Constellium Reports Q1 Revenue of $2.46B
Reports Q1 revenue $2.46B vs. $1.98B last year. "Constellium delivered strong results in the first quarter despite uncertainties on the macroeconomic and geopolitical fronts," said Ingrid Joerg, Constellium's Chief Executive Officer. "We achieved improved financial performance across all of our operating segments, including record quarterly Adjusted EBITDA. P&ARP delivered record quarterly Adjusted EBITDA, and A&T delivered record first quarter Adjusted EBITDA. During the quarter we benefited from current market dynamics, including supply shortages of automotive rolled products in North America, improved aerospace and TID environment, and favorable scrap and metal dynamics in North America. We generated Free Cash Flow of $5 million in the first quarter, and during the quarter we returned $28 million to shareholders through the repurchase of 1.2 million shares. We ended the quarter with leverage at 2.2x, within our target leverage range of 1.5x to 2.5x." Joerg continued, "While uncertainties persist on the macroeconomic and geopolitical fronts, we like our end market positioning and we are optimistic about our prospects for the remainder of this year and beyond. Based on our current outlook, we are raising our guidance for 2026 and now expect Adjusted EBITDA in the range of $900 million to $940 million, excluding the non-cash impact of metal price lag, and Free Cash Flow in excess of $275 million. We also remain confident in our ability to deliver on our 2028 targets1, which do not include the favorable scrap environment we are seeing today or the benefits we expect in 2026 from the current supply shortages of automotive rolled products in North America. Our focus remains on executing on our strategy, driving operational performance, controlling costs, generating Free Cash Flow and increasing shareholder value."
