Kaiser Aluminum Corporation Declared Q3 2024 Results

SEATTLE (Scrap Monster): Kaiser Aluminum Corporation released their Q3 2024 financial results.

In the third quarter of this year, the company reported a net income of $12 million, or $0.74 income per diluted share. This contrasts with the equivalent quarter of the previous year, when net income was $5 million, or $0.34 income per diluted share. According to a corporate news release, the adjusted EBITDA for the third quarter of this year, which came to $50 million, was $2 million higher than the same period last year.

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The net sales increased to $748 million in third quarter of 2024, upon comparison with $744 million in Q3 last year. The higher net sales were primarily driven by improved pricing. The company reported $595 million in gross liquidity as at September 30, 2024.

The business anticipates that demand will stay in line with its prior projections for the remainder of the current year. Nonetheless, the business kept a cautious short-term forecast for the aerospace and high-strength applications segments.

Kaiser Aluminum Corporation President and Chief Executive Officer Keith A. Harvey commented on the results, saying that despite the market's volatility, the company maintained its good progress on its strategic priorities in the third quarter and produced steady financial performance.

The company will host a conference call on Thursday, October 24, 2024, at 10:00 am ET to discuss its third quarter 2024 results.