Kaiser Aluminum Stock Price, News & Analysis

Kaiser Aluminum Corporation (NASDAQ:KALU) reported its first quarter 2023 results, achieving net sales of $808 million, a decrease from $949 million in the prior year period. The net income was $16 million, or $0.99 per diluted share, compared to $8 million or $0.51 in the same quarter last year. Conversion revenue rose to $369 million, a 4% increase, largely driven by a 39% increase in aerospace/high strength applications. The company reported strong liquidity at $546 million, supported by cash reserves of $32 million and $514 million available from its revolving credit facility. Looking ahead, Kaiser expects continued demand growth in commercial aerospace but anticipates challenges in packaging due to destocking. The company aims for capital investments between $170 million to $190 million in 2023.

Kaiser Aluminum Corporation (NASDAQ:KALU) has declared a quarterly cash dividend of $0.77 per share, payable on May 15, 2023, to shareholders on record as of April 25, 2023. This decision reflects the company's commitment to returning value to shareholders amidst its operations in producing specialty aluminum products across various sectors including aerospace, automotive, and packaging. The corporation's North American facilities deliver a diverse range of aluminum products while adhering to high standards of quality and service.

Since its founding in 1946, Kaiser Aluminum has evolved to maintain its presence in stock indices like the Russell 2000® and the S&P Small Cap 600®. The announcement underscores the company’s financial health and intention to sustain shareholder returns.