Strong EBITDA Performance
Achieved 23% EBITDA margins in Q3 and over 20% year-to-date, marking the fourth consecutive period of performance ahead of expectations. Raised full-year EBITDA outlook by 10%, expecting 20% to 25% year-over-year growth.
Trentwood and Warrick Investments Progressing
Trentwood's Phase 7 plate capacity expansion project is on time and on budget. Warrick's fourth coating line marked its strongest output in September, with positive customer feedback and expectations to reach full run rate by 2026.
Positive Financial Metrics
Q3 operating income increased by $36 million year-over-year, and adjusted net income rose to $31 million from $5 million in the prior year. The net debt leverage ratio improved to 3.6x from 4.3x at the end of 2024.
General Engineering and Automotive Segments
General engineering conversion revenue up 6% year-over-year, with strong demand driven by reshoring activity. Automotive conversion revenue increased by 10% year-over-year despite a decrease in shipments.