Welcome to our dedicated page for Kaiser Aluminum news (Ticker: KALU), a resource for investors and traders seeking the latest updates and insights on Kaiser Aluminum stock.
Kaiser Aluminum Corporation reports business updates for a specialty aluminum producer serving aerospace and high-strength, packaging, general engineering, automotive extrusion and other industrial applications. The company's North American facilities make value-added plate, sheet, coil, extrusions, rod, bar, tube and wire products for customers worldwide.
Recurring news includes quarterly and annual operating results, conversion revenue by end-market application, demand and product-mix commentary, cash dividend declarations and leadership changes in commercial and manufacturing functions. Company updates also discuss leverage, scrap spreads, packaging mix, aerospace demand and manufacturing activity when tied to operating performance.
Kaiser Aluminum (NASDAQ:KALU) has announced a quarterly cash dividend of $0.77 per share. The dividend is set to be paid on November 15, 2024 to stockholders of record as of the close of business on October 25, 2024. This announcement comes from the company's Board of Directors, demonstrating their commitment to returning value to shareholders.
Kaiser Aluminum (NASDAQ: KALU) has announced its plans to release its third quarter 2024 financial and operating results on Wednesday, October 23, 2024, after the market closes. The company will host a quarterly conference call on Thursday, October 24, 2024, at 9:00 a.m. Central Time.
Investors can access the conference call directly from the U.S. and Canada at (877) 423-9813 and internationally at (201) 689-8573. The conference call ID number is 13748959. A live webcast and related presentation slides will be available through the Investors section of the company's website at https://investors.kaiseraluminum.com. An audio archive will be made available on the company's website following the call.
Kaiser Aluminum (NASDAQ:KALU) announced its second quarter 2024 financial results. The company reported net sales of $773 million, a 5% decrease from $814 million in Q2 2023, largely due to a 6% drop in shipments. Net income was $3 million, translating to $0.19 per diluted share, down from $18 million and $1.14 per share in the prior year. Adjusted net income stood at $11 million or $0.65 per diluted share.
Despite a $9 million unfavorable non-cash LIFO charge, adjusted EBITDA was $54 million with a 14.5% EBITDA margin. The aerospace/high-strength sector reported net sales of $226 million, showing a 2% increase in conversion revenue. Packaging applications fell 11% to $312 million due to an outage at the Warrick facility. Automotive extrusions saw a 9% rise to $70 million.
The company anticipates flat to 1% growth in conversion revenue and improved EBITDA margins by 50-100 basis points in 2024. Total liquidity was $618 million as of June 30, 2024, bolstered by cash and credit availability.
Kaiser Aluminum (NASDAQ:KALU) has announced a quarterly cash dividend of $0.77 per share. The dividend will be paid on August 15, 2024 to stockholders of record as of the close of business on July 25, 2024. This announcement demonstrates the company's commitment to returning value to shareholders through consistent dividend payments.
Kaiser Aluminum (NASDAQ: KALU) will release its second quarter 2024 financial and operating results on July 24, 2024, after the market closes. The company will hold a conference call to discuss these results on July 25, 2024, at 9:00 a.m. Central Time. Investors can access the call from the U.S. and Canada at (877) 423-9813 or internationally at (201) 689-8573, using the conference call ID number 13747332. A live webcast and presentation slides will be available on the company's investor relations website, with an audio archive accessible following the call.
Kaiser Aluminum (NASDAQ: KALU) released its 2023 Sustainability Report, highlighting significant achievements in sustainability aligned with its corporate values.
Key points include the completion of a materiality assessment to integrate stakeholder perspectives, a 4% reduction in Scope 1 and 2 GHG emissions, progress towards 2030 GHG reduction targets, and efforts to use lower carbon electricity sources.
CEO Keith A. Harvey emphasized that the infinite recyclability of aluminum positions the company well for sustainable growth.
Kaiser Aluminum (NASDAQ: KALU) announced a change in the location for its 2024 Annual Meeting of Stockholders.
The meeting will now take place at the company's corporate office in Franklin, Tennessee, at 1550 West McEwen Drive, Suite 500.
The date and time remain unchanged: Tuesday, June 11, 2024, at 9:00 a.m. Central Time.
Further details are available in the proxy supplement filed with the SEC on May 21, 2024.
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