Feb 13 (Reuters) - Howmet Aerospace HWM.N on Thursday forecast first-quarter revenue and profit above Wall Street estimates while posting higher-than-expected quarterly results, driven by strong demand for its parts and aftermarket services from planemakers and carriers.
The growing demand for air travel has led airlines to expand their fleet, prompting aircraft manufacturers to accelerate production.
However, delays in the delivery of new planes have forced airlines to extend the lifespan of older aircraft, resulting in a surge in orders for lucrative aftermarket parts from suppliers such as Howmet.
Pennsylvania-based Howmet expects first-quarter revenue between $1.925 billion and $1.945 billion, the midpoint of which is above analysts' estimates of $1.918 billion, according to data compiled by LSEG.
It expects first-quarter adjusted earnings between 75 cents and 77 cents per share, ahead of estimates of 72 cents.
"The outlook for commercial aerospace remains solid with rising OEM production rates supported by strong demand as well as continued healthy growth in engine spares demand," CEO John Plant said in a statement.
Howmet, which supplies to both Airbus AIR.PA and Boeing BA.N, however, expects 2025 revenue slightly below estimates, setting a cautious tone for the year.
It sees 2025 revenue between $7.93 billion and $8.13 billion, the midpoint of which is marginally shy of expectations.
"We continue to employ a cautious view on underlying build rates in our guidance," Plant said.
Howmet expects adjusted profit per share for the year between $3.13 and $3.21. Analysts had expected $3.21.
For the fourth quarter ended December 31, the company's overall sales rose 9% to $1.89 billion, above estimates of $1.88 billion.
Adjusted profit per share in the reported quarter was 74 cents, above expectations of 72 cents.
(Reporting by Anandita Mehrotra and Utkarsh Shetti in Bengaluru; Editing by Shailesh Kuber)
((Anandita.Mehrotra@thomsonreuters.com;))
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