Constellium Delivers Record Q4 Results

Constellium posted results that makes their last quarter feel more like steady progress than a cycle driven coin flip. The company reported Q4 2025 revenue of $2.201 billion on shipments of 365 thousand metric tons, with net income of $113 million - up from a $47 million loss a year earlier. Adjusted EBITDA was $280 million, which Constellium called a record fourth quarter, and it paired that with cash from operations of $218 million and free cash flow of $110 million. It also repurchased 2.4 million shares for $40 million, because nothing says confidence like buying your own stock while you are still wiping the aluminum dust off your hands.

The annual results reinforce the message that this was not just a strong finish, it was a stronger year overall. Constellium posted 2025 revenue of $8.4 billion on shipments of 1.495 million metric tons, with net income of $275 million and Adjusted EBITDA of $846 million. Cash generation improved too, with cash from operating activities of $489 million and free cash flow of $178 million, compared with negative free cash flow in 2024. The company said it repurchased 8.9 million shares for $115 million during 2025, and ended the year with $866 million of liquidity, including $120 million of cash and cash equivalents.

Constellium pointed to stronger results across segments in the quarter, led by big gains in Packaging and Automotive Rolled Products and solid improvement in Aerospace and Transportation, while Automotive Structures and Industry remained the more stubborn part of the portfolio. For investors, the important theme is not just higher shipments, but the mix of cost performance, pricing and operational execution that translated into much stronger profitability versus the prior year.

Looking ahead, Constellium introduced 2026 targets that are designed to keep the business running tighter while cash flow keeps moving in the right direction. For 2026, the company expects Adjusted EBITDA excluding the non cash impact of metal price lag of $780 million to $820 million, and free cash flow in excess of $200 million. It also reiterated longer range targets of $900 million in that same Adjusted EBITDA measure and $300 million of free cash flow by 2028. For now, Constellium is aiming to keep the quarter’s momentum alive and letting the cash flow do the talking.

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