Constellium raises 2026 adjusted EBITDA target to $980 million to $1.02 billion and free cash flow to more than $300 million

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Constellium raised its full-year 2026 outlook, now targeting adjusted EBITDA excluding metal price lag of $980 million to $1.02 billion and free cash flow in excess of $300 million. The company reported record second-quarter adjusted EBITDA of $439 million, including a $129 million non-cash metal price lag benefit, on revenue of $2.7 billion and net income of $148 million. Free cash flow was $90 million in the quarter, and the company repurchased 623,000 shares for $20 million, bringing year-to-date buybacks to 1.8 million shares for $48 million. Management said the revised guidance puts the company on track to achieve its 2028 targets two years ahead of schedule, supported by aerospace and transportation, industry, and defense improvement, favorable recycling economics, and North American automotive sheet tightness. Capital expenditures are expected to be approximately $330 million for the year, with cash interest of about $125 million and cash taxes of about $105 million.

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