Kaiser Aluminum reports Q1 adjusted EPS $1.02, consensus 57c

Reports Q1 revenue $737.5M, consensus $696.05M. “The year is off to a good start with our first quarter results surpassing our internal expectations on more normalized business conditions with improved operating efficiencies across all platforms,” said Keith Harvey, president and CEO. “Both the general engineering and automotive end markets are off to a faster start than expected at the beginning of the year while aerospace/high strength, which was strong year-over-year, was softer than our original expectations. As a result, we are maintaining our 2024 outlook. The investments we have made and are continuing to make in the business position Kaiser well to benefit from the next stage of our growth strategy in 2025. We remain committed to controlling costs, including the successful execution of our revised metal sourcing strategy, and improving overall operating efficiencies to drive profitable growth.”