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Howmet Aerospace (HWM) delivered robust Q2 2026 results with adjusted EBITDA surging 39% to $817 million and margins expanding 340 bps to 32.1%, driven by strong aerospace and gas turbine demand. The company raised its 2026 revenue guidance to $10.0-$10.1 billion and expects adjusted EBITDA margins of 32.1-32.2%. Peers Textron and RTX showed mixed margin performance, with RTX benefiting from aerospace deliveries while Textron faced margin pressure.

Red Cat Holdings (RCAT) expects gross margins to reach ~30% by end-2026 as its Blue Ops maritime division scales production of Variant 7 uncrewed surface vessels (USVs). Blue Ops moved into mass production in Q2 2026 and could achieve profitability by year-end. However, RCAT faces intensifying competition from established players like Huntington Ingalls and Textron, with the stock down 24.9% in the past month and holding a Zacks Rank #4 (Sell) rating.