 million after $104 million of capital expenditures. Six-month operating cash flow increased 48% to $1.036 billion and free cash flow increased 75% to $838 million after $198 million of capital expenditures. At June 30, 2026, cash and cash equivalents were $563 million, down from $742 million at December 31, 2025, while receivables increased to $1.040 billion and inventories increased to $2.183 billion. The accounts receivable securitization program remained unchanged with $250 million outstanding.

Key facts

• Six months free cash flow through June 30, 2026: $838 million, up 75% year over year source
• Six months cash provided from operations through June 30, 2026: $1,036 million, up 48% year over year source
• Second quarter 2026 cash provided from operations: $583 million, up 31% year over year source
• Second quarter 2026 free cash flow: $479 million, up 39% year over year after $104 million in capital expenditures in the quarter source
• Total assets as of June 30, 2026: $13,251 million and total liabilities: $7,519 million source
• As of June 30, 2026 cash and cash equivalents on consolidated balance sheet: $563 million (company also reports $564 million in cash, cash equivalents and restricted cash at end of period elsewhere) source
• Accounts Receivable Securitization program outstanding remains unchanged at $250 million source

Impact estimates