Business
Kaiser Aluminum Corporation Reports Second Quarter and First Half 2022 Financial Results
Second Quarter 2022 Highlights: Net Sales $954 Million; Value Added Revenue $376 MillionNet Loss $14 Million; Net Loss per Diluted Share $0.87Adjusted Net
About this update from Kaiser Aluminum Corporation
[{"type":"text","content":"Second Quarter 2022 Highlights: Net Sales $954 Million; Value Added Revenue $376 MillionNet Loss $14 Million; Net Loss per Diluted Share $0.87Adjusted Net Loss $1 Million; Adjusted Loss per Diluted Share $0.03Adjusted EBITDA $41 Million; Adjusted EBITDA Margin 10.9%Strong Demand for General Engineering and Packaging; Aerospace Recovery Continues As ExpectedImproved Pricing Largely Mitigating Inflationary and Commodity Costs Continued Increase in Inflationary Costs Remains ChallengingIncremental Costs of ~$17 Million Primarily Related to Metal and Magnesium Supply Chain Issues First Half 2022 Highlights: Net Sales $1.9 Billion; Value Added Revenue $747 Million Net Loss $6 Million; Net Loss per Diluted Share $0.36Adjusted Net Income $10 Million; Adjusted Earnings per Diluted Share $0.63Adjusted EBITDA $96 Million; Adjusted EBITDA Margin 12.9%Incremental Costs of ~$30 Million Primarily Related to Supply Chain and Transportation Issues FRANKLIN, Tenn., July 25, 2022 (GLOBE NEWSWIRE) -- Kaiser Aluminum Corporation (NASDAQ:KALU), a leading producer of semi-fabricated specialty aluminum products serving customers worldwide with highly-engineered solutions for aerospace and high-strength, packaging, general engineering, custom automotive and other industrial applications, today announced second quarter and first half 2022 results. Second Quarter 2022 Management Summary Results for the second quarter 2022 reflected a very challenging environment as metal and magnesium supply chain issues, predominately related to the Company’s Warrick rolling mill, continued to negatively impact results. Overall, adjusted EBITDA in the second quarter reflected incremental costs of approximately $17 million primarily related to these supply chain issues. While operating performance has been challenging, end market demand remains positive. Demand for the Company’s general engineering and packaging applications remains strong. Improving demand for the Company’s commercial aerospace applications is progressing as anticipated and demand for business jet and defense related applications remains strong. The Company’s automotive business remains muted due to the continued shortage of semiconductor chips that have limited North American vehicle production. Although inflationary cost challenges continue, the Company has been successful in passing through the major...