HWM

AI Research

$9.1B Revenue + $1.6B FCF Targeted for 2026 → F-35 Drives 45% of Defense Aero Revenue

Howmet Aerospace held its Technology & Markets Day on March 10, confirming it is on track for its upgraded 2026 revenue guidance of $9.1 billion (+10% from record 2025) and a $1.6 billion free cash flow target. The company revealed that the F-35 is now expected to account for 45% of its Defense Aero revenue in 2026, and announced a strategic pivot into industrial gas turbines for data center power generation. The stock has surged over 100% in the past year and holds a Strong Buy consensus from 23 analysts with an average price target of $278.30, representing 9.6% upside, with Fred Alger Management increasing its stake by 62.4%.