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Howmet Aerospace's (HWM) CEO John Plant on Credit Suisse 9th Annual Global Industrials Conference - Transcript

Dec. 01, 2021 2:59 PM ETHowmet Aerospace Inc. (HWM)
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Howmet Aerospace Inc. (NYSE:HWM) Credit Suisse 9th Annual Global Industrials Conference December 1, 2021 10:10 AM ET

Company Participants

John Plant – Chairman and Chief Executive Officer

Ken Giacobbe – Chief Financial Officer

Conference Call Participants

Brian Markovich – Credit Suisse

Brian Markovich

Good morning. Thanks for joining us for our 9th Annual Credit Suisse Industrials Conference. I'm Brian Markovich, the North American industrial sector specialist. I'm pleased to present the management of Howmet this morning. With me is John Plant, Chairman and CEO; Ken Giacobbe, CFO; and PT Luther, Vice President of Investor Relations. So let's just kick it off. Let's look at the industry environment. John, maybe you can start this out by summarizing the last quarter you reported and then maybe some broad assumptions behind your preliminary 2022 revenue outlook of plus 12% to 15%.

John Plant

Okay. So last quarter we considered to be quite positive in the fact that we said that was going to be the inflection point for Howmet in terms of moving to a growth phase. And indeed that did occur with revenues increasing and with commensurate healthy profitability put us in the, I say, top decile of aerospace supply companies. And then we guided for the fourth quarter with again continued growth for this year. And then also was bold enough to give a very preliminary, I think, I called it guesstimate for 2022 and really that was try to frame the bigger picture for the aerospace sector. So, yes, I'll leave it at that and let you ask supplemental as you feel appropriate.

Brian Markovich

Sure. Maybe on the recovery, can you comment about the pace of recovery you expect in each of your businesses and just kind of the nuances around how each one is going to recover in your mind?

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