What Howmet Aerospace Inc. told the SEC could break it.

RTX Corporation and GE Aerospace each represented ~11% of Howmet's third-party sales in 2025 (primarily jet engine components), and ~70% of total revenue came from commercial/defense aerospace markets — concentrating results in two engine-maker customers and in aerospace OEM build rates.

“RTX Corporation and GE Aerospace each represented approximately 11 % of the Company's third-party sales for the year ended December 31, 2025.”

Approximately 70% of Howmet's revenue came from products sold to commercial and defense aerospace markets in 2025; the timing and level of future aircraft builds by OEMs are subject to change and uncertainty, which may cause results to differ from prior periods.

“The Company derived approximately 70% of its revenue from products sold to the commercial and defense aerospace markets for the year ended December 31, 2025. The timing and level of future aircraft builds by original equipment manufacturers are subject to changes and uncertainties”

For certain raw materials and services Howmet depends on a number of limited-source or sole-source suppliers — such as for titanium sponge and specialized metal alloys; supply constraints could impair production or force purchases from alternative sources that may not be available in sufficient quantities or at favorable prices.

“For certain raw materials and services, we depend on a number of limited source or sole source suppliers, such as for titanium sponge and specialized metal alloys. Supply constraints could impact our production or force us to purchase materials and other supplies from alternative sources”

Howmet has operations in numerous countries (Europe, Mexico, China, Japan), exposing it to economic/political/legal instability, and the timing, extent and level of tariffs by various governments — and its ability to recover tariffs — are subject to changes and uncertainties, alongside FX/inflation effects.

“The timing, extent, application, and level of tariffs by various governments and our ability to recover tariffs are subject to changes and uncertainties.”