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Investing.com -- Constellium SE (NYSE:CSTM) reported better-than-expected first quarter results on Tuesday, sending its shares up 3% in early trading. The aluminum products manufacturer posted adjusted earnings per share of €0.26, surpassing analyst estimates of €0.12, while revenue of €1.98 billion beat expectations of €1.79 billion.
The company’s Q1 revenue increased 5% YoY to $2.0 billion, driven by higher metal prices despite a 2% decline in shipments to 372,000 metric tons. Net income rose to $38 million from $22 million in the same quarter last year.
Adjusted EBITDA grew to $186 million from $146 million in Q1 2024, including a positive $46 million impact from non-cash metal price lag. However, results were negatively affected by a $10 million impact at the Valais facility due to flooding.
"Constellium delivered solid results in the first quarter despite continued demand weakness across most of our end markets outside of packaging and some lingering impacts from the flood last year at our Valais operations," said CEO Jean-Marc Germain.
The company maintained its 2025 guidance, expecting adjusted EBITDA between $600 million and $630 million, excluding metal price lag effects, and free cash flow above $120 million.
Constellium repurchased 1.4 million shares for $15 million during the quarter and ended with a leverage ratio of 3.3x.
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