Business
Kaiser Aluminum Corporation Reports Fourth Quarter and Full Year 2024 Financial Results
Fourth Quarter 2024 Highlights: Net Sales $765 Million; Conversion Revenue $358 MillionNet Income $7 Million; Net Income per Diluted Share $0.43 Adjusted Net
About this update from Kaiser Aluminum Corporation
[{"type":"text","content":"Fourth Quarter 2024 Highlights: Net Sales $765 Million; Conversion Revenue $358 MillionNet Income $7 Million; Net Income per Diluted Share $0.43 Adjusted Net Income $6 Million; Adjusted Net Income per Diluted Share $0.33Adjusted EBITDA $50 Million and Adjusted EBITDA Margin 14.0%Declared Quarterly Dividend of $0.77 Full Year 2024 Highlights: Net Sales $3.0 Billion; Conversion Revenue $1.46 BillionNet Income $47 Million; Net Income per Diluted Share $2.87Adjusted Net Income $41 Million; Adjusted Net Income per Diluted Share $2.51Adjusted EBITDA $217 Million and Adjusted EBITDA Margin 14.9%Continued Strong Liquidity of $572 Million as of December 31, 2024 FRANKLIN, Tenn., Feb. 19, 2025 (GLOBE NEWSWIRE) -- Kaiser Aluminum Corporation (NASDAQ: KALU) (the \"Company\" or \"Kaiser\"), a leading producer of semi-fabricated specialty aluminum products serving customers worldwide with highly-engineered solutions for aerospace and high-strength, packaging, general engineering, automotive extrusions, and other industrial applications, today announced fourth quarter and full year 2024 results. Management Commentary “I am pleased with our 2024 performance, particularly our continued margin expansion, which was achieved in a highly complex market environment,” said Keith A. Harvey, Chairman, President and Chief Executive Officer. “As we progress into 2025, we expect market conditions to stabilize and become more favorable, enabling us to capitalize on significant growth investments that are nearing completion. We are excited to be commissioning the new roll coat line in our packaging operations with customer qualifications underway. In addition, we expect to complete the Phase VII expansion at our Trentwood rolling mill in the second half of 2025, ahead of projected increases in demand. These investments reinforce our highly differentiated position in our end market applications, and help ensure our defensible market position, path to improved margins and leverage in the future.” Fourth Quarter and Full Year 2024 Consolidated Results(Unaudited)*(In millions of dollars, except shipments, realized price and per share amounts) Quarter Ended December 31, Year Ended December 31, 2024 2023 2024 2023 Shipments (millions of lbs.) 292 284 1,172 1,196 Net sales $765 $722 $3,024 $3,087 Less hedged cost of alloyed metal1 (407) (361) (1,568) (1,621) Conver...