Howmet Aerospace reported Fastening Systems revenue dropped 3% to $256 million in the final quarter of 2021 due to declines in the commercial aerospace market, primarily driven by Boeing 787 production declines, partly offset by growth in the commercial transportation market. 

Q4 segment operating profit totaled $48 million, with favorable sales volumes in the commercial transportation market and variable and fixed cost reductions offset by volume declines in the commercial aerospace market. Segment operating profit margin increased approximately 50 basis points year over year to 18.8%.

Full-year Fastening Systems revenue fell 16% to $1 billion, with segment operating profit totaling $190 million and segment operating profit margin dropping to 18.2%. Web: Howmet.com