Latest news with #SteveFisher
Economic Times
12-08-2025
- Business
- Economic Times
Novelis Q1 Results: Net income slumps 36% to $96 million, sales sees 13% growth
Novelis Inc, the wholly-owned subsidiary of Hindalco Industries, has reported a 36% year-on-year fall in its net income for the June quarter at $96 million. Excluding special items, the bottomline was 43% lower compared to the previous year at $116 million. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Novelis Inc, the wholly-owned subsidiary of Hindalco Industries , has reported a 36% year-on-year fall in its net income for the June quarter at $96 million. Excluding special items, the bottomline was 43% lower compared to the previous year at $116 US-based aluminium-maker's net sales were 13% higher compared to the previous year at $4.7 billion, helped by higher average aluminum prices and a 1% year-on-year increase in total rolled product shipments to 963 kilotonnes.'Higher beverage packaging shipments were partially offset by lower automotive and specialty shipments,' the company said in a earnings before interest, tax, depreciation and amortization EBITDA ) fell 17% on year to $416 million, while the adjusted EBITDA made on each tonne of steel stood at $432, down by 18% on year.'While market headwinds mainly from structurally higher scrap prices negatively impacted financial performance in the quarter, we are making solid progress on our comprehensive cost reduction program, which we expect will lower our cost base and improve our margins,' Steve Fisher, chief executive officer of Novelis Inc was quoted in a company has also raised its guidance for the expected run-rate cost savings to over $100 million by the end of the fiscal, up from the previously estimated $75 million.'We have already implemented a round of organization redesign, footprint rationalization and process improvement actions to drive simplification and efficiencies,' Fisher spent $386 million on capital expenditure in the three months of the current fiscal so far. This was primarily for strategic investments in new rolling and recycling capacity under construction, including the company's new greenfield rolling and recycling plant in Bay Minette, Alabama.
Economic Times
12-08-2025
- Business
- Economic Times
Hindalco shares in focus as Novelis Q1 net income drops 36% to $96 million; net sales up 13%
Hindalco Industries shares will be in focus on Tuesday after its US-based subsidiary Novelis Inc reported a 36% year-on-year decline in net income attributable to common shareholders to $96 million for Q1FY26. ADVERTISEMENT Excluding special items, net income fell 43% to $116 million. Adjusted EBITDA slipped 17% to $416 million, while adjusted EBITDA per tonne dropped 18% to $432. Net sales for the quarter ended June 30, 2025, rose 13% to $4.7 billion, driven by higher average aluminium prices and a 1% increase in total rolled product shipments to 963 kilotonnes. Higher beverage packaging shipments were partially offset by lower automotive and specialty shipments. The fall in profitability was linked to restructuring charges, higher aluminium scrap prices, an unfavourable product mix, and net negative tariff impacts. These were partially offset by improved product pricing, lower SG&A costs, favourable metal price lag, and forex gains. Operating cash flow increased 42% to $105 million due to lower working capital needs. Adjusted free cash flow saw an outflow of $295 million, versus a $280-million outflow last year, as capital expenditure rose to $386 million for strategic capacity expansions, including the Bay Minette, Alabama, plant. The company's net leverage ratio stood at 3.2x at the end of the quarter. Total liquidity was $3 billion, comprising $1.1 billion in cash and cash equivalents and $2 billion in committed credit facilities. In June 2025, Novelis issued $400 million of tax-exempt bonds with a mandatory tender in 2032 and maturity in 2055 to fund part of the Bay Minette project. ADVERTISEMENT Steve Fisher, President and CEO, Novelis Inc, said, "We continue to see strong demand for aluminium beverage packaging sheet supporting topline growth and the need for new capacity under construction at our plant in Bay Minette, Alabama.' Unlock 500+ Stock Recos on App 'While market headwinds, mainly from structurally higher scrap prices, negatively impacted financial performance in the quarter, we are making solid progress on our comprehensive cost reduction programme, which we expect will lower our cost base and improve our margins. We have already implemented a round of organisation redesign, footprint rationalisation and process improvement actions to drive simplification and efficiencies," he added. ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Associated Press
11-08-2025
- Business
- Associated Press
Novelis Reports First Quarter Fiscal Year 2026 Results
Q1 Fiscal Year 2026 Highlights ATLANTA, Aug. 11, 2025 /PRNewswire/ -- Novelis Inc., a leading sustainable aluminum solutions provider and the world leader in aluminum rolling and recycling, today reported results for the first quarter of fiscal year 2026. 'We continue to see strong demand for aluminum beverage packaging sheet supporting top-line growth and the need for new capacity under construction at our plant in Bay Minette, Alabama,' said Steve Fisher, president and CEO, Novelis Inc. 'While market headwinds mainly from structurally higher scrap prices negatively impacted financial performance in the quarter, we are making solid progress on our comprehensive cost reduction program, which we expect will lower our cost base and improve our margins. We have already implemented a round of organization redesign, footprint rationalization and process improvement actions to drive simplification and efficiencies. We believe these actions will accelerate anticipated run-rate cost savings to over $100 million by the end of this fiscal year, exceeding our previously estimated target of approximately $75 million.' First Quarter Fiscal Year 2026 Financial Highlights Net sales for the first quarter of fiscal year 2026 increased 13% versus the prior year period to $4.7 billion, mainly driven by higher average aluminum prices and a 1% increase in total rolled product shipments compared to the prior year period to 963 kilotonnes. Higher beverage packaging shipments were partially offset by lower automotive and specialty shipments. Net income attributable to our common shareholder decreased 36% versus the prior year to $96 million in the first quarter of fiscal year 2026, primarily driven by restructuring charges and lower operating performance, partially offset by favorable metal price lag. Net income attributable to our common shareholder, excluding special items, decreased 43% year-over-year to $116 million and Adjusted EBITDA decreased 17% to $416 million in the first quarter of fiscal year 2026. These decreases were primarily driven by higher aluminum scrap prices, unfavorable product mix, and a net negative tariff impact, partially offset by higher product pricing, lower SG&A costs and favorable foreign exchange. Adjusted EBITDA per tonne was down 18% year-over-year to $432. Net cash flow provided by operating activities increased 42% to $105 million in the first three months of fiscal year 2026, primarily due to lower net working capital, partially offset by lower Adjusted EBITDA. Adjusted free cash flow was an outflow of $295 million in the first three months of fiscal year 2026, compared to the prior year period outflow of $280 million, with higher capital expenditures partially offset by higher net cash flow provided by operating activities. Total capital expenditures were $386 million for the first three months of fiscal year 2026, primarily attributed to strategic investments in new rolling and recycling capacity under construction, most notably in the U.S. for the Company's new greenfield rolling and recycling plant in Bay Minette, Alabama. 'We are finding opportunities to streamline our cost structure in response to the challenging external environment, freeing up resources that can be invested to meet continued growing market demand for low-carbon, more sustainable aluminum products,' said Dev Ahuja, executive vice president and CFO, Novelis Inc. The Company had a net leverage ratio (Adjusted Net Debt / trailing twelve months (TTM) Adjusted EBITDA) of 3.2x at the end of the first quarter of fiscal year 2026. Total liquidity stood at $3.0 billion as of June 30, 2025, consisting of $1.1 billion in cash and cash equivalents and $2.0 billion in availability under committed credit facilities. In June 2025, Novelis issued $400 million of tax-exempt bonds with a mandatory tender for purchase in 2032 and maturation in 2055, with the proceeds to be used to finance a portion of the construction costs at Bay Minette. First Quarter Fiscal Year 2026 Earnings Conference Call Novelis will discuss its first quarter fiscal year 2026 results via a live webcast and conference call for investors at 7:00 a.m. EDT/4:30 p.m. IST on Monday, August 11, 2025. The webcast link, presentation materials and access information can also be found at To view slides and listen to the live webcast, visit: To participate by telephone, participants are requested to register at: About Novelis Novelis Inc. is driven by its purpose of shaping a sustainable world together. We are a global leader in the production of innovative aluminum products and solutions and the world's largest recycler of aluminum. Our ambition is to be the leading provider of low-carbon, sustainable aluminum solutions and to achieve a fully circular economy by partnering with our suppliers, as well as our customers in the aerospace, automotive, beverage packaging and specialties industries throughout North America, Europe, Asia and South America. Novelis had net sales of $17.1 billion in fiscal year 2025. Novelis is a subsidiary of Hindalco Industries Limited, an industry leader in aluminum and copper, and the metals flagship company of the Aditya Birla Group, a multinational conglomerate based in Mumbai. For more information, visit Non-GAAP Financial Measures This news release and the presentation slides for the earnings call contain non-GAAP financial measures as defined by SEC rules. We believe these measures are helpful to investors in measuring our financial performance and liquidity and comparing our performance to our peers. However, our non-GAAP financial measures may not be comparable to similarly titled non-GAAP financial measures used by other companies. These non-GAAP financial measures have limitations as an analytical tool and should not be considered in isolation or as a substitute for GAAP financial measures. To the extent we discuss any non-GAAP financial measures on the earnings call, a reconciliation of each measure to the most directly comparable GAAP measure will be available in the presentation slides, which can be found at In addition, the Form 8-K includes a more detailed description of each of these non-GAAP financial measures, together with a discussion of the usefulness and purpose of such measures. Attached to this news release are tables showing the condensed consolidated statements of operations, condensed consolidated balance sheets, condensed consolidated statements of cash flows, reconciliation of Adjusted EBITDA, Adjusted EBITDA per Tonne, Adjusted Free Cash Flow, Adjusted Net Leverage Ratio, Net Income attributable to our common shareholder excluding Special Items, and segment information. Forward-Looking Statements Statements made in this news release which describe Novelis' intentions, expectations, beliefs or predictions may be forward-looking within the meaning of securities laws. Forward-looking statements include statements preceded by, followed by, or including the words 'believes,' 'expects,' 'anticipates,' 'plans,' 'estimates,' 'projects,' 'forecasts,' or similar expressions. Examples of forward-looking statements in this news release are statements about: our belief that competition for scrap aluminum has intensified, creating significant pressure on scrap pricing and our financial results; the anticipated benefits of our cost reduction and efficiency efforts and our ability to meet our efficiency targets; and our belief that Novelis is well positioned to face the current competition environment. Novelis cautions that, by their nature, forward-looking statements involve risk and uncertainty and Novelis' actual results could differ materially from those expressed or implied in such statements. We do not intend, and we disclaim any obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise. Factors that could cause actual results or outcomes to differ from the results expressed or implied by forward-looking statements include, among other things: disruptions or changes in the business or financial condition of our significant customers or the loss of their business or reduction in their requirements; impact of changes in trade policies, new tariffs and other trade measures; price and other forms of competition from other aluminum rolled products producers and potential new market entrants; the competitiveness of our end-markets, and the willingness of our customer to accept substitutes for our products, including steel, plastics, composite materials and glass; our failure to realize the anticipated benefits of strategic investments; increases in the cost or volatility in the availability of primary aluminum, scrap aluminum, sheet ingot, or other raw materials used in the production of our products; risks related to the energy-intensive nature of our operations, including increases to energy costs or disruptions to our energy supplies; downturns in the automotive and ground transportation industries or changes in consumer demand; union disputes and other employee relations issues; the impact of labor disputes and strikes on our customers; loss of our key management and other personnel, or an inability to attract and retain such management and other personnel; unplanned disruptions at our operating facilities, including as a result of adverse weather phenomena; economic uncertainty, capital markets disruption and supply chain interruptions; unexpected impact of public health crises on our business, suppliers, and customers; risks relating to certain joint ventures, subsidiaries and assets that we do not entirely control; risks related to fluctuations in freight costs; risks related to rising inflation and prolonged periods of elevated interest rates; risks related to timing differences between the prices we pay under purchase contracts and metal prices we charge our customers; a deterioration of our financial condition, a downgrade of our ratings by a credit rating agency or other factors which could limit our ability to enter into, or increase our costs of, financing and hedging transactions; risk of rising debt service obligations related to variable rate indebtedness; adverse changes in currency exchange rates; our inability to transact in derivative instruments, or our inability to adequately hedge our exposure to price fluctuations under derivative instruments, or a failure of counterparties to our derivative instruments to honor their agreement; an adverse decline in the liability discount rate, lower-than-expected investment return on pension assets; impairments to our goodwill, other intangible assets, and other long-lived assets; tax expense, tax liabilities or tax compliance costs; risks related to the operating and financial restrictions imposed on us by the covenants in our credit facilities and the indentures governing our Senior Notes; cybersecurity attacks against, disruptions, failures or security breaches and other disruptions to our information technology networks and systems; risks of failing to comply with federal, state and foreign laws and regulations and industry standards relating to privacy, data protection, advertising and consumer protection; our inability to protect our intellectual property, the confidentiality of our know-how, trade secrets, technology, and other proprietary information; risks related to our global operations, including the impact of complex and stringent laws and government regulations; risks related to global climate change, including legal, regulatory or market responses to such change; risks related to a broad range of environmental, health and safety laws and regulations; and risks related to potential legal proceedings or investigations. The above list of factors is not exhaustive. Other important factors are discussed under the captions 'Risk Factors' and 'Management's Discussion and Analysis' in our Annual Report on Form 10-K for the fiscal year ended March 31, 2025 and as the same may be updated from time to time in our quarterly reports on Form 10-Q, or in other reports which we from time to time file with the SEC. View original content to download multimedia: SOURCE Novelis Inc.
Yahoo
04-08-2025
- Business
- Yahoo
Novelis to Host First Quarter Fiscal Year 2026 Earnings Conference Call on August 11
ATLANTA, Aug. 4, 2025 /PRNewswire/ -- Novelis Inc. will report its earnings for the first quarter of fiscal year 2026 on Monday, August 11, 2025. Following the release, Steve Fisher, President and Chief Executive Officer, and Dev Ahuja, Chief Financial Officer, will discuss the results via a live conference call for investors at 7:00 a.m. EDT/4:30 p.m. IST the same day. The conference call will also be webcast live via the Novelis website, with presentation materials available online at The webcast can be accessed at: To participate by telephone, participants are requested to register at: Upon registering you will receive the dial-in info and a unique PIN to join the call as well as an email confirmation with the details. Following the meeting, the webcast will be available for replay at About Novelis Novelis Inc. is driven by its purpose of shaping a sustainable world together. We are a global leader in the production of innovative aluminum products and solutions and the world's largest recycler of aluminum. Our ambition is to be the leading provider of low-carbon, sustainable aluminum solutions and to achieve a fully circular economy by partnering with our suppliers, as well as our customers in the aerospace, automotive, beverage can and specialties industries throughout North America, Europe, Asia and South America. Novelis had net sales of $17.1 billion in fiscal year 2025. Novelis is a subsidiary of Hindalco Industries Limited, an industry leader in aluminum and copper, and the metals flagship company of the Aditya Birla Group, a multinational conglomerate based in Mumbai. For more information, visit View original content to download multimedia: SOURCE Novelis Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
04-08-2025
- Business
- Associated Press
Novelis to Host First Quarter Fiscal Year 2026 Earnings Conference Call on August 11
ATLANTA, Aug. 4, 2025 /PRNewswire/ -- Novelis Inc. will report its earnings for the first quarter of fiscal year 2026 on Monday, August 11, 2025. Following the release, Steve Fisher, President and Chief Executive Officer, and Dev Ahuja, Chief Financial Officer, will discuss the results via a live conference call for investors at 7:00 a.m. EDT/4:30 p.m. IST the same day. The conference call will also be webcast live via the Novelis website, with presentation materials available online at The webcast can be accessed at: To participate by telephone, participants are requested to register at: Upon registering you will receive the dial-in info and a unique PIN to join the call as well as an email confirmation with the details. Following the meeting, the webcast will be available for replay at About Novelis Novelis Inc. is driven by its purpose of shaping a sustainable world together. We are a global leader in the production of innovative aluminum products and solutions and the world's largest recycler of aluminum. Our ambition is to be the leading provider of low-carbon, sustainable aluminum solutions and to achieve a fully circular economy by partnering with our suppliers, as well as our customers in the aerospace, automotive, beverage can and specialties industries throughout North America, Europe, Asia and South America. Novelis had net sales of $17.1 billion in fiscal year 2025. Novelis is a subsidiary of Hindalco Industries Limited, an industry leader in aluminum and copper, and the metals flagship company of the Aditya Birla Group, a multinational conglomerate based in Mumbai. For more information, visit View original content to download multimedia: SOURCE Novelis Inc.
