Constellium NV

Latest Constellium NV News and Updates

  • uploads///comparative
    Materials

    Aluminum company metrics compared

    Trading on the London metal exchange determines the price for primary aluminum. Any increase in the price of aluminum benefits companies that produce primary aluminum.

    By Mohit Oberoi, CFA
  • Materials

    Must-know: Alcoa’s third quarter portfolio transformation

    Alcoa announced the acquisition of Firth Rixson. Firth Rixson is the largest jet engine ring manufacturer. It gets ~75% of its revenues from aerospace industries.

    By Mohit Oberoi, CFA
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    Materials

    Must-know: Alcoa is placed better than other aluminum companies

    The aluminum process starts by extracting bauxite from the Earth’s crust. The bauxite is refined into alumina. Alumina is a key raw material—along with carbon and electricity.

    By Mohit Oberoi, CFA
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    Earnings Report

    Alcoa’s 2016 Guidance Adds Gloom to 3Q Earnings Disappointment

    During its 3Q16 earnings call, Alcoa lowered the business targets for all three segments under Arconic.

    By Mohit Oberoi, CFA
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    Earnings Report

    Alcoa Lowers Guidance for Aerospace Business for the Second Time

    During its 3Q16 earnings call, Alcoa reduced its EPS segment’s fiscal 2016 revenue guidance to $5.6 billion–$5.8 billion from $5.9 billion–$6.1 billion.

    By Mohit Oberoi, CFA
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    Macroeconomic Analysis

    Engineering Alcoa’s Success In 2015

    Alcoa’s engineered products and services In the previous part of this series, we discovered that the engineered products and services segment is Alcoa’s (AA) most profitable. In this part, we’ll look at two factors that will drive this part of the business in 2015. Non-residential construction Alcoa earns almost $1 billion in revenues from the non-residential construction industry. Non-residential construction is picking up, […]

    By Mohit Oberoi, CFA
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    Consumer

    Why JANA Partners opened new position at Constellium

    JANA Partners’ 13F filing disclosed a brand new position in aluminum product manufacturer Constellium N.V. (CSTM) that accounts for 1.83% of JANA’s 1Q 2014 portfolio.

    By Samantha Nielson
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    Earnings Report

    How Can Century Aluminum Manage the Current Downtrend?

    Fortunately for Century Aluminum, its leverage ratios are currently much lower than other companies in this space. CENX has $123 million in cash that should help it manage its operations over the next few quarters

    By Mohit Oberoi, CFA
  • Materials

    Must-know: 3 expansions that will drive Alcoa’s automotive sales

    The Saudi Arabia JV is expected to produce its own electricity. The Middle East has access to cheap fuel sources. As a result, the overall production cost is expected to be lower in this plant.

    By Mohit Oberoi, CFA
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    Macroeconomic Analysis

    Must-know: Alcoa’s Aerospace Segment Is Important

    The aerospace segment is the one of the biggest aluminum consumers in the world. Alcoa (AA) got $4 billion in revenue from aerospace companies last year.

    By Mohit Oberoi, CFA
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    Macroeconomic Analysis

    How Alcoa Looked In 2014

    In this series, we’ll pay special attention to Alcoa’s 2014 performance and to how investors can play Alcoa and other aluminum companies in 2015.

    By Mohit Oberoi, CFA
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    Earnings Report

    Will Rio Tinto’s Quality Aluminum Assets Be Enough?

    The aluminum division contributed to 23% of Rio Tinto’s (RIO) 1H15 underlying EBITDA (or earnings before interest, tax, depreciation, and amortization).

    By Anuradha Garg
  • Materials

    Must-know: Playing the aluminum value chain

    Bauxite is the most abundant metal in the earth’s crust. Because of the many impurities in bauxite, it must be refined to produce alumina.

    By Mohit Oberoi, CFA
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    Miscellaneous

    Do Arconic’s Short-Term Challenges Outweigh Long-Term Drivers?

    The expected synergy from Alcoa’s acquisition of Firth Rixson could be a key driver of Arconic’s (ARNC) medium-term performance.

    By Mohit Oberoi, CFA
  • Materials

    A brief history of aluminum fabricator Constellium

    Constellium is engaged in the aluminum fabrication business. Fabricators give custom shape and size to primary aluminum.

    By Mohit Oberoi, CFA
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    Macroeconomic Analysis

    Alcoa’s Automotive Sales Could Be Hurt By Fall In Crude Oil Price

    Crude oil prices impacted Alcoa’s automotive sales. Under its transformation strategy, Alcoa (AA) is working to address the automotive companies’ lightweighting needs.

    By Mohit Oberoi, CFA
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    Materials

    Must-know: 3 risks that aluminum company investors face

    Litigations can be a big blow for aluminum producers. Litigations are expected to decrease aluminum prices and premiums. This will be negative for aluminum companies like Alcoa Inc. (AA), Century Aluminum (CENX), Kaiser Aluminum Corp. (KALU), and Constellium (CSTM).

    By Mohit Oberoi, CFA
  • Materials

    Why Alcoa is positioned well to serve the automotive industry

    Alcoa is working to expand its capacity in Tennessee. It’s a $275 million investment. Alcoa expects that the facility will be operational by mid-2015.

    By Mohit Oberoi, CFA
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    Materials

    How Can Arconic Offer Long-Term Value to Investors?

    The comps that Alcoa (AA) highlighted for its Value-Added business currently trade at an average of 9.3x their forward EV-to-EBITDA.

    By Mohit Oberoi, CFA
  • Materials

    Why upstream profits increased with rising aluminum prices

    Alumina producers price their products at a percentage of aluminum prices. Alumina prices depend on prevailing aluminum prices on the LME.

    By Mohit Oberoi, CFA
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    Materials

    What Are The Major Regions That Consume Aluminum?

    China is the biggest consumer. It consumes almost half of the aluminum that’s produced globally. However, this isn’t surprising. China is the biggest consumer of most industrial commodities.

    By Mohit Oberoi, CFA
  • uploads///comparative
    Materials

    Outlook 2015: Alcoa Set To Benefit

    Aluminum premiums impact the profitability of aluminum plays depending on where each sits in the aluminum value chain. Alcoa is a primary producer.

    By Mohit Oberoi, CFA
  • Materials

    Why investors should understand Alcoa’s business model

    Alcoa is an integrated player in the aluminum value chain. This means its operations extend from bauxite refining to aluminum fabrication.

    By Mohit Oberoi, CFA
  • Materials

    Why Alcoa is transforming from a pure-play aluminum company

    Alcoa (AA) is the largest aluminum company in the US. It’s among the top three aluminum producers globally. The company was founded in 1888.

    By Mohit Oberoi, CFA
  • Materials

    Why Century Aluminum is the most expensive aluminum play

    Century Aluminum has the highest price-to-earnings ratio compared to its industry peers.

    By Mohit Oberoi, CFA
  • Materials

    Strong 3Q earnings push Century Aluminum to 52-week high

    Century Aluminum reported an adjusted earnings per share of $0.52 in the third quarter, a 135% increase over its 2Q EPS of $0.22.

    By Mohit Oberoi, CFA
  • Materials

    Key facts about Century Aluminum’s Mt. Holly acquisition

    If the current profitability of the Mt. Holly plant remains steady, Century’s acquisition of the plant can add another $44 million to its 2015 EBITDA.

    By Mohit Oberoi, CFA
  • Materials

    Key aspects of Century’s Mt. Holly transaction

    The Mt. Holly plant added $11 million in earnings before interest, taxes, depreciation, and amortization to Alcoa’s 3Q earnings.

    By Mohit Oberoi, CFA
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    Materials

    Why JANA Partners sold stake in Huntsman

    JANA Partners’ 13F filing said the fund sold its position in Huntsman (HUN) that accounted for 3.27% of JANA’s 4Q 2013 portfolio.

    By Samantha Nielson
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    Materials

    Overview: An investor’s guide to the aluminum industry

    Aluminum is the most abundant metal found in the earth’s crust. It’s soft, lightweight, and durable in nature. Its low density and resistance to corrosion make it a very important metal that a lot of industries use.

    By Mohit Oberoi, CFA
  • Materials

    Must-know: Emerging trends in China’s aluminum market

    Contrary to global expectations, China has increased its smelting capacities in the past decade. There are plenty of reasons behind this move.

    By Mohit Oberoi, CFA
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    Materials

    Must-know: Understanding aluminum’s value chain

    The aluminum industry has a value chain that consists of both upstream and downstream companies. Upstream companies are engaged in the mining and refining operations.

    By Mohit Oberoi, CFA
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    Company & Industry Overviews

    Could Cash Strengthen Arconic as It Battles Elliott Management?

    According to Dow Jones, Elliott Management’s regulatory filings reveal that the company finds Arconic (ARNC) “dramatically undervalued.”

    By Mohit Oberoi, CFA
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    Earnings Report

    What Are Analysts Projecting for Arconic’s 4Q16 Revenues?

    Analysts expect Arconic to post revenues of $3.0 billion in 4Q16. Alcoa’s downstream business posted revenues of $3.37 billion in 3Q16.

    By Mohit Oberoi, CFA
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    Earnings Report

    Can Arconic Get Wall Street’s Support with Its 4Q16 Earnings?

    Arconic will release its 4Q16 earnings on January 31. Its 4Q16 earnings could be an opportunity for Arconic to get some support from Wall Street.

    By Mohit Oberoi, CFA
  • uploads///part  arconic
    Miscellaneous

    Are Short-Term Challenges Playing on Arconic Investors’ Minds?

    The Engineered Products and Solutions business of consolidated Alcoa would be the key driver of Arconic’s earnings, given its share in the company’s earnings.

    By Mohit Oberoi, CFA
  • uploads///part  arconic atoi
    Earnings Report

    Arconic’s 3Q16 Income Falls on Lower Pricing and Higher Costs

    Arconic posted an ATOI (after-tax operating income) of $267 million in 3Q16. In comparison, its ATOI was $294 million in 2Q16 and $257 million in 3Q15.

    By Mohit Oberoi, CFA
  • uploads///part  EPS beat
    Earnings Report

    Can Alcoa Make It Four in a Row with a 3Q16 Earnings Beat?

    3Q16 earnings beat According to consensus estimates compiled by Bloomberg, analysts expect Alcoa (AA) to post adjusted EPS (earnings per share) of $0.11 in 3Q16. To put this in perspective, the company posted adjusted EPS of $0.15 in 2Q16 and $0.07 in 3Q15. Analysts expect Alcoa’s 3Q16 EPS to fall year-over-year and quarter-over-quarter. Earnings beat Notably, […]

    By Mohit Oberoi, CFA
  • uploads///part  upstream
    Earnings Report

    Alcoa 3Q16 Preview: Could Productivity Offset Pricing Pressure?

    Pricing pressure Previously, we looked at the different factors that could impact Alcoa’s (AA) 3Q16 upstream revenues. In this article, we’ll analyze how the company’s downstream revenues could play out in the quarter. Note that Alcoa’s downstream business consists of three segments: Engineered Products and Solutions (or EPS), Transportation and Construction Solutions (or TCS), and […]

    By Mohit Oberoi, CFA
  • uploads///part  analyst action
    Earnings Report

    How is Wall Street Rating Alcoa Before its 3Q16 Earnings Release?

    Wall Street’s rating According to consensus estimates compiled by Bloomberg, Alcoa (AA) carries a one-year price target of $11.29, which represents an 11.3% upside over its September 30 closing price. Century Aluminum (CENX) is trading 9.7% below its consensus one-year price target. Rio Tinto (RIO) and Constellium (CSTM) are trading at price levels similar to […]

    By Mohit Oberoi, CFA
  • uploads///part  china car sales
    Company & Industry Overviews

    Is Alcoa Staring at an Automotive Slowdown in 2017?

    Since the automotive sector is among the leading aluminum consumers, stagnation in car sales could impact primary aluminum producers.

    By Mohit Oberoi, CFA
  • uploads///part  arconic risk
    Materials

    Investor Alert: Can Arconic Navigate Its Short-Term Challenges?

    Demand from the aerospace industry has grown at a steady rate for the last couple of years. Higher fuel prices have forced airline companies to order new energy-efficient aircraft.

    By Mohit Oberoi, CFA
  • uploads///part  arconic risk
    Materials

    In Focus: What Challenges Would Arconic Face in the Short Term?

    Arconic’s post-split structure would include the business segments that are currently under the Global Rolled Products (or GRP), Transportation and Construction Solutions (or TCS), and Engineered Products and Solutions (or EPS) businesses.

    By Mohit Oberoi, CFA
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    Materials

    Do the Markets Really Want Alcoa to Split into 2 Companies?

    It’s been almost a year since Alcoa (AA) announced its split. In this series, we’ll explore the factors that are influencing Alcoa this year, including the various opportunities and challenges that the split could impose on the company.

    By Mohit Oberoi, CFA
  • uploads///part  china car sales
    Materials

    Rising Global Automotive Sales Should Support Aluminum Demand

    China’s passenger car sales rose to 1.6 million in July, a year-over-year increase of 23%. This is the highest growth rate in 3.5 years.

    By Mohit Oberoi, CFA
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    Materials

    Alcoa or Arconic: Who Did Best in 2Q16?

    Under its transformation strategy, Alcoa has turned into a diversified engineering company. It reported 2Q16 EPS of $0.15 after adjusting for special items.

    By Mohit Oberoi, CFA
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    Company & Industry Overviews

    US Aluminum Premiums Could Remain Stable in 2016

    While capacity cuts by US smelters might not have an impact on aluminum prices, cuts could support aluminum premiums. Aluminum premiums are more regional.

    By Mohit Oberoi, CFA
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    Macroeconomic Analysis

    The Auto Industry’s Aluminum Usage Is Increasing

    The usage of aluminum in automobiles has been gradually increasing, as it improves vehicle performance, reduces CO2 emissions, and boosts fuel economy.

    By Val Kensington
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    Miscellaneous

    No Surprises in Alcoa’s Post-Separation Management Structure

    On November 24, Alcoa announced the executive management structure to be introduced following its split.

    By Mohit Oberoi, CFA
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    Company & Industry Overviews

    What’s Driving Alcoa’s Stock?

    Alcoa’s stock has witnessed a decent upwards move over the last few trading sessions, gaining more than 16% since November 12.

    By Mohit Oberoi, CFA
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    Fund Managers

    Elliott Management Bet on Value Creation after Alcoa’s Split

    In its SEC regulatory filing disclosing its stake in Alcoa (AA), Elliott Management noted that it found Alcoa “dramatically undervalued by the public market.”

    By Mohit Oberoi, CFA
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    Earnings Report

    How Did the Aluminum Industry Fare in 3Q15?

    2015 has been nothing short of a nightmare for the aluminum industry. Alcoa (AA) and Century Aluminum (CENX) have lost 45% and 85%, respectively, so far in 2015.

    By Mohit Oberoi, CFA
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    Earnings Report

    Century Aluminum’s 3Q15 Earnings Release Sparked a Selling Spree

    Century Aluminum (CENX) released its 3Q15 financial results on October 29, 2015, after the markets closed. The company reported a net loss of $56.1 million in the quarter.

    By Mohit Oberoi, CFA
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    Earnings Report

    Will Century Aluminum Post a Larger-Than-Expected Loss in 3Q15?

    Analysts expect Century Aluminum (CENX) to post a loss when it releases its 3Q15 results on October 29, 2015. Earnings season for the aluminum industry has started on a dull note.

    By Mohit Oberoi, CFA
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    Company & Industry Overviews

    How Aluminum Companies Are Managing Their Leverage Ratios

    It’s important for investors in mining companies (XME) to know how these companies manage their leverage ratios. It’s important to know the company’s debt ratios.

    By Mohit Oberoi, CFA
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    Company & Industry Overviews

    Is There Value in Aluminum Midstream Operations?

    Several upstream producers like Alcoa (AA) and Norsk Hydro (NHYDY) also have midstream operations. These companies have rolling mills.

    By Mohit Oberoi, CFA
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    Company & Industry Overviews

    What Will Drive Alcoa? Commodity Prices or Transformation?

    Most aluminum companies delivered decent stock market returns last year. So what has gone wrong with Alcoa? Its transformation strategy was expected to enhance shareholder value.

    By Mohit Oberoi, CFA
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    Macroeconomic Analysis

    Why Alcoa Investors Should Track Ford 1Q Earnings

    Ford’s 1Q earnings are expected on April 28. Ford is an important customer for Alcoa, and its latest F-150 pickup truck is the first mass market aluminum body vehicle.

    By Mohit Oberoi, CFA
  • uploads///eps part
    Earnings Report

    Alcoa: Downstream Business Gives Star Performance in 1Q 2015

    Alcoa’s (AA) downstream business generated after-tax operating income of $191 million in 1Q 2015, its highest-ever after-tax operating income.

    By Mohit Oberoi, CFA
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    Earnings Report

    What Are Constellium’s Major Operations?

    Constellium is engaged in the aluminum fabrication business. Its fourth quarter earnings were a positive surprise for the markets.

    By Mohit Oberoi, CFA
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    Earnings Report

    Constellium’s Shipments Rose, But Its Profits Decreased in 4Q14

    While Constellium’s shipments increased in the fourth quarter, its profits decreased. Its fourth quarter EBITDA came down by 14% on a YoY basis.

    By Mohit Oberoi, CFA
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    Company & Industry Overviews

    How RTI International Metals fits into Alcoa’s aerospace strategy

    Alcoa has announced the acquisition of RTI International Metals (RTI). RTI will enhance Alcoa’s portfolio of titanium offerings.

    By Mohit Oberoi, CFA
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    Macroeconomic Analysis

    Alcoa investors should track nonresidential construction

    Alcoa gets more than $1 billion in revenues from nonresidential construction. Investors should thus track nonresidential construction activity closely.

    By Mohit Oberoi, CFA
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    Macroeconomic Analysis

    Watch these key aluminum indicators if you’re an Alcoa investor

    In this series, we’ll look at the key aluminum indicators and how they’re shaping up. We’ll see the movement in aluminum prices and physical premiums.

    By Mohit Oberoi, CFA
  • uploads///aluminum premiums
    Earnings Report

    What Drove Century Aluminum’s 4Q Earnings?

    Century Aluminum’s shipments increased in the fourth quarter. It was mainly due to the acquisition of stake in the Mt. Holly smelter.

    By Mohit Oberoi, CFA
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    Earnings Report

    Century Aluminum’s 4Q Earnings – Shipments Rose

    Century Aluminum posted an adjusted EPS of $0.65 in the fourth quarter. Its EPS was $0.52 in 3Q14. The earnings were lower than Wall Street’s expectations.

    By Mohit Oberoi, CFA
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    Earnings Report

    Century Aluminum’s Profit Margins Rose In 4Q14

    A shift to value-added products also helped enhance Century Aluminum’s profit margins. An increase in its profit margins is a positive sign for its investors.

    By Mohit Oberoi, CFA
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    Earnings Report

    Century Aluminum Crashed After Its 4Q Earnings Release

    Century Aluminum (CENX) posted its 4Q14 financial results on February 24 after the market closed. The earnings came in lower than analysts’ expectations.

    By Mohit Oberoi, CFA
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    Earnings Report

    How Will Alcoa’s Lightweighting Initiatives Shape Up In 2015?

    By increasing the aluminum content of a vehicle, auto manufacturers can reduce a vehicle’s weight by ~30% and increase the vehicle’s fuel economy.

    By Mohit Oberoi, CFA
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    Earnings Report

    Overview: Alcoa’s 4Q14 Financial Results

    Alcoa is a global leader in lightweight metals technology, engineering, and manufacturing. It employs more than 60,000 people in over 30 countries.

    By Mohit Oberoi, CFA
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    Materials

    Century Aluminum’s placement on the aluminum value chain

    The aluminum industry has a value chain that consists of upstream and downstream companies. Upstream companies are engaged in mining and refining operations. The downstream operations involve smelting, casting, and fabricating the refined alumina.

    By Mohit Oberoi, CFA
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    Materials

    Must-know: Why energy prices are important for aluminum companies

    More than 3% of electricity produced globally is used in aluminum extraction. In Australia, one of the world’s largest bauxite producers, 12% of electricity consumed went into aluminum production.

    By Mohit Oberoi, CFA
  • Materials

    Constellium moves to new ground with acquisition of Wise Metals

    With this acquisition, Constellium becomes an international company. It also moves into upstream aluminum operations, through the aluminum recycling facilities of Wise Metals.

    By Mohit Oberoi, CFA
  • uploads///aerospace
    Materials

    Why Alcoa’s aerospace revenues are going to increase

    Globally, the aerospace segment is the one of the biggest aluminum consumers. The aerospace segment is important for Alcoa. There’s a nine-year production backlog for the large commercial aircraft segment.

    By Mohit Oberoi, CFA
  • Materials

    Why the Firth Rixson acquisition makes strategic sense for Alcoa

    The deal with Firth Rixson is strategically important for Alcoa. Firth Rixson is the largest jet engine ring manufacturer. It gets ~75% of its revenues from the aerospace industry. It adds new products and customers to Alcoa’s aerospace portfolio.

    By Mohit Oberoi, CFA
  • uploads///aerospace
    Materials

    Must-know: Alcoa’s key customer segments

    Alcoa is a global leader in aerospace fastening systems and jet engine airfoils. It develops airframe and engine applications. Alcoa has developed more than 90% of all aluminum aerospace alloys. It’s a leader in the aerospace industry. Every western commercial aircraft that’s flying today uses Alcoa fasteners.

    By Mohit Oberoi, CFA
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