Novelis Inc.
Novelis reported Q2 FY2027 results (quarter ended September 30, 2026) via an 8-K Item 2.02 earnings release. Net sales rose 25% YoY to $5.9B, net income attributable to common shareholder grew 29% to $210M, and Adjusted EBITDA increased 20% to $508M. Rolled product shipments fell 2% to 919 kilotonnes, while Adjusted EBITDA per tonne rose 23% to $553. The company cited $39M in Oswego fire business interruption insurance recoveries and favorable metal benefit as key drivers.
- Net sales up 25% YoY to $5.9B, driven by higher aluminum prices.
- Net income attributable to common shareholder up 29% to $210M.
- Adjusted EBITDA up 20% to $508M; per tonne up 23% to $553.
- Rolled product shipments down 2% to 919 kilotonnes.
- Adjusted free cash flow was a $1.8B outflow for the first half, versus $499M outflow a year ago.
Price data unavailable.
Strong earnings growth and a 20% Adjusted EBITDA jump are offset by a $1.8B free cash flow outflow and 4.7x leverage as the Bay Minette ramp-up continues.
Novelis, the world's largest aluminum rolling and recycling company and a Hindalco subsidiary, is ramping the first fully integrated US aluminum mill in over 40 years at Bay Minette, Alabama.
Heavy capital spending on Bay Minette drove a $1.8B adjusted free cash flow outflow and a 4.7x net leverage ratio; continued Oswego fire impacts and working capital pressure weighed on operating cash flow.