Here's Why This Hot Aerospace Stock Surged This Week
Howmet Aerospace (NYSE: HWM) stock is up a whopping 75% in 2024 and rose 14.7% in the last week to Friday morning trading. The latest leg up is due to its impressive second-quarter earnings release earlier this week.
The company generates around 52% of its sales from commercial aerospace and 16% from defense aerospace, with commercial transportation at about 18%. The remaining 14% is under the "industrial and other" heading. Its crucial end markets are jet engine components, aerospace fastening systems, and airframe structural components.
Key customers include aerospace and defense giants GE Aerospace (12% of 2023 revenue) and (9%). While it's no secret that end market demand for airplanes (commercial or defense) remains robust, and manufacturers like Boeing and Airbus have multiyear backlogs, there are questions about delivery rates.
Source Fool.com
