SG&A Efficiency: A Tale of Two Giants

In the competitive landscape of aerospace and aviation, understanding operational efficiency is crucial. Howmet Aerospace Inc. and Ryanair Holdings plc, two industry titans, offer a fascinating study in SG&A (Selling, General, and Administrative) expenses over the past decade. From 2014 to 2023, Howmet Aerospace's SG&A expenses fluctuated, peaking in 2016 and then declining significantly by 2020, reflecting a strategic shift or operational efficiency improvements. In contrast, Ryanair's SG&A expenses showed a steady upward trend, with a notable increase of over 250% from 2014 to 2023, indicating aggressive expansion or increased operational costs.

Interestingly, 2020 marked a pivotal year for both companies, with Howmet's expenses dropping to their lowest, while Ryanair's continued to rise. This divergence highlights differing strategic responses to global challenges. As we look to 2024, Ryanair's data remains robust, while Howmet's is yet to be revealed, leaving room for speculation on future strategies.