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Kaiser Aluminum Down 8.88% To $66.88 After Earnings Miss

Tuesday, July 26, 2022 12:02 PM | InvestorsObserver Analysts

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Kaiser Aluminum Down 8.88% To $66.88 After Earnings Miss

Kaiser Aluminum (KALU) said after close Monday that it lost $0.03 per share in quarter two 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $954.2 million, beating estimates by $43.9 million.

In the same quarter a year ago, the company earned $1 per share on revenue of $741 million.

The stock is down 8.88% to $66.88 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 17. Meanwhile, the average Wall Street analyst rated the stock a Hold.

Kaiser Aluminum Corp produces and sells semi-fabricated specialty aluminum products primarily to industrial customers. The firm purchases primary and scrap aluminum, primarily from its five largest suppliers, and processes it into specialized value-added products. The company hedges its aluminum costs in an attempt to match commodity price changes between the time it purchases the raw materials and sells the finished products. Kaiser produces high-strength aluminum products for the aerospace industry, specialized aluminum extrusions for the automotive industry, and also sells products to customers in the general engineering industry. Nearly all of Kaiser's revenue is generated in the US, with the remainder coming from Canada. The company's operations are also located in the US and Canada.

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