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KALU

Kaiser Aluminum Corporation

KALU

Kaiser Aluminum Corporation • NASDAQ
$96.05 ▲ 0.25% (+0.24)
Market Cap $1.56 B
52w High $97.63
52w Low $46.81
Dividend Yield 3.08%
P/E 18.61
Volume 53.95K
Outstanding Shares 16.21M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $843.5M ▲ $33.9M ▲ $39.5M ▲ 4.683% ▲ $2.44 ▲ $92.2M ▲
Q2-2025 $823.1M ▲ $32.6M ▼ $23.2M ▲ 2.819% ▲ $1.44 ▲ $72M ▲
Q1-2025 $777.4M ▲ $62.6M ▲ $21.6M ▲ 2.778% ▲ $1.34 ▲ $70M ▲
Q4-2024 $765.4M ▲ $57.4M ▼ $7.1M ▼ 0.928% ▼ $0.44 ▼ $52.1M ▼
Q3-2024 $747.7M $58.5M $12M 1.605% $0.75 $56M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $17.2M ▲ $2.592B ▲ $1.786B ▲ $806.1M ▲
Q2-2025 $13.1M ▼ $2.513B ▲ $1.737B ▲ $776M ▲
Q1-2025 $21.3M ▲ $2.44B ▲ $1.683B ▲ $756.8M ▲
Q4-2024 $18.4M ▼ $2.315B ▲ $1.647B ▲ $668M ▲
Q3-2024 $45.7M $2.311B $1.644B $667M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $0 ▼ $59.1M ▲ $-7.8M ▲ $-47.2M ▼ $4.1M ▲ $34.5M ▲
Q2-2025 $23.2M ▲ $15.9M ▼ $-43.7M ▼ $19.4M ▲ $-8.2M ▼ $-27.7M ▼
Q1-2025 $21.6M ▲ $57M ▲ $-38.2M ▲ $-15.4M ▼ $3.4M ▲ $18.8M ▲
Q4-2024 $7.1M ▲ $43.4M ▲ $-56M ▼ $-13.5M ▲ $-26.1M ▼ $-12.6M ▲
Q3-2024 $2.6M $34.1M $-45M $-13.8M $-24.7M $-17M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Aero Hs Products
Aero Hs Products
 $220.00M ▲$210.00M ▼$230.00M ▲$180.00M ▼
Automotive Extrusions
Automotive Extrusions
 $60.00M ▲$70.00M ▲$70.00M ▲$80.00M ▲
Ge Products
Ge Products
 $150.00M ▲$180.00M ▲$190.00M ▲$190.00M ▲
Packaging
Packaging
 $330.00M ▲$310.00M ▼$340.00M ▲$390.00M ▲
Other Products
Other Products
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown strongly over the past five years, though it has eased slightly from its recent peak. Profitability has improved meaningfully: the company moved from losses in the middle of the period to consistent, but still fairly modest, profits in the last two years. Gross margins are positive but not generous, and operating income leaves only a thin cushion after costs, which is typical for a capital‑intensive metals business. Overall, the income statement shows a company that has stabilized its earnings and is gradually improving, but remains sensitive to volume, product mix, and industry cycles.

Balance Sheet

Balance Sheet The balance sheet shows a sizable industrial asset base funded by a mix of debt and equity, with leverage on the higher side for a cyclical business. Debt has stayed fairly steady in recent years, while equity has edged up as profitability returned, which is a quiet sign of rebuilding financial strength. Cash on hand has come down from earlier elevated levels, leaving less of a cash buffer and increasing reliance on ongoing cash generation and credit lines. The structure is workable but not overly conservative, so downturns or large overruns on projects would matter.

Cash Flow

Cash Flow Cash generation from day‑to‑day operations has turned around from a weak patch and is now consistently positive, aligning with the improvement in reported earnings. However, the company is spending heavily on capital projects, which is squeezing free cash flow and recently pushed it slightly negative. This pattern suggests a deliberate choice to reinvest in growth and higher‑value capacity rather than maximize near‑term cash. The key watchpoint is whether upcoming expansions translate into stronger, more durable cash flows that refill the tank after this investment phase.

Competitive Edge

Competitive Edge Kaiser occupies a differentiated niche in the aluminum industry by focusing on engineered, higher‑value products rather than undifferentiated commodity metal. Its strengths are deep metallurgical know‑how, demanding qualifications in aerospace and automotive, and long, collaborative relationships with large customers in aircraft, autos, and packaging. This specialization supports premium pricing and makes it harder for generic producers to displace Kaiser. At the same time, the company remains exposed to concentrated end markets, industrial cycles, and competition from other specialized aluminum players, so volume swings and pricing pressure are still real risks.

Innovation and R&D

Innovation and R&D Innovation is a clear pillar of the strategy. Kaiser invests in proprietary alloys with high recycled content, eco‑friendly compositions, and advanced aerospace grades, supported by dedicated R&D facilities and sophisticated manufacturing technologies. Branded product families like KaiserSelect signal a focus on consistency, machinability, and performance that matters to high‑end customers. Ongoing projects such as the new coated products line in Warrick and the capacity expansion at Trentwood are aimed at higher‑margin niches in packaging and aerospace. The opportunity is to convert this technical edge and new capacity into durable pricing power; the risk is execution delays or slower‑than‑expected demand growth.

Summary

Overall, Kaiser Aluminum looks like a specialized industrial company that has moved from a period of earnings volatility and occasional losses to steadier, if still thin, profitability. The strategy is clearly to climb the value chain: focus on technically demanding applications, strengthen relationships with blue‑chip customers, and invest in capacity that serves aerospace, automotive, and packaging growth trends. Financially, leverage and limited cash cushions call for careful management, especially while capital spending is elevated. If the company executes well on its expansion and innovation plans, its niche positioning and technical capabilities could further differentiate it within the aluminum sector, while cyclical demand, project execution, and balance‑sheet discipline remain the main areas to monitor.

NEWS

November 17, 2025 · 4:30 PM UTC

Kaiser Aluminum Corporation Announces Appointment of Thomas H. Robb as SVP – Manufacturing

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November 5, 2025 · 4:30 PM UTC

Kaiser Aluminum Corporation Announces Closing of New Senior Notes Offering

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October 27, 2025 · 5:17 PM UTC

Kaiser Aluminum Corporation Announces Pricing of New Senior Notes

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October 27, 2025 · 7:25 AM UTC

Kaiser Aluminum Corporation Announces Proposed Private Placement of New Senior Notes and Conditional Redemption of Outstanding Senior Notes

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October 22, 2025 · 4:30 PM UTC

Kaiser Aluminum Corporation Reports Third Quarter 2025 Financial Results

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