Constellium reported second-quarter 2026 revenue of $2.7 billion and adjusted EBITDA of $439 million, driven by favorable price/mix and positive metal price lag. Net income was $148 million for the quarter and diluted EPS was $1.04; the company raised 2026 adjusted EBITDA guidance to $980M–$1.02B (excluding metal price lag) and expects Free Cash Flow in excess of $300 million. Shipments were 381k metric tons in Q2 and leverage stood at 1.8x at June 30, 2026.

Financial Highlights

  • Revenue: $2,748 million for Q2 2026, up 31% year-over-year; $5,209 million year-to-date, up 28%.
  • Adjusted EBITDA: $439 million for Q2 2026 (includes $129 million positive non-cash metal price lag); $798 million for H1 2026 (includes $226 million metal price lag).
  • Net income: $148 million for Q2 2026; $344 million for H1 2026.
  • Diluted earnings per share: $1.04 for Q2 2026; diluted YTD EPS: $2.46 for six months.
  • Liquidity and leverage: cash and equivalents $163 million, available committed facilities $895 million (total liquidity $1,058 million); net debt $1,760 million and leverage 1.8x at June 30, 2026.

Business Highlights

  • Segment performance: record quarterly Segment Adjusted EBITDA across the group with A&T at $135 million, P&ARP at $165 million and AS&I at $26 million.
  • Aerospace & Transportation (A&T): shipments up 21% year-over-year in Q2 with improved aerospace and TID demand driving volume and mix improvements.
  • Packaging & Automotive Rolled Products (P&ARP): benefited from favorable price/mix and lower metal costs at Muscle Shoals and Neuf-Brisach; automotive rolled products benefited from North American supply shortages.
  • Automotive Structures & Industry (AS&I): stable shipments and improved margins driven by lower operating costs and favorable FX translation.
  • Capital allocation and corporate actions: repurchased 623k ordinary shares for $20 million in Q2 (1.8M shares for $48M in H1) and completed a $100 million partial redemption of 5.625% senior notes due 2028 in July.

Original SEC Filing:

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.