Shares of Constellium NV (CSTM) surged 5.29% in pre-market trading on Thursday as the aluminum products manufacturer reported mixed fourth quarter and full year 2024 results and announced new long-term targets. Despite facing challenges, the company is optimistic about its future outlook.

For the fourth quarter, Constellium posted revenue of $1.72 billion, down 1% from the prior-year period. The company incurred a net loss of $47 million compared to a net income of $5 million in Q4 2023. Adjusted EBITDA was $125 million, which includes a negative $15 million impact from the severe flooding event at its facilities in Switzerland's Valais region.

For the full year 2024, revenue declined 6% to $7.3 billion, while net income dropped to $60 million from $157 million in 2023. Adjusted EBITDA was $623 million, including a negative $33 million impact from the Valais flood. However, the company successfully started up its new recycling and casting center in Neuf-Brisach, France, ahead of schedule and below budget.

Looking ahead, Constellium expects global economic conditions to remain challenging in early 2025 but forecasts Adjusted EBITDA in the range of $600 million to $630 million and Free Cash Flow exceeding $120 million for the full year. The company also set new long-term targets for 2028, aiming for Adjusted EBITDA of $900 million and Free Cash Flow of $300 million.

In a significant move, Constellium announced its decision to shift its SEC reporting to U.S. dollars under U.S. GAAP and voluntarily begin filing its reports on U.S. domestic issuer forms, providing enhanced transparency and aligning with industry standards.