Loading prices...

Register/Sign in
ScrapMonster
Aluminum April 29, 2024 04:40:32 PM

Kaiser Aluminum Q1 Results Beat Analyst Forecasts

Paul Ploumis
ScrapMonster Author
Also, the EBITDA margins are expected to improve by 70-170 basis points over the previous year.

Kaiser Aluminum Q1 Results Beat Analyst Forecasts

SEATTLE (Scrap Monster): Kaiser Aluminum Corporation announced financial results for the first quarter of the current year. The quarterly results by the company surpassed analyst forecasts.

The net sales for the quarter recorded modest decline to $738 million, upon comparison with $808 million during the year-ago quarter. The Q1 2024 net income stood at $25 million, or $1.51 income per diluted share. This compares with net income and income per diluted share of $16 million and $0.99, respectively, in the prior year period. The adjusted net income per diluted share was $1.02 in Q1 2024, compared with adjusted net income of $0.42 per diluted share for the initial quarter of 2023. Kaiser Aluminum reported $62 million of adjusted EBITDA during Q1 2024.

The company expects demand to show improvement across the majority of its end markets throughout 2024. It maintained a more cautious outlook on demand from aerospace and high strength applications. It foresees 2-3% surge in conversion revenue for the full year 2024. Also, the EBITDA margins are expected to improve by 70-170 basis points over the previous year.

Keith A. Harvey, President and Chief Executive Officer noted that the investments made by the company will help it reap benefits from the next stage of its growth strategy in 2025.

YOU MAY ALSO BE INTERESTED IN:

Kaiser Aluminum: USW Ratified New Labor Agreement at Warrick Rolling Mill

EVERY CAN COUNTS Launched in the United States with a Mardi Gras Recycling Initiative

How to Recycle

Simple Ways to Dispose of Tires

Simple Ways to Dispose of Tires

Are you in search of some simple and eco-friendly methods to help you responsibly dispose of tires, then read our blog post to learn more.
Recycling and Disposal of Light Bulbs – More to Know

Recycling and Disposal of Light Bulbs – More to Know

Proper disposal of all types of light bulbs, protects the environment and recovers valuable materials.
How to Get Rid of Shredded Paper - Recycling Options

How to Get Rid of Shredded Paper - Recycling Options

Thinking how to get rid of shredded paper? Well, there are many recycling options. Read More.
powered by RecyclingMonster
×

Quick Search

Advanced Search