Constellium Q2 Net Income Rises; Revenue Down 8%

(RTTNews) - Constellium SE (CSTM) reported second quarter net income of 71 million euros compared to 32 million euros, a year ago. Earnings per share was 0.48 euros compared to 0.21 euros. The company said the increase in net income is primarily related to favorable changes in gains and losses on derivatives mostly related to hedging positions and lower selling and administrative expenses, partially offset by lower gross profit and higher income tax expense.

Revenue was 1.8 billion euros, down 8% compared to prior year. Shipments were 378 thousand metric tons, down 5% from last year. The company said its revenue decreased primarily due to lower shipments and unfavorable price and mix, partially offset by higher metal prices.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.