Howmet Aerospace

Howmet has demonstrated the ability to pass on costs through higher pricing in a strong demand environment. Management cited “favourable product pricing” as a key driver of 2024 revenue growth. The company also reports structural backlog protection, allowing price increases for performance parts.

Reuters notes that even with U.S. tariffs, Howmet expects to “pass on higher costs” and has contract provisions to protect pricing. Profit margins have expanded consistently (operating margins rose to ~22%) even as volumes increase, indicating pricing power. Thus we rate it as having good pricing power (≈75) for a manufacturing business.