Constellium Posts Record Q3 Adjusted EBITDA of $276M, Raises 2026 Guidance
CSTM sits 75% above its 52-week low of $14.62.
Summary
Constellium reported record third-quarter Adjusted EBITDA of $276 million and raised 2026 guidance to $1.03-1.06 billion of Adjusted EBITDA with free cash flow above $300 million, while leverage fell to 1.6x.
Key Events · Earnings and Guidance · CSTM
-
Record Q3 Adjusted EBITDA of $276M
Third-quarter Adjusted EBITDA rose 17% to $276 million from $235 million a year earlier, a record for the period, despite a $4 million negative non-cash metal price lag impact.
-
2026 Guidance Raised
Full-year 2026 Adjusted EBITDA is now guided to $1.03-1.06 billion, excluding metal price lag, with free cash flow above $300 million.
-
Leverage Falls to 1.6x
Net debt dropped to $1,658 million at September 30, 2026 from $1,824 million at December 31, 2025, cutting leverage to 1.6x from 3.1x a year earlier and sitting near the low end of the 1.5x-2.5x target range.
-
ABL Upsized to $700M Through 2031
On October 22, 2026 the Pan-U.S. ABL was amended to raise available commitments from $550 million to $700 million and extend maturity to October 22, 2031.
Analysis · CSTM · Manufacturing
Constellium beat its own prior trajectory: third-quarter Adjusted EBITDA of $276 million is a record for the period and lifts nine-month Adjusted EBITDA to $1.07 billion, up 90% year over year. Management raised full-year 2026 guidance to $1.03-1.06 billion of Adjusted EBITDA and more than $300 million of free cash flow, so the second half is now expected to hold roughly the first-half pace rather than fade. The balance sheet supports that: leverage fell to 1.6x from 3.1x a year ago, near the bottom of the 1.5x-2.5x target range, and the Pan-U.S. ABL was upsized to $700 million and extended to 2031 on October 22. The soft spot is Automotive Structures & Industry, where segment EBITDA fell 36% to $21 million on lower shipments and an unfavorable comparison to prior-year customer compensation.
How filings like this one have moved
In the 30 days to Oct 28, 2026, 30.5% of the 1494 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.03%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, CSTM was trading at $25.53 on NYSE in the Manufacturing sector, with a market capitalization of approximately $3.3B. The 52-week trading range was $14.62 to $36.99. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.