With a degree in Finance and Accounting and previous experience in financial advisory, I use The Sharpe Quest to share my path as an independent investor and market analyst. My approach mixes long-term conviction holdings with tactical sector rotations, driven by the belief that investing isn’t about being right, it’s about making money. I focus on undercovered opportunities and momentum-driven sectors. All views are my own and not financial advice.Analyst’s Disclosure: I/we have no stock, option or similar ...

U.S. stocks might be off to a volatile start in 2026, but European markets continue to soar despite the constant threat of tariffs from the Trump administration.Europe's largest equity market index, the STOXX 600, is up more than 4% year-to-date (YTD), compared with the S&P 500’s flat performance. With European governments opening their wallets and anticipating economic growth, we could be headed for another year in which U.S. stocks lag their counterparts across the Atlantic.Today, we'll look at five Europ ...

Core Viewpoint - Constellium SE will announce its fourth quarter and full year 2025 results during a conference call on February 18, 2026, at 10:00 AM Eastern Time [1] Group 1: Conference Call Details - The conference call will be hosted by CEO Ingrid Joerg and CFO Jack Guo [1] - Details for the conference call, webcast, and accompanying presentation will be available on the Constellium Investor Relations page [2] - An archived recording of the conference call will be accessible for three weeks on the company’s website [2] Group 2: Company Overview - Constellium is a global leader in developing innovative, value-added aluminum products for various markets, including aerospace, packaging, and automotive [3] - The company generated $7.3 billion in revenue in 2024 [3]

Group 1 - Constellium (NYSE:CSTM) is identified as a cheap stock with potential for growth over the next three years, with Deutsche Bank raising its price target from $22 to $25 while maintaining a Hold rating [1][3] - In Q3 2025, Constellium reported a 20% year-over-year revenue increase to $2.2 billion, with net income rising to $88 million from $8 million in the same period last year [3] - Total shipments increased by 6% to 373,000 metric tons, attributed to operational improvements at the Muscle Shoals facility and strong demand in the packaging sector [3] Group 2 - CEO Jean-Marc Germain indicated that while scrap spreads had been a challenge year-to-date, they are beginning to widen, potentially impacting financial performance by $15 million to $20 million per quarter [2] - The company anticipates that the widening scrap spreads will provide a positive impact in Q4 and throughout 2026, despite not fully benefiting in Q3 due to staggered purchasing agreements [2] Group 3 - Constellium designs, manufactures, and sells rolled and extruded aluminum products for various end-markets, including aerospace, packaging, automotive, commercial transportation, general industrial, and defense [4]

Core Insights - U.S. stock futures are lower, with Nasdaq 100 futures down approximately 150 points [1] Group 1: Oxford Industries, Inc. - Oxford Industries reported a quarterly loss of 92 cents per share, which was better than the analyst consensus estimate of a loss of 95 cents per share [2] - The company reported quarterly sales of $307.344 million, exceeding the analyst consensus estimate of $304.642 million [2] - Shares of Oxford Industries fell 25.6% to $30.17 in pre-market trading following the earnings report and lowered guidance [2] Group 2: Other Stocks - CapsoVision Inc shares dropped 16.6% to $9.86 in pre-market trading after a previous gain of 33% [3] - Ur-Energy Inc fell 12.1% to $1.20 after announcing a $100 million offering of 4.75% convertible senior notes due 2031 [3] - Oracle Corporation shares dipped 11.3% to $197.70 after posting mixed second-quarter financial results for fiscal 2026 [3] - T1 Energy Inc. fell 10.8% to $5.50 after announcing proposed offerings of $120 million in convertible senior notes and $140 million in common stock [3] - Rezolute Inc dropped 5.8% to $10.30 after announcing Phase 3 study results [3] - NovaBay Pharmaceuticals Inc declined 5.8% to $2.28 after a previous jump of 34% [3] - Constellium SE fell 3% to $17.62 after gaining 4% [3]

PARIS, Dec. 03, 2025 (GLOBE NEWSWIRE) -- Constellium SE (NYSE: CSTM) today announced the successful start-up and inauguration of its new finishing lines at its Singen plant in Germany. This milestone marks the completion of the €30 million investment announced in 2024 in partnership with Lotte Infracell, a subsidiary of Lotte Aluminium, to supply high-quality aluminum foilstock for battery applications in Europe. The project was executed safely, on schedule and on budget. Construction of the new building wa ...

Core Viewpoint - Constellium (CSTM) is recommended as a Buy due to its transition from a cyclical, highly leveraged phase to a stronger, cash-generating profile, supported by aerospace recovery, resilient packaging demand, and a more normalized cost environment [1] Group 1: Company Transition - The company is moving away from its historical, cyclical, and highly leveraged phase [1] - Constellium is expected to benefit from an aerospace recovery and resilient demand in packaging [1] - The cost environment is becoming more normalized, which supports the company's transition [1] Group 2: Financial Performance - EBITDA is already showing signs of inflection, indicating improved financial performance [1]

Core Insights - Constellium SE is a significant player in the metal products distribution industry, particularly in aluminum production, with strong market presence in aerospace, automotive, and packaging sectors [1] Financial Performance - The company reported earnings per share (EPS) of $0.627, exceeding the estimated $0.315, resulting in an earnings surprise of 67.57% [2] - Revenue for the third quarter reached approximately $2.166 billion, surpassing the estimated $1.788 billion, representing a 2.87% beat over the Zacks Consensus Estimate [3] - Adjusted EBITDA was reported at $235 million, with contributions from Aerospace & Transportation ($90 million) and Packaging & Automotive Rolled Products ($82 million) [4][6] Strategic Initiatives - The company repurchased 1.7 million shares for $25 million, indicating a commitment to enhancing shareholder value [5] - Financial metrics include a P/E ratio of 49.46, a debt-to-equity ratio of 2.60, and a current ratio of 1.23, reflecting its valuation and financial structure [5]

Revenue and Sales Performance - Revenue for Q3 2025 increased by 20% to $2,166 million compared to $1,802 million in Q3 2024, driven by higher shipments and revenue per ton [121]. - Sales volumes for Q3 2025 rose by 6% to 373 kt from 352 kt in Q3 2024, with a 4% increase in A&T, 5% in P&ARP, and 14% in AS&I [121]. - For the three months ended September 30, 2025, total revenue increased 20% to $2,166 million from $1,802 million for the same period in 2024 [139]. - For the nine months ended September 30, 2025, revenue increased by 11% to $6,248 million from $5,614 million in the same period of 2024 [122]. - For the three months ended September 30, 2025, revenue in the AS&I segment increased 27% to $409 million from $323 million for the same period in 2024 [144]. Cost and Expenses - Cost of sales for Q3 2025 increased by 16% to $1,852 million from $1,597 million in Q3 2024, primarily due to a 21% rise in raw materials and consumables [125]. - Selling and administrative expenses for Q3 2025 rose by 29% to $85 million from $66 million in Q3 2024, driven by increased labor costs [127]. - Research and development expenses for Q3 2025 increased by 9% to $12 million from $11 million in Q3 2024, primarily due to foreign exchange translation impacts [129]. - For the nine months ended September 30, 2025, research and development expenses decreased 5% to $37 million from $39 million for the same period in 2024 [130]. Profitability and Income - Net income for Q3 2025 was $88 million, up from $8 million in Q3 2024, reflecting improved operational performance [120]. - For the nine months ended September 30, 2025, Adjusted EBITDA was $566 million, compared to $498 million for the same period in 2024 [182]. - For the three months ended September 30, 2025, Adjusted EBITDA in the A&T segment increased 67% to $90 million from $54 million for the same period in 2024 [150]. - For the nine months ended September 30, 2025, Adjusted EBITDA in the P&ARP segment increased 17% to $217 million from $186 million for the same period in 2024 [153]. - For the nine months ended September 30, 2025, Adjusted EBITDA in the AS&I segment decreased by 4% to $67 million from $70 million for the same period in 2024 [156]. Taxation - For the nine months ended September 30, 2025, income tax expense was $82 million compared to $46 million for the same period in 2024 [137]. - The effective tax rate for the three months ended September 30, 2025 was 30.2%, down from 57.9% for the same period in 2024 [137]. Share Repurchase and Capital Management - The company repurchased 1.7 million shares for $25 million during the third quarter [104]. - During the nine months ended September 30, 2025, the company repurchased 6.5 million shares for $75 million [172]. - Total liquidity at September 30, 2025, was $831 million, comprised of $122 million in cash and cash equivalents and $471 million of availability under the Pan-U.S. ABL facility [164]. Cash Flow and Capital Expenditures - Net cash flows from operating activities for the nine months ended September 30, 2025, were $271 million, a $31 million increase from $240 million in the same period in 2024 [167]. - Capital expenditures for the nine months ended September 30, 2025, were $203 million, compared to $255 million for the same period in 2024 [170]. Other Financial Impacts - The company experienced a $10 million negative impact from flooding in Valais, Switzerland, during the nine months ended September 30, 2024 [156]. - For the nine months ended September 30, 2025, the company reported $9 million in insurance proceeds and $8 million in clean-up costs due to flooding in Valais, Switzerland [184]. - For the nine months ended September 30, 2024, the company incurred $6 million in inventory impairment and $4 million in costs related to non-recurring corporate transformation projects [184]. - The company recognized a $2 million gain from acquiring non-controlling interests in Railtech Alu-Singen during the nine months ended September 30, 2024 [184]. - Metal price lag represents a non-cash financial impact due to timing differences between aluminum prices in revenue and purchase prices in cost of sales [184]. - The calculation of metal price lag is based on a standardized methodology applied at each manufacturing site, reflecting the average value of products purchased and inventory [184]. Demand Outlook - The company expects demand trends to remain stable through the remainder of 2025, benefiting from improved scrap spreads in North America [104]. Working Capital Changes - Changes in working capital for the nine months ended September 30, 2025, included an increase in inventory of $109 million and an increase in trade receivables of $280 million [168].

Core Insights - Constellium reported strong third-quarter results for 2025, with record adjusted EBITDA and a significant increase in net income compared to the previous year [8][10][36] - The company announced a leadership transition, with Ingrid Jorg set to succeed Jean-Marc Germain as CEO at the end of December 2025 [5][6][27] - The company is raising its guidance for 2025, targeting adjusted EBITDA in the range of $670 million to $690 million and free cash flow of $120 million [37] Financial Performance - Shipments increased by 6% year-over-year to 373,000 tons, contributing to a 20% rise in revenue to $2.2 billion [8][10] - Net income for the quarter was $88 million, up from $8 million in the same quarter last year, driven by higher gross profit [9][10] - Adjusted EBITDA reached $235 million, an 85% increase year-over-year, with a record adjusted EBITDA of $196 million when excluding the impact of metal price lag [9][10] Leadership Transition - Jean-Marc Germain will retire as CEO and Board Director on December 31, 2025, after nearly ten years with the company [5][6] - Ingrid Jorg, with over 25 years of experience in the aluminum industry, will take over as CEO and has been instrumental in developing the company's strategy [6][27] Market Outlook - The aerospace market shows strong demand, with commercial aircraft backlogs at record levels and major OEMs increasing build rates [28][29] - The packaging market remains healthy, with demand for aluminum beverage cans driving growth in North America and Europe [30] - The automotive market is facing challenges, particularly in Europe, with production levels below pre-COVID levels and ongoing impacts from tariffs [31][32] Cost Management and Tariffs - The company operates a pass-through business model, minimizing exposure to metal price risks, and has made progress in mitigating tariff impacts [10][12] - Current tariff exposure is manageable, with indirect benefits from tariffs including improved domestic demand for aluminum products [12][36] - The company is focused on cost control and has accelerated its Vision '25 cost improvement program in response to market conditions [22][36] Free Cash Flow and Shareholder Returns - Free cash flow for the quarter was $30 million, with a year-to-date total of $68 million, and the company plans to continue share repurchase activities [10][24] - The company repurchased 1.7 million shares for $25 million during the quarter, with approximately $146 million remaining on its share repurchase program [24][25]