Sheets of 5754-aluminum alloy processed by a modified repetitive corrugation and straightening (RCS) process were tested in order to measure their formability. For this purpose, forming limit curves were derived. They showed that the material forming capacity decreased after being processed by RCS. However, they kept good formability in the initial stages of the RCS process. The formability study was complemented with microstructural analysis (derivation of texture) and mechanical tests to obtain the strain-rate sensitivity. The texture analysis was done by employing X-ray diffraction, obtaining pole figures, and the orientation distribution function. It was noticed that the initial texture was conserved after successive RCS passes, but the intensity dropped. RCS process did not induce β-fiber, contrary to common deformation process. The strain-rate sensitivity coefficient was measured through tensile tests at different temperatures and strain rates; the coefficient of the samples processed after one and two passes were still relatively high, indicating the capacity to delay necking, in agreement with the good formability observed in the initial passes of the RCS process.