This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Kaiser Aluminum Corporation Reports First Quarter 2013 Financial Results

First Quarter Highlights:

  • Solid 1Q'13 Underlying Results Reflect Mild Headwinds Following 2012 Demand Surge
  • Commenced ~$100 Million Organic Investment for Future Aerospace and Automotive Growth
  • Share Repurchases of ~$16 Million; $75 Million Increased Board Authorization

FOOTHILL RANCH, Calif., April 23, 2013 (GLOBE NEWSWIRE) -- Kaiser Aluminum Corporation (Nasdaq:KALU) today reported net income of $34 million or $1.73 earnings per diluted share for the first quarter 2013 compared to $27 million, or $1.38 earnings per diluted share for the first quarter 2012. Excluding the impact of non-run-rate items and an $8 million Canadian tax benefit, adjusted net income was $20 million or $1.03 per diluted share for the first quarter 2013, compared to adjusted net income of $21 million or $1.09 per diluted share for the prior year first quarter. The current-year quarter reflects the benefit of revenue related to a $4.5 million payment from a customer in lieu of fulfilling minimum volume obligations under a multi-year contract.

Value added revenue of $187 million for the first quarter 2013 declined from $195 million in the prior year first quarter reflecting mild headwinds. Weaker demand during the quarter driven by modest inventory overhang in the aerospace supply chain, relatively flat automotive build rates and weak supply chain demand for the Company's general industrial applications was partially offset by $4.5 million of revenue related to the customer payment referenced above.

Adjusted consolidated EBITDA was $48 million or 26% of value added revenue in the first quarter 2013 compared to adjusted consolidated EBITDA of $44 million or 23% of value added revenue for the prior year quarter. Adjusted consolidated EBITDA and EBITDA margin for the first quarter 2013 were up on lower value added revenue due to improved underlying manufacturing efficiencies, lower contained metal costs, and the impact of the customer payment recognized during the quarter.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs