Constellium reports Q1 EPS EUR0.14 vs. EUR1.20 last year

Reports Q1 revenue EUR1.96M vs. EUR1.98M last year. CEO Jean-Marc Germain said, "Our team delivered solid first quarter results on strong demand across several end markets and solid execution despite significant inflationary pressures. A&T delivered record quarterly Adjusted EBITDA, and AS&I delivered record Q1 Adjusted EBITDA…Lastly, Free Cash Flow was in line with our expectations at negative EUR 34 million and we maintained our leverage at 2.8x. While uncertainties persist on the macroeconomic and geopolitical fronts, we like our end market positioning and we are optimistic about our prospects for the remainder of this year and beyond. Based on our current outlook, we are raising our guidance and expect Adjusted EBITDA in the range of EUR650M-EUR680M and Free Cash Flow in excess of EUR125M in 2023. We also remain confident in our ability to deliver on our long-term target of Adjusted EBITDA over EUR800M in 2025. Our focus is on executing our strategy, driving operational performance, generating Free Cash Flow, achieving our ESG objectives and increasing shareholder value."