Kaiser Aluminum Earnings Up for Q1

Kaiser Aluminum Corp. reported first-quarter earnings of $0.85 per share after market hours Wednesday, coming in slightly above analyst estimates of $0.81 to $0.82.

Net income totaled $16 million compared with $34 million the Foothill Ranch-based maker of semi-fabricated aluminum products posted in the first quarter of 2013. Adjusted earnings for the most recent quarter were $13 million or $0.72 per share.

Revenue was $335 million for the quarter, down from $337 million a year earlier, but still beating analyst estimates of $320 million.

“Overall, our outlook for 2014 remains unchanged,” Chief Executive Jack Hockema said. “We continue to anticipate the supply chain inventory overhang for aerospace plate will persist throughout 2014. While we expect modest improvement in our plate shipments this year compared to 2013, we will also continue to be impacted by pricing pressure on these products.”

Shares of Kaiser Aluminum were down slightly to $72 and a market value of about $1.3 billion on the earnings report.

Copyright and Exemption Declaration :¢ÙAll articles, pictures and videos that are marked with "China Aluminum Network" on this website are copyright and belong to China Aluminium Network (www.alu.com.cn). When transshipment, any media, website or individual must list the source from "China Aluminium Network (www.alu.com.cn)". We seek legal actions against anyone that disobey this. ¢ÚArticles that marked as copy from others are for transferring more information to readers, do not represent or endorse their opinions or accuracy and reliability. When other media, website or individuals copy from our website, must keep the source. Anyone that changes the articles' sources will hold the responsibilities for copyright and law problems. We also seek legal actions against anyone that disobey this. ¢ÛIf any articles copied by our website concern the copyright and other problems, please contact us within one week.