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Sep 30, 2021
Kaiser Aluminum Q3 2021 Earnings Report
Reported mixed results due to strong end market demand offset by supply chain disruptions, labor constraints, and inflationary cost pressures.
Key Takeaways
Kaiser Aluminum reported a net loss of $2 million for Q3 2021, impacted by supply chain issues and rising costs, despite strong end market demand. Adjusted net income was $9 million, and adjusted EBITDA was $50 million.
Net Sales $751 Million; Value Added Revenue $305 Million
Net Loss $2 Million; Net Loss per Diluted Share $0.14
Adjusted Net Income $9 Million; Adjusted Earnings per Diluted Share $0.57
Adjusted EBITDA $50 Million; Adjusted EBITDA Margin 16.5%
Revenue by Segment
Forward Guidance
Value added revenue for the fourth quarter 2021 is anticipated to be up low single digits from the third quarter with adjusted EBITDA margin to remain similar to the third quarter. While our end market demand remains positive, we anticipate cost issues and supply chain disruptions will continue during the quarter.
Positive Outlook
- End market demand remains positive.
- Warrick packaging facility investment is proceeding as planned and will provide additional capacity by early 2024.
- Strategy remains unchanged and well positioned for continued long-term growth.
- Fundamentals of aerospace, automotive and general engineering end markets are solid.
- Optimistic in ability to deliver significant margin expansion and long-term profitability for packaging business.
Challenges Ahead
- Cost issues and supply chain disruptions will continue during the quarter.
- Industry wide disruptions in the magnesium and silicon markets and resulting supply demand imbalances are continuing to evolve and remain uncertain at this time.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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