Overview

* Kaiser Aluminum ( KALU ) Q3 net sales missed analyst expectations

* Adjusted net income for Q3 beats analyst expectations

* Company raises full-year 2025 adjusted EBITDA outlook

Outlook

* Kaiser Aluminum ( KALU ) raises full-year 2025 Adjusted EBITDA outlook by 20% to 25%

* Company expects 2025 Conversion Revenue to be flat to up 5% year-over-year

Result Drivers

* METAL PRICE TAILWINDS - Favorable metal prices offset $20 mln non-recurring startup costs at Trentwood and Warrick facilities

* SHIPMENT DECREASE - Shipments fell 8% due to planned partial outage at Trentwood facility

* INCREASED SALES PRICE - Average realized sales price rose due to 28% increase in Hedged Cost of Alloyed Metal

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Sales Miss $844 mln $850 mln

(2

Analysts

)

Q3 EPS $2.38

Q3 Beat $31 mln $15 mln

Adjusted (2

Net Analysts

Income )

Q3 Net $40 mln

Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the aluminum peer group is "buy"

* Wall Street's median 12-month price target for Kaiser Aluminum Corp ( KALU ) is $90.00, about 11.4% above its October 21 closing price of $79.75

* The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 14 three months ago

Press Release:

For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)