Feb. 20 at 11:44 AM
$CSTM Constellium reports Q4 revenue
$1.72B, consensus
$1.61B
Reports Q4 adjusted EBITDA
$125M. CEO Jean-Marc Germain said, "2024 was a very challenging year for Constellium on many fronts, from the extreme cold weather and snow impacting operations at Muscle Shoals in January, to the severe flooding event at our facilities in the Valais region in Switzerland during the summer, to market-driven headwinds unfolding throughout the year including demand weakness across most of our end markets and tightening scrap spreads in North America...
On the positive front, I am pleased that we started up our new recycling and casting center in Neuf-Brisach in September, slightly ahead of schedule and below budget, and we returned
$79M to shareholders through the repurchase of 4.6 million shares of Company stock during the year. I am also excited about our recent announcement to shift our reporting to U.S. dollars under U.S. GAAP, and to begin filing our SEC reports on U.S. domestic issuer forms.
Looking ahead to 2025, we expect global economic conditions to remain challenging to start the year....Based on our current outlook, we expect Adjusted EBITDA to be in the range of
$600M-
$630M, excluding the non-cash impact of metal price lag, and Free Cash Flow in excess of
$120M in 2025. I am also pleased to announce new long-term targets today. For 2028, we expect to achieve Adjusted EBITDA of
$900M, excluding the non-cash impact of metal price lag, and Free Cash Flow of
$300M. While the tariff and international trade situation remains fluid, our current outlook does not include any potential impacts."
