Howmet Aerospace (HWM) risk factors, FY2025 10-K

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 profitability21% rewritten
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
9. 09Howmet may not realize the expected benefits of acquisitions on the anticipated time frame or at allNew

Risks Related to Liquidity and Capital Resources

1. 10A decline in Howmet’s financial performance or outlook could negatively impact its credit profile, its access to capital markets and its borrowing costs
2. 11An 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. 12Dividends 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. 13Howmet may be exposed to significant legal proceedings, investigations, or changes in U.S. federal, state, or foreign law, regulation, or policy29% rewritten
2. 14Our business may be adversely affected if we fail to comply with government contracting regulations
3. 15Howmet may face challenges to its intellectual property rights which could adversely affect the Company’s reputation, business, and competitive position27% rewritten
4. 16Unanticipated changes in Howmet’s tax provisions or exposure to additional tax liabilities could affect Howmet’s future profitability
5. 17Labor disputes and other employee relations issues could adversely affect Howmet’s business, financial condition, or results of operations
6. 18Howmet 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. 19Howmet may be affected by global climate change or by legal, regulatory, customer, or supplier responses to such change