CSTM
Constellium SE18.51
+0.13+0.71%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Scrap tailwinds front-loaded in 2026
Q&A clarified 2026 guidance drivers, with scrap tailwinds akin to Q4's $40 million PARP boost locked in for Q1 but expected to taper, recouping 2024-2025 losses while averaging out long-term. Packaging growth and Muscle Shoals gains persist, auto benefits from rival fire extend through H1, yet European industrials remain weak. Vision 2028 details emphasize asset reliability, throughput maximization, and low-capex debottlenecking for packaging and aero. Management rebutted steel substitution fears head-on. Scrap benefits fade post-H1. Watch metal volatility and efficiency execution for 2028 path.
Key Stats
Market Cap
2.58BP/E (TTM)
23.14Basic EPS (TTM)
0.80Dividend Yield
0%Recent Filings
8-K
New $300M buyback authorized
Constellium's Board authorized a new $300 million share repurchase program on March 12, 2026, effective after the May 21 AGM and expiring December 31, 2028, replacing the February 2024 program. This supports their balanced capital allocation to return cash to shareholders via open market or private buys. Repurchases hinge on market conditions. Board can suspend anytime.
10-K
FY2025 results
Constellium posted strong FY2025 results with revenue up 15% y/y to $8.4B and net income tripling to $275M, fueled by higher shipments (1,495kt, +4% y/y) and metal prices; Q4 saw accelerated buybacks of 2.4M shares for $40M under its $300M program ($106M remaining). P&ARP drove gains with 21% revenue growth to $5.1B and Adjusted EBITDA up 46% to $353M on packaging strength and Muscle Shoals recovery, while A&T's EBITDA rose 16% to $339M despite aerospace destocking. Q4 momentum built from packaging resilience and U.S. scrap spreads, with $489M operating cash flow funding $311M capex. Liquidity stood at $866M; yet Valais flood impairments flagged ongoing risks.
8-K
Record Q4 EBITDA, strong guidance
Constellium crushed Q4 2025 with record Adjusted EBITDA of $280 million, up 124% year-over-year, driven by 11% shipment growth to 365k tons and strong P&ARP gains from Muscle Shoals efficiencies. Full-year revenue hit $8.4 billion, Free Cash Flow $178 million; repurchased 8.9 million shares for $115 million while cutting leverage to 2.5x. Vision 2028 launches for cost cuts. 2026 guides $780-820 million Adjusted EBITDA, over $200 million FCF.
8-K
CEO Succession Announced
Constellium SE announced on October 29, 2025, that Ingrid Joerg will succeed Jean-Marc Germain as CEO effective January 1, 2026, after his retirement. Joerg, current COO with over 25 years in aluminum, brings deep operational expertise across all business units. Germain stays on as special advisor through 2026 for a smooth handover. This planned shift bolsters continuity amid market uncertainties.
10-Q
Q3 FY2025 results
Constellium posted solid Q3 results, with revenue jumping 20% year-over-year to $2,166M on higher shipments and metal prices, while net income soared to $88M from $8M. All segments showed gains: A&T up 14% in revenue and 67% in Adjusted EBITDA to $90M, P&ARP up 20% to $1,307M with better Muscle Shoals output, and AS&I surging 27% to $409M. Operating cash flow for the nine months hit $271M, up from $240M, supporting $75M in share repurchases; total debt stood at $2,012M with $831M liquidity. Free cash flow not disclosed in the 10-Q. Packaging demand stayed healthy, yet automotive weakness in Europe lingers as a drag.
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