Business
Kaiser Aluminum Corporation Reports Third Quarter and Nine Months 2021 Financial Results
Third Quarter 2021 Highlights: Net Sales $751 Million; Value Added Revenue $305 MillionNet Loss $2 Million; Net Loss per Diluted Share $0.14 Adjusted Net
About this update from Kaiser Aluminum Corporation
[{"type":"text","content":"Third Quarter 2021 Highlights: Net Sales $751 Million; Value Added Revenue $305 MillionNet Loss $2 Million; Net Loss per Diluted Share $0.14 Adjusted Net Income $9 Million; Adjusted Earnings per Diluted Share $0.57Adjusted EBITDA $50 Million; Adjusted EBITDA Margin 16.5%End Market Demand Remains RobustSupply Chain Disruptions, Labor Constraints, Higher Input Costs Impacted ResultsWarrick Integration and Capital Investment Proceeding as Planned Nine Months 2021 Highlights: Net Sales $1,816 Million; Value Added Revenue $795 Million Net Loss $20 Million; Net Loss per Diluted Share $1.28 Includes Pre-tax Charges of $36 Million or $1.73 per Diluted Share, After-Tax, Related to Senior Notes RefinancingAdjusted Net Income $35 Million; Adjusted Earnings per Diluted Share $2.21Adjusted EBITDA $147 Million; Adjusted EBITDA Margin 18.4% FOOTHILL RANCH, Calif., Oct. 20, 2021 (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 third quarter and nine months 2021 results. Third Quarter 2021 Management Summary “Results for the third quarter 2021 reflected both strong end market demand and the impact of supply chain disruptions, labor constraints and inflationary cost pressures,” said Keith A. Harvey, President and Chief Executive Officer. “The integration of the Warrick packaging operation is proceeding as planned and continues to demonstrate strong strategic growth opportunities as demand for our applications continues to increase. Demand for our general engineering end market applications remains robust due to restocking in the service center supply chain, reshoring and strength of our KaiserSelect® products. Recovery in demand for our commercial aerospace applications is progressing as anticipated and demand for our defense related applications remains strong. However, the ongoing shortage of semiconductor chips has significantly impacted North American light vehicle production, further delaying the anticipated recovery of our automotive business. “Although we had noted some inflationary costs pressures from rising freight, labor and material costs in the second quarter, du...