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Kaiser Aluminum Corp (KALU)
NASDAQ:KALU
Earnings Data
Report Date
Apr 29, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
1.75Last Year’s EPS
1.44Same Quarter Last Year
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a largely positive outlook: Kaiser delivered record adjusted EBITDA, significant margin expansion (+470 bps), improved net income and leverage, successful refinancing, and commissioning of strategic assets (coating line, Trentwood Phase V). Several end markets (packaging, general engineering) showed growth, and management expects 2026 to be a year of harvesting returns with conversion revenue +5%–10% and EBITDA +5%–15%. Near-term headwinds include a 5% decline in total shipments, a notable 14% decline in aerospace conversion revenue in 2025, $47 million of nonrecurring start-up costs, working capital pressure from rising metal prices ($168 million usage), and planned automotive outages and incremental CapEx. Management articulated clear plans to drive operational improvements and limit reliance on metal price tailwinds. On balance, highlights (record profitability, margin gains, refinancing, asset commissioning, positive 2026 outlook) outweigh the lowlights (shipment declines, start-up costs, metal price and working capital exposure), supporting a positive sentiment.Company Guidance
Record EBITDA and Margin Expansion
Adjusted EBITDA of $310 million for 2025, up ~$69 million YoY; adjusted EBITDA margin on conversion revenue improved to 21.3% (+470 basis points vs. 16.6% in 2024). Management described 2025 as record EBITDA and second-half margins improving to ~24%.
Strong Net Income and EPS Improvement
Reported net income of $113 million ($6.77 per diluted share) vs. $66 million ($4.02) in prior year; adjusted net income of $100 million ($6.03 per diluted share) vs. $60 million ($3.67) in 2024.
Packaging Segment Outperformance and Asset Commissioning
Packaging conversion revenue of $544 million, up $54 million (~11% YoY). New coating line at West fully commissioned and qualified, shifting mix toward higher-value coated products (coated volumes now ~75% and growing); expected packaging conversion revenue growth of 15%–20% in 2026.
General Engineering Growth
General engineering conversion revenue of $331 million, up $14 million (~4% YoY) on a 6% increase in shipments, with continued tailwinds from tariff-driven reshoring and KaiserSelect quality attributes; management expects shipments and conversion revenue to grow ~3%–5% in 2026.
Successful Refinancing and Improved Leverage
Completed $500 million senior notes offering due 2034, redeemed 2028 notes, extended $575 million revolver to Oct 2030. Net debt leverage improved to 3.4x at year-end vs. 4.3x at Dec 31, 2024.
Strong Liquidity and Capital Return
Liquidity of ~$547 million at year-end (cash ~$7 million plus ~$540 million revolver availability). Returned ~$51 million to shareholders via dividends in 2025 (19th consecutive year) and declared quarterly dividend of $0.77/share in Jan 2026.
Operational Investments Laying Foundation for 2026
Completed key growth projects (Warwick coating line and Trentwood Phase V expansion). Company expects to 'harvest returns' in 2026 with initial outlook of conversion revenue +5%–10% and EBITDA +5%–15% driven primarily by operational execution.
Aerospace and Defense Recovery Positioning
Although aerospace revenue fell in 2025, management expects aerospace shipments to increase 10%–15% in 2026 and conversion revenue up 5%–10% as OEM production recovers and Trentwood plate capacity returns following Phase 7 installation.
KALU Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
KALU Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 18, 2026 | $139.38 | $127.05 | -8.85% |
Oct 14, 2025 | $78.72 | $78.87 | +0.20% |
Jul 23, 2025 | $90.54 | $86.12 | -4.88% |
Apr 23, 2025 | $56.87 | $60.25 | +5.94% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Kaiser Aluminum Corp (KALU) report earnings?
Kaiser Aluminum Corp (KALU) is schdueled to report earning on Apr 29, 2026, After Close (Confirmed).
What is Kaiser Aluminum Corp (KALU) earnings time?
Kaiser Aluminum Corp (KALU) earnings time is at Apr 29, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is KALU EPS forecast?
KALU EPS forecast for the fiscal quarter 2026 (Q1) is 1.75.