Constellium(CSTM) - 2025 Q3 - Quarterly Results

Financial Performance - Shipments of 373 thousand metric tons in Q3 2025 increased by 6% compared to Q3 2024[6] - Revenue for Q3 2025 reached $2.2 billion, up 20% from Q3 2024[6] - Net income for Q3 2025 was $88 million, a significant increase from $8 million in Q3 2024[6] - Adjusted EBITDA for Q3 2025 was $235 million, an 85% increase compared to $127 million in Q3 2024[6] - For the first nine months of 2025, shipments totaled 1.1 million metric tons, up 2% from the same period in 2024[10] - Revenue for the first nine months of 2025 was $6.2 billion, an 11% increase compared to the first nine months of 2024[10] - For Q3 2025, net income was $88 million, a significant increase from $8 million in Q3 2024, driven by higher gross profit and favorable changes in other gains and losses[24] - For the first nine months of 2025, net income reached $162 million, compared to $107 million in the same period of 2024, attributed to higher gross profit and favorable changes in other gains and losses[25] - Total revenue for the nine months ended September 30, 2025, reached $6.248 billion, up from $5.614 billion in the same period of 2024, reflecting an increase of 11.3%[52] Cash Flow and Liquidity - Free Cash Flow for Q3 2025 was $30 million, with year-to-date Free Cash Flow exceeding $120 million[7] - Free Cash Flow for the first nine months of 2025 was $68 million, a turnaround from $(15) million in the prior year, primarily due to higher Segment Adjusted EBITDA and lower capital expenditures[26] - Cash flows from operating activities were $271 million for the first nine months of 2025, up from $240 million in the same period of 2024[27] - Liquidity as of September 30, 2025, was $831 million, consisting of $122 million in cash and cash equivalents and $709 million available under committed lending facilities[29] - The company expects Adjusted EBITDA for 2025 to be in the range of $670 million to $690 million, with Free Cash Flow projected to exceed $120 million[30] Segment Performance - Segment Adjusted EBITDA for Aerospace & Transportation (A&T) was $90 million in Q3 2025, a 67% increase from Q3 2024[11] - Segment Adjusted EBITDA for Packaging & Automotive Rolled Products (P&ARP) was $82 million in Q3 2025, a 14% increase from Q3 2024[13] Shareholder Actions - The company repurchased 6.5 million shares for $75 million in the first nine months of 2025, compared to 3.1 million shares for $60 million in the same period of 2024[28] Debt and Assets - Net debt increased to $1.891 billion as of September 30, 2025, compared to $1.776 billion at the end of 2024[29] - Total assets increased to $5.375 billion as of September 30, 2025, up from $4.734 billion at the end of 2024, a growth of 13.6%[49] - The company reported a total current liability of $1.842 billion as of September 30, 2025, compared to $1.446 billion at the end of 2024, an increase of 27.4%[49] - Long-term debt increased to $1.974 billion as of September 30, 2025, compared to $1.879 billion at the end of 2024, a rise of 5.1%[49] - The company’s retained earnings increased to $307 million as of September 30, 2025, up from $203 million at the end of 2024, reflecting a growth of 51.7%[49] Strategic Actions - Constellium completed the divestment of its Nanjing Automotive Structures plant in August 2025, enhancing its strategic focus[32]