08:04 AM EDT, 07/30/2024 (MT Newswires) -- Howmet Aerospace ( HWM ) reported Q2 adjusted earnings Tuesday of $0.67 per diluted share, up from $0.44 a year earlier.

Analysts polled by Capital IQ expected $0.60.

Sales for the quarter ended June 30 were $1.88 billion, up from $1.65 billion a year earlier.

Analysts polled by Capital IQ expected $1.83 billion.

The company said it now expects 2024 adjusted EPS to be from $2.53 to $2.57, higher than the prior outlook of $2.31 to $2.39. Analysts surveyed by Capital IQ expect $2.39.

Revenue outlook for 2024 was also raised to $7.40 billion to $7.48 billion from the prior outlook of $7.23 billion to $7.38 billion. Analysts surveyed by Capital IQ expect $7.32 billion.

For Q3, the company is looking at adjusted EPS of $0.63 to $0.65 on revenue of $1.85 billion to $1.87 billion. Analysts surveyed by Capital IQ expect $0.60 normalized EPS on $1.81 billion revenue.

The company said its board declared a dividend of $0.08 per share, a 60% increase from the Q2 dividend of $0.05 per share. The dividend is payable on Aug. 26 to shareholders of record as of Aug. 9.

The board also authorized a $2 billion increase in the company's share repurchase program to $2.49 billion.

Shares of the company were up 8.6% in recent Tuesday premarket activity.

Price: 90.00, Change: +7.15, Percent Change: +8.63