Constellium Lifts 2026 Guidance as Q2 Profit Triples on Higher Metal Prices

Constellium (CSTM) reported that its second-quarter net income more than tripled, driven by higher metal prices that compensated for a drop in shipment volumes. Following the strong results, the France-based aluminum products manufacturer raised its full-year 2026 guidance for adjusted EBITDA and free cash flow.

Quarterly Performance Highlights

Constellium announced that its revenue for the second quarter increased by 31% year-over-year to $2.75 billion. The company attributed the growth primarily to higher revenue per ton, which included the impact of increased metal prices. All of its operating segments posted stronger results.

The company's profitability saw a substantial surge during the period:

• Net Income: Reached $148 million, a more than threefold increase from the same quarter last year.
• Adjusted EBITDA: Also more than tripled to $439 million, benefiting from a favorable non-cash metal price lag impact.

Constellium's Aerospace & Transportation (A&T) and Packaging & Automotive Rolled Products (P&ARP) segments both achieved record quarterly adjusted EBITDA, according to the company's report.

Upgraded Full-Year Outlook

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Citing improved conditions in key end markets, including aerospace, transportation, and recycling, the company provided a more optimistic forecast for the remainder of the year. However, it also noted the persistence of ongoing macroeconomic volatility.

Constellium raised its full-year 2026 guidance as follows:

• Adjusted EBITDA: Lifted to a range of $980 million to $1.02 billion, excluding the impact of metal price lag.
• Free Cash Flow: Outlook increased to more than $300 million.

Capital Allocation

During the second quarter, Constellium generated $90 million in free cash flow. The company also returned capital to shareholders, repurchasing $20 million of its own shares.