Constellium (CSTM) Tops Q1 EPS by EUR0.24

Constellium (NYSE: CSTM) reported Q1 EPS of EUR0.32, EUR0.24 better than the analyst estimate of EUR0.08. Revenue for the quarter came in at EUR1.3 billion versus the consensus estimate of EUR1.3 billion.

Jean-Marc Germain, Constellium’s Chief Executive Officer said, “Our team delivered solid first quarter results. Better-than-expected market demand and excellent cost performance propelled us above the top end of our Adjusted EBITDA guidance range. P&ARP demonstrated strong cost control, which helped to offset the effects of several one-off events. A&T results continue to be negatively affected by weak aerospace demand; however, TID has been a bright spot, with improving demand in both the U.S. and Europe. AS&I reported record first quarter Adjusted EBITDA and returned to historical levels of profitability. Lastly, we continue to build on our track record of delivering consistent and significant Free Cash Flow with €46 million generated in the first quarter.

Mr. Germain concluded, "I am optimistic about our prospects for the remainder of 2021, despite some lingering uncertainties. Our end markets, with the exception of aerospace, remain strong. We expect Adjusted EBITDA of €510 million to €530 million and Free Cash Flow in excess of €100 million in 2021. As a result, we expect our leverage to fall well below 4.0x by the end of the year. We continue to be focused on executing our strategy, driving operational performance, and generating Free Cash Flow.”

For earnings history and earnings-related data on Constellium (CSTM) click here.

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