Welcome to our dedicated page for Kaiser Aluminum Corporation news (Ticker: KALU), a resource for investors and traders seeking the latest updates and insights on Kaiser Aluminum Corporation stock.
Kaiser Aluminum Corporation (NASDAQ: KALU) is a prominent producer of semi-fabricated specialty aluminum products, headquartered in Franklin, Tennessee. Since its founding in 1946, Kaiser Aluminum has been dedicated to quality, innovation, and customer service, which are the pillars of its long-standing reputation.
The company primarily serves industrial customers, offering a diverse range of highly-engineered aluminum solutions for various markets including aerospace, high-strength packaging, general engineering, automotive extrusions, and other industrial applications. Their product portfolio includes fabricated aluminum mill products such as flat-rolled (plate, sheet, and coil), extruded (rod, bar, hollows, and shapes), drawn (rod, bar, pipe, tube, and wire), and certain cast aluminum products.
Kaiser Aluminum's operations are strategically located across North America, where each facility specializes in specific markets and processes. This specialization allows Kaiser to maintain high standards of quality and efficiency. The company's innovative approach is powered by its metallurgists, engineers, and sales personnel, who work closely with customers to exceed their expectations.
Highlighted by recent achievements, Kaiser Aluminum reported strong second quarter 2023 results, with adjusted EBITDA increasing significantly over the previous year. This success was driven by rebounding demand in key markets, particularly aerospace, where conversion revenue surpassed pre-pandemic levels. The company’s ability to flex capacity to accommodate rising demand positions it strongly for future growth.
Financially, Kaiser Aluminum remains robust. As of June 30, 2023, the company had cash and cash equivalents of $20 million and borrowing availability of $538 million under its revolving credit facility. This financial strength supports ongoing investments in growth initiatives, such as the new roll coat line at the Warrick facility, which is expected to enhance product quality and operational efficiency.
The company's stock is included in the Russell 2000® index and the S&P Small Cap 600® index, reflecting its stable market presence. For ongoing updates and detailed financial information, investors are encouraged to visit the investor relations section of Kaiser Aluminum's website.
Kaiser Aluminum Corporation (Nasdaq: KALU) has announced the pricing of $550 million in 4.50% senior notes due 2031, marking a $50 million increase over its prior offering size. The offering will be guaranteed by current and future subsidiaries involved in its revolving credit facility. Proceeds will be used to redeem $350 million of its existing 6.500% senior notes due 2025 and for general corporate purposes. The offering is expected to close on May 20, 2021, subject to customary conditions.
Kaiser Aluminum Corporation (Nasdaq: KALU) announced plans to offer $500 million in senior notes due 2031 in a private transaction exempt from registration requirements. The company will use the proceeds to redeem $350 million of its existing 6.500% senior notes due 2025 and for general corporate purposes, including potential acquisitions. The offering is contingent on market conditions, and a conditional notice for the 2025 notes' redemption has been provided. All guarantees will come from Kaiser Aluminum’s existing and future domestic subsidiaries.
Kaiser Aluminum Corporation (NASDAQ:KALU) reported first quarter 2021 net sales of $324 million, a 23% increase compared to the second half of 2020, with value-added revenue reaching $172 million, up 12%. The company achieved an adjusted EBITDA of $38 million, marking a 25% rise, with a 21.8% margin. Notably, KALU completed the $670 million acquisition of Alcoa Warrick LLC, enhancing its packaging market presence. However, net income fell to $5 million ($0.28 per diluted share) compared to $29 million ($1.81) in the prior year due to the impact of COVID-19 on aerospace demand.
Kaiser Aluminum Corporation (NASDAQ:KALU) is set to release its Q1 2021 financial results on April 28, 2021, after market close. A conference call will follow on April 29, 2021, at 10:00 a.m. Pacific Time. The call is accessible via a dedicated phone line or a live webcast on the company's website. As a leading producer of specialty aluminum products, Kaiser Aluminum serves various sectors, including aerospace and automotive, and is part of the Russell 2000® and S&P Small Cap 600® indices.
Kaiser Aluminum Corporation (NASDAQ: KALU) has declared a quarterly cash dividend of $0.72 per share. This dividend will be payable on May 14, 2021, to shareholders of record as of April 23, 2021. Headquartered in Foothill Ranch, California, Kaiser Aluminum specializes in semi-fabricated aluminum products for various sectors, including aerospace and automotive. The company is a part of both the Russell 2000® index and the S&P Small Cap 600® index.
Kaiser Aluminum Corporation (NASDAQ: KALU) has acquired Alcoa Warrick LLC's Warrick Rolling Mill for $670 million, emphasizing a strategic re-entry into the aluminum packaging industry. The acquisition involves a long-term ground lease and includes transition services and a molten aluminum supply agreement. With this expansion, Kaiser aims to enhance its market position and diversify its portfolio, taking advantage of strong demand in the beverage and food packaging markets. The acquisition closed on March 31, 2021, funded through available cash and post-employment benefits liabilities.
Kaiser Aluminum Corporation (NASDAQ:KALU) reported full-year 2020 net sales of $1,173 million, down 20% year-over-year, primarily due to a significant decline in commercial aerospace demand. Adjusted net income fell to $48 million ($3.01 per diluted share) compared to $111 million ($6.85 per diluted share) in 2019. Despite challenges, adjusted EBITDA remained solid at $154 million with a margin of 22.1%. The company anticipates a 5% to 10% increase in value-added revenue for 2021, driven by strong automotive and defense demand, while commercial aerospace is expected to decline by 5% to 8%. A transformative acquisition of Alcoa Warrick LLC is set to close on March 31, 2021.
Kaiser Aluminum Corporation (NASDAQ:KALU) plans to release its fourth quarter and full year 2020 financial results on February 24, 2021, after market close. A quarterly conference call will follow on February 25, 2021, at 10:00 a.m. Pacific. Interested parties can access the call via a U.S. or international number provided in the release. Kaiser Aluminum, based in Foothill Ranch, California, specializes in semi-fabricated specialty aluminum products, serving various industries globally. Its stock is part of the Russell 2000® and S&P Small Cap 600® indices.
Kaiser Aluminum Corporation (NASDAQ:KALU) has declared a quarterly cash dividend of $0.72 per share, marking a 7.5% increase from the previous quarter. The dividend is set to be paid on February 12, 2021, to shareholders of record as of January 25, 2021.
President and CEO Keith A. Harvey highlighted the company's confidence in its long-term outlook and the potential value creation from the planned acquisition of the Warrick Rolling Mill from Alcoa, emphasizing strong demand growth in the packaging sector.
Kaiser Aluminum Corporation (NASDAQ:KALU) has announced an agreement to acquire Alcoa Warrick LLC for $670 million, enhancing its portfolio in the North American aluminum packaging industry. The acquisition, which includes the Warrick Rolling Mill, will be immediately accretive to earnings and is projected to generate positive cash flow. This transaction aligns with Kaiser Aluminum's strategy to diversify and strengthen its operations by entering a non-cyclic packaging sector, driven by the increasing demand for sustainable aluminum packaging.
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