HWM — what changed in the latest 10-Q
A section-by-section comparison of HWM's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-06 vs the prior 10-Q · 2026-05-07
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +35 | −20 | ~18 | 22 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Market risk (Item 3), Legal proceedings, Other information
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-06
Sales. Sales were $2,547 in the second quarter of 2026 compared to $2,053 in the second quarter of 2025, and $4,860 in the six months ended June 30, 2026 compared to $3,995 in the six months ended June 30, 2025. The increase of $494, or 24%, in the second quarter of 2026 and the increase of $865, or…
Cost of goods sold (“COGS”). COGS as a percentage of Sales was 62.7% in the second quarter of 2026 compared to 66.5% in the second quarter of 2025 and 62.9% in the six months ended June 30, 2026 compared to 66.5% in the six months ended June 30, 2025. The decrease in the second quarter and six month…
Provision for depreciation and amortization (“D&A”). The provision for D&A was $84 in the second quarter of 2026 compared to $69 in the second quarter of 2025 and $158 in the six months ended June 30, 2026 compared to $138 in the six months ended June 30, 2025. The increase of $15, or 22%, in the se…
Restructuring and other credits. Restructuring and other charges were less than $1 in the second quarter of 2026 compared to Restructuring and other charges of less than $1 in the second quarter of 2025. Restructuring and other credits were $93 in the six months ended June 30, 2026 compared to Restr…
Provision for income taxes. The estimated annual effective tax rate, before discrete items, applied to ordinary income was 20.9% in the second quarter ended June 30, 2026 compared to 20.8% in the second quarter ended June 30, 2025. The tax rate including discrete items was 17.7% in the second quarte…
Text removed vs the prior filing · source: 10-Q · 2026-05-07
Sales. Sales were $2,313 in the first quarter of 2026 compared to $1,942 in the first quarter of 2025. The increase of $371, or 19%, in the first quarter of 2026 was primarily due to growth in the commercial aerospace, defense aerospace, and gas turbines markets, including engine spares, favorable p…
Cost of goods sold (“COGS”). COGS as a percentage of Sales was 63.1% in the first quarter of 2026 compared to 66.4% in the first quarter of 2025. The decrease in the first quarter of 2026 was primarily due to favorable product pricing and volume growth, partially offset by cost pass through and incr…
Restructuring and other credits. Restructuring and other credits were $93 in the first quarter of 2026 compared to Restructuring and other credits of $4 in the first quarter of 2025. Restructuring and other credits for the first quarter of 2026 were primarily due to a gain on the sale of the Company…
Provision for income taxes. The estimated annual effective tax rate, before discrete items, applied to ordinary income was 21.1% in the first quarter ended March 31, 2026 compared to 20.8% in the first quarter ended March 31, 2025. The tax rate including discrete items was 18.1% in the first quarter…
Segment Adjusted EBITDA for the Engine Products segment increased $140, or 44%, in the first quarter of 2026 compared to the first quarter of 2025, primarily due to growth in the commercial aerospace, defense aerospace, and gas turbines markets. The segment absorbed approximately 235 net headcount i…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice