EarningsConstellium has multiple EBITDA drivers that should aid next year's results, including contributions from the Neuf-Brisach recycling facility, cost savings from the Vision 25 program, aerospace contracts repricing, and Muscle Shoals improvement.
Financial PerformanceCSTM is trading below historical average multiples, although earnings and free cash flow profile and balance sheet have improved in recent years.
ValuationDespite the sell-off, CSTM is believed to be over-penalized, trading below historical average forward multiples, and the longer-term EBITDA target remains attainable.