Constellium's third quarter results show decreased shipments and revenue, with adjusted EBITDA impacted by external factors.

From GlobeNewswire: 2024-10-23 06:00:00

Constellium SE reported results for the third quarter of 2024. Shipments were down 5% to 352 thousand metric tons. Revenue decreased 5% to €1.6 billion. Net income was €3 million. Adjusted EBITDA was €110 million, including negative impacts from the flood and metal price lag. Cash from Operations was €86 million with Free Cash Flow at €(10) million. The company also repurchased 1.2 million shares for $21 million. For the first nine months of 2024, shipments were down 4% to 1.1 million metric tons. Revenue decreased by 8% to €5.2 billion. Net income was €91 million. Adjusted EBITDA was €461 million, including negative impacts from the flood and positive metal price lag impacts. Cash from Operations was €292 million with Free Cash Flow at €57 million. The company repurchased 3.1 million shares for $60.4 million, with leverage at 2.8x. CEO Jean-Marc Germain highlighted challenges faced during the quarter, including weak demand in various end markets and the impact of the flood. The company expects 2024 Adjusted EBITDA in the range of €580 million to €600 million. Market recovery delays Adjusted EBITDA target of over €800 million for 2025.



Read more at GlobeNewswire:: Constellium Reports Third Quarter 2024 Results