Kaiser Aluminum sees adjusted EBITDA margin improvement in FY24

The company said, “The Company expects demand across its end markets in 2024 to remain relatively consistent with 2023 with the potential for a modest upside. In aerospace/high strength applications, the Company remains cautious on its near-term outlook for the commercial aerospace market due to lower than expected 2024 build rates resulting in reduced anticipated shipments and conversion revenue year-over-year. In the packaging market, shipments are expected to improve from current levels, which were negatively impacted due to various outages during the first half of 2024. In the general engineering and automotive extrusions markets, typical seasonality and summer shutdowns, respectively, in the second half of the year are expected to result in a slight headwind to shipments. Accordingly, for the full year 2024, the Company expects conversion revenue to be flat to up 1% and adjusted EBITDA margins to improve 50 to 100 basis points over 2023 as it implements cost reduction measures in its operations, increases manufacturing efficiencies and executes its strategic growth initiatives.”