Exhibit 99.1

FOR IMMEDIATE RELEASE

Howmet Aerospace Reports Third Quarter 2026 Results

Revenue up 29% Year over Year, Organic Growth 25%; GAAP EPS $1.42, Adjusted EPS $1.46

Healthy Third Quarter Cash Generation; $500 Million Deployed for Common Stock Repurchases

Additional $5 Billion Share Repurchase Authorization by Board of Directors

Full Year 2026 Guidance Increased

Full Year 2027 Revenue Guidance: Approximately $11.5 Billion, Up ~12% Year over Year

Summary Financial Results

¹ For more information, see “Non-GAAP Financial Measures” and the schedules to this release.

Key Activity

PITTSBURGH, PA, October 29, 2026 – Howmet Aerospace (NYSE: HWM) announced results today for the third quarter 2026.

Howmet Aerospace Executive Chairman and Chief Executive Officer John Plant said, “Howmet's performance was solid in all dimensions, with third quarter results exceeding the high end of guidance. Revenue grew 29% year over year and 25% organically, the strongest quarterly growth rate on record for Howmet. Adjusted EBITDA margin expanded 310 basis points year over year to 32.5%. Free cash flow was a robust $562 million after $147 million in capital expenditures, as we continue to invest for growth. The free cash flow supported $500 million in common stock repurchases in the third quarter, lifting year-to-date repurchases to $1.1 billion. The Board of Directors authorized an increase in the share repurchase program by $5 billion to $5.397 billion, reflecting confidence in the Company's strong free cash flow outlook.”

Mr. Plant continued, “Our trajectory points to a healthy fourth quarter and the conclusion of another strong year for Howmet. The commercial aerospace market continues to look robust, underpinned by the extraordinary aircraft order backlog that supports expected production volume increases throughout 2027 and beyond. We do not expect any material impact on our spares demand from the Middle East conflict given the backlog of engine shop visits and requirements to support next generation narrowbody engines. Defense markets remain solid, with further spares needs and likely increases in legacy fighter builds. Of particular note was the 45% year-over-year gas turbines revenue growth, which demonstrates both the extraordinary addition to output and, even more importantly, the increase in market share. Demand in the gas turbines market continues to strengthen with customers looking to increase volumes beyond previous expectations, which supports the outlook beyond 2028. Our capital expenditure plans envisage elevated spend beyond 2027 to support growth in both aerospace and defense as well as gas turbines. Our disciplined focus on free cash flow conversion will remain steadfast throughout this elevated investment period. The commercial transportation market continues to experience recovery in North America. Looking forward to 2027, we envisage revenue of approximately $11.5 billion, representing approximately 12% growth from the increased 2026 guidance.”

2026 Guidance

¹ Reconciliations of the forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measures, as well as the directly comparable GAAP measures, are not available without unreasonable efforts due to the variability and complexity of the charges and other components excluded from the non-GAAP measures, such as gains or losses on sales of assets, taxes, and any future restructuring or impairment charges. In addition, there is inherent variability already included in the GAAP measures, including, but not limited to, price/mix and volume. Howmet Aerospace believes such reconciliations would imply a degree of precision that would be confusing or misleading to investors.

Consolidated Results

Howmet Aerospace reported third quarter 2026 revenue of $2.70 billion, up 29% year over year with organic growth of 25%, and Adjusted EPS of $1.46, up 54% year over year. Revenue was driven by 32% growth in the commercial aerospace market, 10% growth in the defense aerospace market, 45% growth in the gas turbines market, and 28% growth in the commercial transportation market.

The Company reported Adjusted EBITDA of $879 million, up 43% year over year. The year-over-year increase was driven by growth in the commercial aerospace, defense aerospace, gas turbines, and commercial transportation markets. Adjusted EBITDA margin was up approximately 310 basis points year over year at 32.5%.

Segment Results

Engine Products

Engine Products reported third quarter 2026 revenue of $1.45 billion, an increase of 33% year over year, driven by growth in the commercial aerospace and gas turbines markets. Segment Adjusted EBITDA was $567 million, up 57% year over year, driven by growth in the commercial aerospace and gas turbines markets. The Segment absorbed net headcount of approximately 520 in the quarter in support of expected future revenue increases. Segment Adjusted EBITDA margin increased approximately 580 basis points year over year to 39.1%.

Fastening Systems

Fastening Systems reported revenue of $630 million, an increase of 41% year over year, driven by growth in the commercial aerospace and defense aerospace markets. Excluding the CAM and Brunner acquisitions, revenue grew 10%. Segment Adjusted EBITDA was $185 million, up 34% year over year, driven by growth in the commercial aerospace and defense aerospace markets and including contributions from the acquisitions. Segment Adjusted EBITDA margin decreased approximately 140 basis points year over year to 29.4%, reflecting impact from the CAM acquisition.

Engineered Structures

Engineered Structures reported revenue of $295 million, a decrease of 4% year over year, principally driven by the divestiture of the Savannah disk forging facility. Excluding the Savannah divestiture, revenue grew 8%. Segment Adjusted EBITDA was $70 million, up 9% year over year, on the exit of lower-margin business including the divestiture. Segment Adjusted EBITDA margin increased approximately 290 basis points year over year to 23.7%.

Forged Wheels

Forged Wheels reported revenue of $327 million, an increase of 32% year over year, driven by higher volumes in the commercial transportation market and an increase in aluminum cost pass through. Segment Adjusted EBITDA was $86 million and increased 18% year over year, driven by favorable volume. Segment Adjusted EBITDA margin decreased approximately 330 basis points year over year to 26.3%, due to the impact of higher aluminum cost pass through.

Repurchased $500 Million of Common Stock in Third Quarter 2026; $1.1B Year To Date

In the third quarter 2026, Howmet Aerospace repurchased $500 million of common stock at an average price of $264.77 per share, retiring approximately 1.9 million shares. Year to date through October 28, 2026, the Company has repurchased $1.1 billion of shares at an average price of $250.72 per share.

Board of Directors Approved a $5 Billion Increase to the Share Repurchase Program

On October 28, 2026 the Board of Directors authorized an increase in the Company's share repurchase program by $5 billion, which, together with the remaining authorization of $397 million, results in authorization to repurchase up to $5.397 billion of the Company's outstanding stock.

Paid Down $60 Million of Debt

In the third quarter 2026, the Company paid down $60 million of borrowings on its commercial paper program. At the end of the quarter, $390 million of the $1 billion commercial paper program was outstanding.

Quarterly Common Stock Dividend Increases 17% to $0.14 Per Share in Third Quarter 2026

On July 27, 2026, the Board of Directors declared a dividend of $0.14 per share on its common stock, which was paid on August 25, 2026. The quarterly dividend represents a 17% increase from the second quarter 2026 dividend of $0.12 per share.

Howmet Aerospace will hold its quarterly conference call at 10:00 AM Eastern Time on Thursday, October 29, 2026. The call will be webcast via www.howmet.com. The press release and presentation materials will be available at approximately 7:00 AM ET on October 29, via the “Investors” section of the Howmet Aerospace website.

About Howmet Aerospace

Howmet Aerospace Inc., headquartered in Pittsburgh, Pennsylvania, is a leading global provider of advanced engineered solutions for the aerospace, gas turbine, and transportation industries. The Company’s primary businesses focus on engine components, fastening systems, and airframe structural components necessary for mission-critical performance and efficiency, including in aerospace, defense, and gas turbine applications, as well as forged aluminum wheels for commercial transportation. With approximately 1,200 granted and pending patents, the Company’s differentiated technologies enable lighter, more fuel-efficient aircraft and commercial trucks to operate with a lower carbon footprint. For more information, visit www.howmet.com.

Dissemination of Company Information

Howmet Aerospace intends to make future announcements regarding Company developments and financial performance through its website at www.howmet.com.

Forward-Looking Statements

This release contains statements that relate to future events and expectations and as such constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those containing such words as "anticipates," "believes," "could," “envisions,” "estimates," "expects," "forecasts," "goal," "guidance," "intends," "may," "outlook," "plans," "points," “poised,” "projects," "seeks," "sees," "should," "targets," "will," "would," or other words of similar meaning. All statements that reflect Howmet Aerospace’s expectations, assumptions or projections about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, statements, forecasts and outlook relating to the condition of markets; future financial results or operating performance; future strategic actions; Howmet Aerospace's strategies, outlook, and business and financial prospects; any future dividends, debt issuances, debt reduction and repurchases of its common stock; and statements regarding any acquisitions, including expected benefits. These statements reflect beliefs and assumptions that are based on Howmet Aerospace’s perception of historical trends, current conditions and expected future developments, as well as other factors Howmet Aerospace believes are appropriate in the circumstances. Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and changes in circumstances that are difficult to predict, which could cause actual results to differ materially from those indicated by these statements. Such risks and uncertainties include, but are not limited to: (a) deterioration in global economic and financial market conditions generally, or unfavorable changes in the markets served by Howmet Aerospace, including due to escalating tariff and other trade policies and energy costs, and the resulting impacts on Howmet Aerospace’s supply and distribution chains, as well as on market volatility and global trade generally; (b) the impact of potential cyber attacks and information technology or data security breaches; (c) the loss of significant customers or adverse changes in customers’ business or financial conditions; (d) manufacturing difficulties or other issues that impact product performance, quality or safety; (e) inability of suppliers to meet obligations due to supply chain disruptions or otherwise; (f) failure to attract and retain a qualified workforce and key personnel, labor disputes or other employee relations issues; (g) the inability to achieve anticipated or targeted financial performance, operations or competitiveness, or realization of expected benefits from acquisitions, including the effective integration of acquired businesses; (h) inability to meet increased demand, production targets or commitments; (i) competition from new product offerings, disruptive technologies or other developments; (j) geopolitical, economic, and regulatory risks relating to Howmet Aerospace’s global operations, including geopolitical and diplomatic tensions, instabilities, conflicts and wars, as well as compliance with U.S. and foreign trade and tax laws, sanctions, embargoes and other regulations; (k) the outcome of contingencies, including legal proceedings, government or regulatory investigations, and environmental remediation; (l) failure to comply with government contracting regulations; (m) adverse changes in discount rates or investment returns on pension assets; and (n) the other risk factors summarized in Howmet Aerospace’s Form 10-K for the year ended December 31, 2025 and other reports filed with the U.S. Securities and Exchange Commission. Market projections are subject to the risks discussed above and other risks in the market. Under its share repurchase program, the Company may repurchase shares from time to time, in amounts, at prices, and at such times as the Company deems appropriate, subject to market conditions, legal requirements and other considerations. The program has no stated expiration, and the Company is not obligated to repurchase any specific number of shares or to do so at any particular time. The declaration of any future dividends is subject to the discretion and approval of the Board of Directors after the Board’s consideration of all factors it deems relevant and subject to applicable law. The Company may modify, suspend, or cancel its share repurchase program or any dividend policy in any manner and at any time that it may deem necessary or appropriate. Credit ratings are not a recommendation to buy or hold any Howmet Aerospace securities, and they may be revised or revoked at any time at the sole discretion of the credit rating organizations. The statements in this release are made as of the date of this release, even if subsequently made available by Howmet Aerospace on its website or otherwise. Howmet Aerospace disclaims any intention or obligation to update publicly any forward-looking statements, whether in response to new information, future events, or otherwise, except as required by applicable law.

Non-GAAP Financial Measures

Some of the information included in this release is derived from Howmet Aerospace’s consolidated financial information but is not presented in Howmet Aerospace’s financial statements prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). Certain of these data are considered “non-GAAP financial measures” under SEC rules. These non-GAAP financial measures supplement our GAAP disclosures and should not be considered an alternative to the GAAP measure. Reconciliations to the most directly comparable GAAP financial measures and management’s rationale for the use of the non-GAAP financial measures can be found in the schedules to this release.

Other Information

In this press release, the acronym “FY” means “full year”; “Q” means “quarter”; “YoY” means year over year; “Adj.” means adjusted; Howmet, Howmet Aerospace, or the Company means Howmet Aerospace Inc.; "organic growth" refers to the Company's revenue growth excluding the impact of acquisitions and divestitures; and references to performance by Howmet Aerospace or its segments as “record” mean its best result since April 1, 2020 when Howmet Aerospace Inc. (previously named Arconic Inc.) separated from Arconic Corporation.

Howmet Aerospace Inc. and subsidiaries

Statement of Consolidated Operations (unaudited)

(in millions, except per-share amounts)

Howmet Aerospace Inc. and subsidiaries

Consolidated Balance Sheet (unaudited)

(in U.S. dollar millions)

Howmet Aerospace Inc. and subsidiaries

Statement of Consolidated Cash Flows (unaudited)

(in U.S. dollar millions)

Howmet Aerospace Inc. and subsidiaries

Segment Information (unaudited)

(in U.S. dollar millions)

Differences between the total segment and consolidated totals are in Corporate.

Howmet Aerospace Inc. and subsidiaries

Calculation of Financial Measures (unaudited)

(in U.S. dollar millions)

Reconciliation of Total Segment Adjusted EBITDA to Consolidated Operating income

Total Segment Adjusted EBITDA is a non-GAAP financial measure. Management believes that this measure is meaningful to investors because Total Segment Adjusted EBITDA provides additional information with respect to the Company's operating performance and the Company’s ability to meet its financial obligations. The Total Segment Adjusted EBITDA presented may not be comparable to similarly titled measures of other companies. Howmet’s definition of Total Segment Adjusted EBITDA is defined as Operating Income excluding Restructuring and other (credits) charges, Provision for depreciation and amortization, and Special items. Special items, including Restructuring and other (credits) charges, are excluded from Adjusted EBITDA.

⁽¹⁾ Pre-tax special items included in Corporate expense

Howmet Aerospace Inc. and subsidiaries

Calculation of Financial Measures (unaudited), continued

(in U.S. dollars millions)

Reconciliation of Free cash flow

The Accounts Receivable Securitization program remains unchanged at $250 outstanding.

Free cash flow is a non-GAAP financial measure. Management believes that this measure is meaningful to investors because management reviews cash flows generated from operations after taking into consideration capital expenditures (due to the fact that these expenditures are considered necessary to maintain and expand the Company's asset base and are expected to generate future cash flows from operations). It is important to note that Free cash flow does not represent the residual cash flow available for discretionary expenditures since other non-discretionary expenditures, such as mandatory debt service requirements, are not deducted from the measure.

Howmet Aerospace Inc. and subsidiaries

Calculation of Financial Measures (unaudited), continued

(in millions, except per-share amounts)

Reconciliation of Adjusted Net income

Adjusted Net income and Adjusted EPS are non-GAAP financial measures. Management believes that these measures are meaningful to investors because management reviews the operating results of the Company excluding the impacts of Restructuring and other charges (credits), Discrete tax items, and Other special items (collectively, “Special items”). There can be no assurances that additional Special items will not occur in future periods. To compensate for this limitation, management believes that it is appropriate to consider both Net income and Diluted EPS determined under GAAP as well as Adjusted Net income and Adjusted EPS.

Howmet Aerospace Inc. and subsidiaries

Calculation of Financial Measures (unaudited), continued

(in U.S. dollar millions)

Reconciliation of Operational tax rate

Operational tax rate is a non-GAAP financial measure. Management believes that this measure is meaningful to investors because management reviews the operating results of the Company excluding the impacts of Special items. There can be no assurances that additional Special items will not occur in future periods. To compensate for this limitation, management believes that it is appropriate to consider both the Effective tax rate determined under GAAP as well as the Operational tax rate.

Howmet Aerospace Inc. and subsidiaries

Calculation of Financial Measures (unaudited), continued

(in U.S. dollars millions)

Reconciliation of Adjusted Operating Income, Adjusted Operating Income Margin, Adjusted EBITDA, and Adjusted EBITDA margin

Adjusted operating income and Adjusted operating income margin are non-GAAP financial measures. Special items, including Restructuring and other charges (credits), are excluded from Adjusted operating income. Management believes that these measures are meaningful to investors because management reviews the operating results of the Company excluding the impacts of Special items. There can be no assurances that additional Special items will not occur in future periods. To compensate for this limitation, management believes that it is appropriate to consider both Operating income and Operating income margin determined under GAAP as well as Adjusted operating income and Adjusted operating income margin.

Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP financial measures. Management believes that these measures are meaningful to investors because they provide additional information with respect to the Company's operating performance and the Company’s ability to meet its financial obligations. The Adjusted EBITDA presented may not be comparable to similarly titled measures of other companies. The Company's definition of Adjusted EBITDA is defined as Operating Income excluding Restructuring and other charges (credits), Provision for depreciation and amortization, and Special items. Special items, including Restructuring and other charges (credits), are excluded from Adjusted EBITDA.

Howmet Aerospace Inc. and subsidiaries

Calculation of Financial Measures (unaudited), continued

(in U.S. dollars millions)

Reconciliation of Organic Revenue Growth

Organic revenue is a non-GAAP financial measure. Management believes this measure is meaningful to investors as it presents revenue on a comparable basis for all periods presented excluding the impact of the acquisitions of CAM (acquired April 2026) and Brunner (acquired February 2026) and the sale of the disk forging facility in Savannah, GA (divested March 2026). Management believes that it is appropriate to consider both Sales determined under GAAP as well as Organic Revenue.