Constellium Nv Stock Earnings Reports

Constellium reported strong Q3 2025 results with shipments up 6% and revenue up 20% year-over-year, driven by higher shipments and higher revenue per ton. Adjusted EBITDA rose 85% to $235 million (or $196 million excluding a $39 million positive noncash metal-price-lag impact), marking a record third quarter. Net income was $88 million and free cash flow was $30 million in the quarter, with year-to-date free cash flow of $68 million. Leverage improved to 3.1x and is expected to be below 3.0x by year-end; the company remains committed to a 1.5–2.5x target range. Management repurchased $25 million of shares in Q3 and has ~$146 million remaining on the buyback program. The company raised its 2025 guidance to adjusted EBITDA (excluding metal price lag) of $670–690 million and free cash flow in excess of $120 million, and reiterated 2028 long-term targets of $900 million adjusted EBITDA and $300 million free cash flow. Management announced a planned leadership transition: CEO Jean-Marc Germain will retire December 31 and COO Ingrid Joerg will become CEO, with Jean-Marc staying on as an adviser in 2026. Key operational drivers: easing scrap spreads (expected to provide more benefit in Q4 and into 2026), improvement and recovery in Valais post-flood, continued strength in packaging and aerospace (value-added product mix and R&D differentiation), offset by ongoing weakness in automotive (especially Europe) and elevated working capital needs from higher metal prices. Tariff developments are described as a net positive overall, with direct exposure manageable and mitigation actions reflected in guidance.