Constellium Beats Q3 Expectations and Raises Its 2026 Outlook
As seen on the 24/7 Wall St. homepage on October 28, 2026.
Management raised full-year adjusted EBITDA guidance to $1.03 billion to $1.06 billion after a fifth straight quarterly beat. Aerospace and packaging demand, plus a North American auto sheet supply squeeze, are driving the gains at this $3.3 billion market cap aluminum maker.
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Constellium posted Q3 2026 revenue of $2.64 billion, beating expectations, with earnings per share of $0.84 also topping expectations. The revenue beat was driven by a surge in revenue per ton and elevated metal prices, even as total shipments dipped 1% to 368 thousand metric tons.
The standout performer was the Packaging and Automotive Rolled Products segment, where Adjusted EBITDA nearly doubled year over year on favorable price and mix dynamics at the Muscle Shoals and Neuf-Brisach facilities. The Aerospace and Transportation segment also delivered 38% revenue growth, lifted by an improving aerospace and defense environment and higher shipments. Automotive Structures and Industry was the lone soft spot, with revenue slipping 2% on lower shipments and the absence of a prior-year customer compensation item.
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Net income rose to $119 million from $88 million a year earlier, and the company repurchased shares and retired debt during the quarter, pulling net leverage to 1.6 times. Management raised full-year 2026 Adjusted EBITDA guidance and now expects free cash flow to exceed $300 million for the year.
This marks the fifth consecutive quarter of beating estimates, supported by structural tailwinds. Supply shortages of automotive rolled products in North America and record aerospace OEM backlogs continue to work in Constellium's favor, and new capacity investments in Issoire and Muscle Shoals are on track to begin commercial shipments in 2027, adding earnings power beyond the current guidance window.
Mentioned: CSTM