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Constellium Q1 2025 Earnings Report
Constellium reported its first quarter 2025 results, showing increased revenue and net income, and maintained its full year 2025 guidance.
Key Takeaways
Constellium reported solid results for the first quarter of 2025, with revenue increasing by 5% to $2.0 billion and net income rising to $38 million from $22 million in Q1 2024. Adjusted EBITDA reached $186 million, driven by stronger performance in the P&ARP segment and a positive metal price lag impact, despite lower shipments in A&T and AS&I segments and lingering impacts from a flood at Valais operations.
Shipments decreased by 2% to 372 thousand metric tons compared to Q1 2024.
Revenue increased by 5% to $2.0 billion, primarily due to higher metal prices.
Net income rose to $38 million from $22 million in Q1 2024, an increase of $16 million.
Adjusted EBITDA was $186 million, including a positive non-cash metal price lag impact of $46 million.
Revenue by Segment
Forward Guidance
Constellium maintains its prior guidance for 2025, expecting Adjusted EBITDA to be in the range of $600 million to $630 million, excluding the non-cash impact of metal price lag, and Free Cash Flow in excess of $120 million. For 2028, the company expects Adjusted EBITDA of $900 million and Free Cash Flow of $300 million, excluding the non-cash impact of metal price lag.
Positive Outlook
- Maintaining 2025 Adjusted EBITDA guidance of $600 million to $630 million.
- Maintaining 2025 Free Cash Flow guidance in excess of $120 million.
- Confidence in achieving long-term target of Adjusted EBITDA of $900 million by 2028.
- Confidence in achieving long-term target of Free Cash Flow of $300 million by 2028.
- Assumption of a relatively stable overall macroeconomic and end market environment.
Challenges Ahead
- The tariff and international trade situation remains highly unpredictable.
- Inability to provide a reconciliation of Adjusted EBITDA guidance to net income due to unpredictable items.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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