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PARIS - Constellium SE (NYSE:CSTM) reported fourth quarter earnings and revenue that fell short of analyst expectations, sending shares down -0.55% in pre-market trading on Thursday.
The aluminum products manufacturer posted a net loss of $47 million, or $0.34 per share, in Q4 2024, compared to net income of $5 million, or $0.02 per share, in the same period last year. Analysts had expected earnings of $0.11 per share.
Revenue declined 1% year-over-year to $1.72 billion, below the consensus estimate of $1.81 billion.
Constellium attributed the weaker results to lower shipments and unfavorable price and mix across its segments. The company was also impacted by a $15 million hit to adjusted EBITDA from flooding at its Valais facilities in Switzerland.
"2024 was a very challenging year for Constellium on many fronts," said CEO Jean-Marc Germain, citing weather impacts, flooding, and market headwinds including demand weakness and tighter scrap spreads.
For the full year 2024, Constellium reported net income of $60 million on revenue of $7.3 billion, down from net income of $157 million on revenue of $7.8 billion in 2023.
Looking ahead, the company expects adjusted EBITDA of $600-630 million in 2025, excluding metal price lag impacts. Constellium also set new long-term targets, aiming for adjusted EBITDA of $900 million by 2028.
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