Constellium SE Q3 2026 Earnings Recap

Constellium’s shares were roughly flat after earnings, down 0.5%. The quarter delivered record adjusted EBITDA and the company raised its full-year outlook, while shipments were lower in PARP and AS&I and higher costs weighed on A&T.

Key Takeaways

• Adjusted EBITDA was $276 million, up 17% year over year; excluding a $4 million negative metal-price-lag impact, it was a third-quarter record $280 million, up 43%.
• Shipments were 368,000 tons. Higher A&T shipments were offset by lower shipments in PARP and AS&I versus a year earlier.
• A&T adjusted EBITDA rose 13% to a third-quarter record $102 million. Aerospace shipments increased 10% and TID shipments 24%; costs were a $40 million headwind.
• PARP adjusted EBITDA increased 98% to a third-quarter record $162 million, though volume was a $7 million headwind.
• Free cash flow was $128 million; leverage ended the quarter at 1.6x. The company returned $30 million through repurchases of 1 million shares and raised its full-year outlook.