AI Earnings Predictions for Kaiser Aluminum Corporation (KALU)

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EX-99.1

2 kalu-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

Kaiser Aluminum Corporation Reports

Record First Quarter 2026 Financial Results

First Quarter 2026 Highlights:

o Established Record Results in the Following:

o Net Sales $1.1 Billion; Conversion Revenue $404 Million

o Net Income $63 Million; Net Income per Diluted Share $3.71

o Adjusted Net Income $63 Million; Adjusted Net Income per Diluted Share $3.74

o Adjusted EBITDA $129 Million; Adjusted EBITDA Margin 31.8%

o Declared Quarterly Dividend of $0.77

o Net Debt Leverage Ratio Improved to 2.8x

o Raising Full Year Outlook

FRANKLIN, Tenn., April 22, 2026 - Kaiser Aluminum Corporation (NASDAQ: KALU) (the "Company" or "Kaiser"), a leading producer of semi-fabricated specialty aluminum products serving customers worldwide with highly-engineered solutions for aerospace and high strength, packaging, general engineering, and automotive extrusions end market applications, today announced first quarter 2026 results.

Management Commentary

“Our strong finish to 2025 carried into 2026, giving us the confidence to raise our full year outlook,” said Keith A. Harvey, Chairman, President and Chief Executive Officer. “EBITDA growth was driven by a higher value packaging mix, improving aerospace demand, widening scrap spreads and strong customer activity across all end markets, supplemented by metal lag gains. These results reflect the structural improvements taking hold across the business and the earnings power we are unlocking as our strategic initiatives advance.”

First Quarter 2026 Consolidated Results

(Unaudited)*

(In millions of dollars, except shipments, realized price, and per share amounts)

Quarter Ended March 31,

2026

2025

Shipments (millions of lbs.)

294

276

Net sales

$

1,107

$

777

Less: Hedged Cost of Alloyed Metal1

(702

)

(414

)

Conversion Revenue

$

404

$

363

Realized price per pound ($/lb.)

Net sales

$

3.76

$

2.82

Less: Hedged Cost of Alloyed Metal

(2.39

)

(1.50

)

Conversion Revenue

$

1.37

$

1.32

As reported

Operating income

$

98

$

41

Net income

$

63

$

22

Net income per share, diluted2

$

3.71

$

1.31

Adjusted3

Operating income

$

98

$

43

EBITDA4,6

$

129

$

73

EBITDA margin5

31.8

%

20.2

%

Net income

$

63

$

24

EPS, diluted2

$

3.74

$

1.44

1. Hedged Cost of Alloyed Metal for the quarters ended March 31, 2026 and March 31, 2025 included $709.9 million and $418.8 million, respectively, reflecting the cost of aluminum at the average Midwest Transaction Price and the cost of alloys used in the production process, as well as metal price exposure on shipments that the Company hedged with realized gains upon settlement of $7.5 million and $4.6 million in the quarters ended March 31, 2026 and March 31, 2025, respectively, all of which were included within both Net sales and Cost of products sold, excluding depreciation and amortization in the Company’s Statements of Consolidated Income.

2. Diluted shares for EPS are calculated using the two-class method.

3. Adjusted numbers exclude non-run-rate items. For all Adjusted numbers and EBITDA refer to Reconciliation of Non-GAAP Measures.

4. Adjusted EBITDA = Consolidated operating income, excluding operating non-run-rate items, plus Depreciation and amortization.

5. Adjusted EBITDA margin = Adjusted EBITDA as a percent of Conversion Revenue.

6. Includes favorable metal price lag of approximately $36.0 million and approximately $21.0 million for the quarters ended March 31, 2026 and March 31, 2025, respectively. Metal price lag represents management’s estimate of the financial impact resulting from the timing difference between aluminum prices included within Hedged Cost of Alloyed Metal and the weighted average market price for aluminum during the period, based on the Midwest Transaction Price, multiplied by our shipment volume during the periods. Metal price lag will generally increase our earnings in times of rising primary aluminum prices and decrease our earnings in times of declining primary aluminum prices.

 Please refer to GAAP financial statements, totals may not sum due to rounding.

First Quarter 2026 Financial Highlights

Net sales for the first quarter 2026 increased to $1.1 billion compared to $777 million in the prior year period, driven by higher shipments and an increase in average realized sales price. Shipments for the first quarter 2026 improved 7% year-over-year, primarily due to strong underlying demand in the Company's packaging end market for coated products and higher aerospace build rates as destocking continues to abate. The increase in average realized sales price reflects a 70% increase in the Hedged Cost of Alloyed Metal, a direct pass through as a function of contracted selling price.

Conversion Revenue for the first quarter 2026 was $404 million, reflecting an 11% increase compared to the prior year period, primarily due to a strong pricing environment and improved product mix in the Company'

8-K

0000811596falseKAISER ALUMINUM CORP00008115962026-02-182026-02-18

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 18, 2026

KAISER ALUMINUM CORPORATION

(Exact name of Registrant as Specified in Its Charter)

Delaware

1-09447

94-3030279

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

1550 West McEwen Drive Suite 500

Franklin, Tennessee

37067

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: (629) 252-7040

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common stock, par value $0.01 per share

KALU

Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition. On February 18, 2026, Kaiser Aluminum Corporation (the “Company”) issued a press release reporting its preliminary financial results for the year ended December 31, 2025. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference into this Item 2.02. The information in Item 2.02, including Exhibit 99.1, of this Current Report on Form 8-K shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and shall not be deemed incorporated by reference into any filing by the Company under the Securities Act of 1933, as amended, or the Exchange Act, unless specifically identified therein as being incorporated therein by reference. Item 9.01. Financial Statements and Exhibits. (d)Exhibits.

Exhibit Number

Description

99.1

Press release dated February 18, 2026.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

KAISER ALUMINUM CORPORATION

(Registrant)

By:

/s/ Cherrie I. Tsai

Cherrie I. Tsai

Vice President, Deputy General Counsel and Corporate Secretary

Date: February 18, 2026