08:08 AM EDT, 05/02/2024 (MT Newswires) -- Howmet Aerospace ( HWM ) reported Q1 adjusted earnings Thursday of $0.57 per diluted share, up from $0.42 a year earlier.

Analysts polled by Capital IQ expected $0.52.

Revenue for the quarter ended March 31 was $1.82 billion, compared with $1.6 billion a year ago.

Analysts surveyed by Capital IQ expected $1.74 billion.

The company increased its full-year 2024 adjusted earnings guidance to $2.31 to $2.39 per diluted share, from $2.10 to $2.20 previously. Analysts polled by Capital IQ expect $2.21.

The company also raised its revenue outlook for the year to $7.23 billion to $7.38 billion, from $7 billion to $7.2 billion. Analysts surveyed by Capital IQ expect $7.14 billion.

Howmet said it expects Q2 adjusted earnings of $0.57 to $0.59 per diluted share. Analysts expect $0.54. Revenue for the quarter is seen at $1.83 billion to $1.85 billion. Analysts surveyed by Capital IQ expect $1.77 billion.

The company also said that it expects to increase its quarterly common stock dividend to $0.07 per share at the start of Q3.

Howmet shares gained nearly 8% in recent premarket trading.

Price: 72.03, Change: +5.25, Percent Change: +7.86