Howmet Aerospace (HWM) risk factors, FY2024 10-K

Howmet Aerospace's FY2024 10-K, filed Feb 14, 2025, lists 18 risk factors in 3 groups. There is no earlier 10-K to compare against, so the most company-specific risks are listed below.

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Risk factors listed
183 groups
Section length
6k wordsItem 1A

Howmet Aerospace's biggest risks in the FY2024 10-K

  • Howmet's risks are dominated by cyclical aerospace and transportation markets and operational dependencies on key manufacturing facilities and suppliers.

The risks most specific to Howmet Aerospace

  • Risks Related to Our Business and Operations

    The markets for Howmet’s products are cyclical, and such markets and Howmet’s operations are influenced by a number of factors, including global economic conditions and regulations

    Howmet sells many products to cyclical industries like aerospace and commercial transportation, making demand sensitive to customer needs.

  • Risks Related to Our Business and Operations

    A material disruption of, or manufacturing difficulties at, Howmet’s manufacturing operations could adversely affect Howmet’s business

    Disruptions at key manufacturing facilities could prevent Howmet from meeting contractual obligations to customers.

  • Risks Related to Our Business and Operations

    Howmet is dependent on a limited number of suppliers for materials and services essential to our operations, including raw materials, and supply chain disruptions could have a material adverse effect on our business

    Howmet depends on a limited number of suppliers and annual or long-term contracts for essential raw materials.

  • Risks Related to Our Business and Operations

    Howmet’s business depends, in part, on its ability to successfully meet program demand, production targets, and commitments

    Howmet must successfully meet production increases and commitments for commercial, military, and engine programs.

  • Risks Related to Our Business and Operations

    Howmet could be adversely affected by the loss of key customers or significant changes in the business or financial condition of its customers

    Howmet could be adversely affected by the loss of key customers or changes in their financial condition.

  • Risks Related to Legal and Regulatory Matters

    Our business may be adversely affected if we fail to comply with government contracting regulations

    Howmet derives revenue from U.S. and foreign government sales subject to complex procurement laws and regulations.

  • Risks Related to Legal and Regulatory Matters

    Labor disputes and other employee relations issues could adversely affect Howmet’s business, financial condition, or results of operations

    A significant portion of Howmet employees are represented by labor unions under collective bargaining agreements.

  • Risks Related to Legal and Regulatory Matters

    Howmet is exposed to environmental, health, and safety risks and is subject to a broad range of health, safety, and environmental laws and regulations which may result in substantial costs and liabilities

    Howmet's global operations are subject to stringent health, safety, and environmental laws resulting in cleanup and compliance costs.

All 18 risk factors

Headings as the filing states them, in filing order.

Risks Related to Our Business and Operations

  1. 01The markets for Howmet’s products are cyclical, and such markets and Howmet’s operations are influenced by a number of factors, including global economic conditions and regulations
  2. 02A material disruption of, or manufacturing difficulties at, Howmet’s manufacturing operations could adversely affect Howmet’s business
  3. 03Howmet is dependent on a limited number of suppliers for materials and services essential to our operations, including raw materials, and supply chain disruptions could have a material adverse effect on our business
  4. 04Howmet’s business depends, in part, on its ability to successfully meet program demand, production targets, and commitments
  5. 05Failure to attract and retain a qualified workforce and key personnel or to provide adequate succession planning could adversely affect Howmet’s operations and competitiveness
  6. 06Howmet could be adversely affected by the loss of key customers or significant changes in the business or financial condition of its customers
  7. 07Howmet faces significant competition, which may have an adverse effect on profitability
  8. 08Howmet’s global operations expose Howmet to risks that could adversely affect its business, financial condition, results of operations or cash flows, or the market price of its securities

Risks Related to Liquidity and Capital Resources

  1. 09A decline in Howmet’s financial performance or outlook could negatively impact its credit profile, its access to capital markets and its borrowing costs
  2. 10An adverse decline in the liability discount rate, lower-than-expected investment return on pension assets, and other factors could adversely affect Howmet’s results of operations or amount of pension funding contributions in future periods
  3. 11Dividends and share repurchases fall within the discretion of our Board of Directors and depend on a number of factors

Risks Related to Legal and Regulatory Matters

  1. 12Howmet may be exposed to significant legal proceedings, investigations, or changes in U.S. federal, state, or foreign law, regulation, or policy
  2. 13Our business may be adversely affected if we fail to comply with government contracting regulations
  3. 14Howmet may face challenges to its intellectual property rights which could adversely affect the Company’s reputation, business, and competitive position
  4. 15Unanticipated changes in Howmet’s tax provisions or exposure to additional tax liabilities could affect Howmet’s future profitability
  5. 16Labor disputes and other employee relations issues could adversely affect Howmet’s business, financial condition, or results of operations
  6. 17Howmet is exposed to environmental, health, and safety risks and is subject to a broad range of health, safety, and environmental laws and regulations which may result in substantial costs and liabilities
  7. 18Howmet may be affected by global climate change or by legal, regulatory, customer, or supplier responses to such change

Other Howmet Aerospace 10-Ks

  • FY2025 10-K risk factors
    19 risks1 new3 reworded

    Howmet added risks related to its $1.8 billion acquisition of CAM from Stanley Black & Decker. The company updated its competitive risk to account for artificial intelligence developments.

    Filed Feb 12, 2026

About this page

The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.