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Constellium SE - CSTM STOCK NEWS

Welcome to our dedicated page for Constellium SE news (Ticker: CSTM), a resource for investors and traders seeking the latest updates and insights on Constellium SE stock.

Constellium SE (Symbol: CSTM) is a global leader in the design and manufacture of high-quality rolled and extruded aluminum products. With over 10,000 employees, we leverage our expert teams, world-class R&D center, and outstanding facilities to serve a broad range of markets, including aerospace, automotive, and packaging. Our commitment to innovation and sustainability helps us create value-added and recyclable aluminum solutions that meet the evolving needs of our customers.

Our business is organized into three primary segments:

  • Packaging and Automotive Rolled Products (P&ARP): This segment focuses on producing rolled aluminum products at our European and North American facilities, catering to the packaging and automotive markets.
  • Aerospace and Transportation (A&T): We manufacture rolled aluminum products and a limited volume of extruded products for the aerospace and transportation sectors, utilizing our facilities in Europe and North America.
  • Automotive Structures and Industry (AS&I): This segment is dedicated to the production of extruded aluminum products and aluminum structural components, primarily for the automotive and industrial markets.

In 2023, Constellium generated strong financial results with a record Adjusted EBITDA of €713 million and Free Cash Flow of €170 million, despite facing inflationary pressures and market headwinds. Our CEO, Jean-Marc Germain, acknowledged the dedication of our 12,000 employees and expressed confidence in our future prospects. We anticipate continued growth in our key markets, supported by a share repurchase program of up to $300 million and targeted Adjusted EBITDA of over €800 million by 2025.

Our latest news includes the announcement of a solid financial performance for the fourth quarter and full year ended December 31, 2023. We remain focused on executing our strategy, enhancing shareholder value, and navigating the challenges of inflationary pressures and market softness in certain segments.

For more detailed financial information and updates, please refer to our latest consolidated statements and non-GAAP measures.

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Constellium (NYSE: CSTM) has announced the successful completion of its ALIVE project, focused on developing lightweight aluminium battery enclosures for electric vehicles. The £15m collaborative research project, led by Constellium's University Technology Center at Brunel University London, achieved weight savings of 12% to 35% compared to existing designs while meeting performance targets.

The project involved six industrial partners and two university technology partners, utilizing Constellium's high-strength alloys and various joining and forming technologies. Full-scale prototypes were built and tested, demonstrating superior performance in crash tests, vibration, and fire resistance. The team also developed cost models and conducted a life cycle assessment, validating the benefits of aluminium solutions over steel designs.

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Constellium SE (NYSE: CSTM) has announced the appointment of Bradley L. Soultz as Special Advisor to the Board of Directors, effective September 2024. The Board plans to nominate Soultz as a Non-Executive Director at the 2025 Annual General Meeting. Soultz brings extensive leadership experience, currently serving as CEO of WillScot Mobile Mini (Nasdaq: WSC) since 2020. His background includes roles as President and CEO of WillScot and Williams Scotsman, as well as nine years at Novelis, where he was Chief Commercial and Strategy Officer. Soultz, a U.S. national with experience in both Europe and North America, holds a Bachelor of Science in Agricultural Engineering from Purdue University.

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Constellium SE (NYSE: CSTM) has priced a private offering of €300 million euro-denominated and $350 million U.S. dollar-denominated senior unsecured notes due 2032. The Euro Notes will bear interest at 5.375% per annum, while the USD Notes will bear interest at 6.375% per annum. The Notes Offering is expected to close on August 8, 2024. Constellium plans to use the net proceeds, along with cash on hand, to redeem all outstanding 5.875% Senior Notes due 2026 and 4.250% Senior Notes due 2026. The redemption date is set for August 26, 2024, at 100.000% of the aggregate principal amount plus accrued interest.

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Constellium SE (NYSE: CSTM) has announced a proposed private offering of approximately €300 million of euro denominated senior unsecured notes and $350 million of U.S. dollar denominated senior unsecured notes, both due 2032. The company plans to use the net proceeds, along with cash on hand, to redeem all of its outstanding 5.875% Senior Notes due 2026 and 4.250% Senior Notes due 2026. The new notes will be offered to qualified institutional buyers in the U.S. under Rule 144A and outside the U.S. under Regulation S. This offering is subject to market conditions and there is no guarantee of completion. The notes are not intended for retail investors in the EEA or UK.

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Constellium's (NYSE: CSTM) Muscle Shoals facility in Alabama has been awarded a $23 million grant from the U.S. Department of Defense (DoD) to rebuild its Direct Chill aluminium casting center. The funding, provided under the Defense Production Act, will be used to install state-of-the-art casting equipment, potentially adding up to 300 million pounds of annual casting capacity.

This investment aims to increase recycled input, reduce primary metal use, and provide an additional domestic source of aluminium rolling ingot for the U.S. industrial base. The expansion is expected to help meet growing demand for flat rolled aluminium products across multiple industries, including defense, aerospace, automotive, and packaging.

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Constellium SE (NYSE: CSTM) reported Q2 2024 results with shipments down 5% to 378k metric tons and revenue down 8% to €1.8 billion compared to Q2 2023. Net income increased to €71 million from €32 million in Q2 2023. Adjusted EBITDA rose to €214 million, including a €42 million non-cash metal price lag impact.

For H1 2024, shipments decreased 4% to 758k metric tons, revenue fell 10% to €3.5 billion, and net income increased to €88 million from €54 million in H1 2023. The company faced challenges including weaker market conditions and severe flooding in Switzerland, leading to a pause in 2024 guidance. Despite near-term challenges, Constellium remains confident in achieving its 2025 Adjusted EBITDA target of over €800 million, excluding metal price lag impact.

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Constellium SE (NYSE: CSTM) has signed a long-term agreement with Lotte Infracell to supply foilstock for battery applications in Europe. This partnership underscores Constellium's commitment to the growing electric vehicle (EV) market. With Lotte Infracell's financial support, Constellium plans to invest €30 million in new finishing lines at its Singen facility in Germany, enhancing production capacity and creating 20 new jobs.

The investment aims to strengthen Constellium Singen's position in the aluminium automotive specialties market. Aluminium's properties, including lighter weight, conductivity, and chemical stability, make it advantageous for large-scale production of EV batteries. This collaboration ensures a reliable supply of high-quality foilstock for Lotte's battery applications, supporting the rapid growth of the EV market in Europe.

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Constellium SE (NYSE: CSTM) has announced it will release its second quarter 2024 results on Tuesday, July 23, 2024. The company will host a conference call and webcast at 09:00 AM Eastern Time to discuss the results. The press release will be issued before the market opens.

The conference call will be led by Jean-Marc Germain, CEO, and Jack Guo, Senior VP and CFO. Investors can access the webcast live at a provided link, and dial-in numbers for various countries are available for those wishing to participate by telephone. An archived recording of the call will be accessible on the company's website for three weeks following the event.

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Constellium SE (NYSE: CSTM) has successfully completed its first industrial-scale hydrogen casting at its primary R&D center, C-TEC. The casting was performed in a 12-ton furnace using strict internal procedures and quality monitoring, including Batscan™ technology. No quality impact from hydrogen combustion on the metal was observed.

The 12-ton aluminium slab produced will be processed at Constellium's Neuf-Brisach site in France for use in electric vehicles. This milestone is part of Constellium's efforts to decarbonize its industrial activities by exploring hydrogen as a substitute for natural gas. The company is also involved in various projects, including the EU-funded HyInHeat initiative, and is exploring alternative decarbonization technologies such as direct electrification solutions.

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Constellium (NYSE: CSTM) announced that its facilities in Sierre and Chippis, Switzerland, have been affected by severe flooding from the Rhone River, leading to a complete suspension of operations. Fortunately, all employees are safe. Cleaning operations have commenced with local authority support, but the extent of the damage and the timeline for resuming production remain uncertain. Constellium is working with customers and suppliers to mitigate the impact and optimize capacity across its operations. The company will provide further updates as more details emerge.

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FAQ

What is the current stock price of Constellium SE (CSTM)?

The current stock price of Constellium SE (CSTM) is $12.48 as of December 2, 2024.

What is the market cap of Constellium SE (CSTM)?

The market cap of Constellium SE (CSTM) is approximately 1.8B.

What does Constellium SE do?

Constellium SE designs and manufactures rolled and extruded aluminum products for various markets, including aerospace, automotive, and packaging.

How many employees does Constellium have?

Constellium employs over 12,000 people globally.

What are the main segments of Constellium's business?

Constellium's business is divided into three segments: Packaging & Automotive Rolled Products, Aerospace & Transportation, and Automotive Structures & Industry.

What were Constellium's financial results for 2023?

In 2023, Constellium achieved a record Adjusted EBITDA of €713 million and generated Free Cash Flow of €170 million.

What is Constellium's strategy for future growth?

Constellium plans to increase shareholder value through strategic initiatives, a share repurchase program, and targeted Adjusted EBITDA of over €800 million by 2025.

How does Constellium address sustainability?

Constellium focuses on creating value-added, recyclable aluminum solutions that meet the evolving needs of its customers while promoting sustainability.

Where are Constellium's manufacturing facilities located?

Constellium's manufacturing facilities are located in Europe and North America.

What challenges did Constellium face in 2023?

Constellium faced significant inflationary pressures and demand headwinds in several end markets during 2023.

What is Constellium's outlook for 2024?

For 2024, Constellium expects strong aerospace demand, modest growth in canstock demand, and healthy automotive demand, while continuing to manage inflationary pressures.

What is metal price lag in Constellium's financial reporting?

Metal price lag represents the financial impact of the timing difference between when aluminum prices included within Constellium's revenue are established and when aluminum purchase prices included in cost of sales are established.

Constellium SE

NYSE:CSTM

CSTM Rankings

CSTM Stock Data

1.79B
144.11M
1.48%
94.24%
1.99%
Aluminum
Basic Materials
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United States of America
Paris