SG&A Expense Trends: A Tale of Two Companies

In the ever-evolving aerospace and consulting sectors, Howmet Aerospace Inc. and Booz Allen Hamilton Holding Corporation have showcased distinct trends in their Selling, General, and Administrative (SG&A) expenses over the past decade. From 2014 to 2023, Booz Allen Hamilton's SG&A expenses surged by approximately 95%, peaking in 2023. This reflects the company's strategic investments in expanding its consulting services and adapting to market demands. In contrast, Howmet Aerospace experienced a more volatile trend, with a notable dip in 2020, likely due to industry disruptions. By 2023, their SG&A expenses had decreased by about 55% from their 2016 peak. This divergence highlights the contrasting strategies and market conditions faced by these industry giants. As we look to the future, understanding these trends offers valuable insights into the financial health and strategic priorities of these companies.