Loading...
•
Mar 31, 2020
Kaiser Aluminum Q1 2020 Earnings Report
Reported strong first quarter results with record adjusted EBITDA and EBITDA margin, despite impact from automotive customer facility closings.
Key Takeaways
Kaiser Aluminum Corporation reported a net income of $29 million, or $1.81 per diluted share, for the first quarter of 2020. The company's adjusted EBITDA reached a record $59 million, with an adjusted EBITDA margin of 27.4%.
Net sales were $369 million, while value added revenue was $217 million, a 1% decrease year-over-year.
Net income was $29 million, with net income per diluted share at $1.81.
Adjusted net income was $30 million, with adjusted earnings per diluted share at $1.90.
A record adjusted EBITDA of $59 million and a record adjusted EBITDA margin of 27.4% were achieved.
Revenue by Segment
Forward Guidance
The company anticipates that its commercial aerospace value added revenue could be approximately 20-25% lower in 2020 compared to its record value added revenue in 2019. Demand for the Company's defense business is expected to remain strong through 2020. The Company will suspend providing a full year outlook for 2020 until there is more clarity around the full economic impact of the COVID-19 pandemic.
Positive Outlook
- Began 2020 with a solid book of business
- Reported strong first quarter results
- Achieved record adjusted EBITDA
- Achieved record adjusted EBITDA margin, despite some impact from automotive customer facility closings in the latter part of the quarter
- Demand for the company's defense business is expected to remain strong through 2020
Challenges Ahead
- The pandemic has introduced significant business and economic uncertainty
- The pandemic has introduced significant business and economic challenges
- The pandemic has introduced potential opportunities for the longer-term
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...