Kaiser Aluminum Corporation Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 25, 2023 at 04:42 pm EDT
Share
Kaiser Aluminum Corporation reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 814.1 million compared to USD 954.2 million a year ago. Net income was USD 18.3 million compared to net loss of USD 13.8 million a year ago. Basic earnings per share from continuing operations was USD 1.14 compared to basic loss per share from continuing operations of USD 0.87 a year ago. Diluted earnings per share from continuing operations was USD 1.14 compared to diluted loss per share from continuing operations of USD 0.87 a year ago.
For the six months, sales was USD 1,621.7 million compared to USD 1,903 million a year ago. Net income was USD 34.2 million compared to net loss of USD 5.7 million a year ago. Basic earnings per share from continuing operations was USD 2.14 compared to basic loss per share from continuing operations of USD 0.36 a year ago. Diluted earnings per share from continuing operations was USD 2.12 compared to diluted loss per share from continuing operations of USD 0.36 a year ago.
Kaiser Aluminum Corporation is a producer of semi-fabricated specialty aluminum products. The Company's fabricated aluminum mill products include flat-rolled (plate, sheet, and coil), extruded (rod, bar, hollows, and shapes), drawn (rod, bar, pipe, tube and wire) and certain cast aluminum products. Its business focuses on producing rolled, extruded, and drawn aluminum products used principally for aerospace and defense, aluminum beverage and food packaging, general engineering that include consumer durables, electronics and products for electrical and machinery and equipment applications and automotive products. It provides its products for a range of market applications, including aerospace and high strength (Aero/HS products); beverage and food packaging products (Packaging); general engineering (GE products); automotive (Automotive Extrusions), and other products. Its Automotive Extrusions consist of extruded aluminum products for many North American automotive applications.