Howmet Aerospace Inc. (HWM) CEO John Plant on Q1 2022 Results - Earnings Call Transcript

Howmet Aerospace Inc. (NYSE:HWM) Q1 2022 Results Conference Call May 3, 2022 10:00 AM ET

Company Participants

Paul Luther - Vice President of Investor Relations

John Plant - Executive Chairman and Chief Executive Officer

Kenneth Giacobbe - Executive Vice President and Chief Financial Officer

Conference Call Participants

Robert Stallard - Vertical Research

Seth Seifman - JPMorgan Chase & Co

Myles Walton - UBS Investment Bank

David Strauss - Barclays Bank PLC

Kristine Liwag - Morgan Stanley

Gautam Khanna - Cowen and Company

Robert Spingarn - Melius Research

Noah Poponak - Goldman Sachs

Matthew Akers - Wells Fargo Securities

Philip Gibbs - KeyBanc Capital Markets

Operator

Good morning, ladies and gentlemen, and welcome to the Howmet Aerospace First Quarter 2022 Results Conference Call. My name is Eli, and I will be your operator for today. As a reminder, today's conference is being recorded for replay purposes.

I would now like to turn the conference over to your host for today, Paul Luther, Vice President of Investor Relations. Please proceed, sir.

Paul Luther

Thank you, Eli. Good morning, and welcome to the Howmet Aerospace First Quarter 2022 Results Conference Call. I'm joined by John Plant, Executive Chairman and Chief Executive Officer; and Ken Giacobbe, Executive Vice President and Chief Financial Officer. After comments by John and Ken, we will have a question-and-answer session.

I would like to remind you that today's discussion will contain Forward-Looking Statements relating to future events and expectations. You can find factors that could cause the Company's actual results to differ materially from these projections listed in today's presentation and earnings press release and in our most recent SEC filings.

In addition, we have included some non-GAAP financial measures in our discussion. Reconciliations to the most directly comparable GAAP financial measures can be found in today's press release and in the appendix in today's presentation.

I would also like to point out that starting this quarter, we are moving our segment profitability measure from segment operating profit to segment adjusted EBITDA. We will use this measure to assess the segment's performance going forward.

We will continue to provide depreciation and amortization by segment, giving investors the ability to continue to calculate segment operating profit. EBITDA for previous period segment profitability are included for comparison purposes. You can find these numbers in our earnings press release and on Slides 19 and 20 in today's presentation deck.