Kaiser Aluminum reports Q2 adjusted EPS 65c, consensus 91c

Reports Q2 revenue $773.4M, consensus $773.65M. “Our business continued to perform well during the second quarter as demand met or exceeded our expectations,” said Keith Harvey, President and Chief Executive Officer. “Importantly, aerospace/high strength demand remained steady at strong levels, illustrating the benefits of our diversified product mix. Our net income of $3 million and adjusted EBITDA of $54 million reflected the impact of a $9 million unfavorable non-cash LIFO charge related to significant inventory reductions we made during the quarter, consistent with our focus on managing working capital.”