Strong Financial Performance
Shipments increased by 6% to 373,000 tons compared to Q3 2024, with revenue rising 20% to $2.2 billion. Net income reached $88 million, a significant increase from $8 million in the prior year. Adjusted EBITDA increased 85% to $235 million, marking a new Q3 record.
Successful Cost Management and Cash Flow Generation
Free cash flow in the quarter was strong at $30 million, with $25 million returned to shareholders through share repurchases. Leverage decreased by about 0.5 turn to 3.1x.
Packaging Segment Growth
Packaging shipments increased by 11% in the quarter, showing healthy demand in North America and Europe.
AS&I Segment Performance
Adjusted EBITDA of $33 million increased 371% compared to the third quarter of last year, driven by higher shipments and better mix in the quarter.
Leadership Transition
Ingrid Joerg will take over as CEO, bringing over 25 years of experience in the aluminum industry.