KAISER ALUMINUM CORP

Listed Company

KALUCIK 0000811596NasdaqLarge AcceleratedRolling Drawing & Extruding Of Nonferrous MetalsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$3.37B

Net Income

$112.50M

Total Assets

$2.56B

Equity

$826.10M

Shares Out

16.34M

Op. Cash Flow

$111.40M

Business

KAISER ALUMINUM CORP manufactures and sells semi‑fabricated specialty aluminum mill products for demanding industrial applications. It offers flat‑rolled (plate, sheet, coil), extruded (rod, bar, hollows, shapes), drawn (rod, bar, pipe, tube, wire) and certain cast aluminum products, including engineered KaiserSelect® offerings and coated packaging coil. The company organizes operations around key end‑market segments: Aero/HS Products, Packaging, GE Products, Automotive Extrusions and Other products, supported by flat‑rolling and extrusion/drawing facilities and R&D centers. It sells principally in North America with global sales for aerospace items, using direct sales, metal service centers and independent agents.

Summary from filing dated 2025-02-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	3,373	3,024	3,087	3,428	2,622
Cost of products sold, excluding depreciation and amortization	2,931	2,667	2,728	3,180	2,348
Depreciation and amortization	123	116	109	107	92
Selling, general, administrative, research and development	129	121	123	111	119
Restructuring costs	2	8	5	2	—
Other operating charges, net	0	400,000	0	3	—
Total costs and expenses	3,184	2,912	2,965	3,424	2,558
Operating income	189	112	123	4	64
Interest expense	−50	−44	−47	−48	—
Other income, net - Note 13	11	20	7	6	−39
Income before income taxes	150	88	83	−38	−24
Income tax provision	−38	−22	−15	8	6
Net income	113	66	68	−30	−19
Basic (per share)	6.96	4.08	4.25	−1.86	−1.17
Diluted (per share)	6.77	4.02	4.21	−1.86	−1.17
Basic (shares)	16	16	16	16	16
Diluted (shares)	17	16	16	16	16

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	7	18	82	57	303
Trade receivables, net	395	320	325	297	333
Other	28	22	13	74	53
Contract assets	63	73	59	59	63
Inventories	725	602	551	525	405
Prepaid expenses and other current assets	43	39	35	31	49
Total current assets	1,262	1,075	990	1,043	1,205
Property, plant and equipment, net	1,145	1,161	1,052	1,013	955
Operating lease assets	22	27	33	39	46
Deferred tax assets, net	200,000	4	3	8	3
Intangible assets, net	41	46	50	55	68
Goodwill	19	19	19	19	39
Other assets	76	79	118	112	105
Total assets	2,565	2,410	2,267	2,289	2,422
Accounts payable	275	267	253	305	351
Accrued salaries, wages and related expenses	61	54	53	45	47
Other accrued liabilities	91	79	64	68	58
Total current liabilities	427	401	370	419	457
Long-term portion of operating lease liabilities	22	25	29	35	41
Pension and OPEB	73	71	77	69	93
Deferred tax liabilities	75	44	29	5	11
Long-term liabilities	81	84	82	75	73
Long-term debt, net	1,060	1,042	1,040	1,038	1,036
Total liabilities	1,739	1,667	1,615	1,658	1,730
Commitments and contingencies - Note 10	—	—	—	—	—
Preferred stock, 5,000,000 shares authorized at both December 31, 2025 and December 31, 2024; no shares were issued and outstanding at December 31, 2025 and December 31, 2024	0	0	—	—	—
Common stock, par value $0.01, 90,000,000 shares authorized at both December 31, 2025 and December 31, 2024; 23,045,729 shares issued and 16,210,443 shares outstanding at December 31, 2025; 22,931,184 shares issued and 16,095,898 shares outstanding at December 31, 2024	200,000	200,000	200,000	200,000	200,000
Additional paid in capital	1,133	1,117	1,105	1,090	1,079
Retained earnings	143	81	66	13	93
Treasury stock, at cost, 6,835,286 shares at both December 31, 2025 and December 31, 2024	−476	−476	−476	−476	−476
Accumulated other comprehensive income	27	21	13	3	−4
Total stockholders equity	826	743	708	631	693
Total liabilities and stockholders' equity	2,565	2,410	2,267	2,289	2,422

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation of property, plant and equipment	118	112	103	98	83
Amortization of definite-lived intangible assets	5	5	5	9	9
Amortization and write-off of debt issuance costs	5	2	2	2	2
Deferred income taxes	33	13	14	−12	−11
Non-cash equity compensation	19	14	16	14	13
Non-cash asset impairment charges	2	4	—	24	—
Gain on disposition of property, plant and equipment and asset write-offs, net	−7	−3	−14	—	—
Bad debt expense	400,000	300,000	—	—	—
Non-cash postretirement and postemployment defined benefit plan cost	10	9	13	13	—
Trade and other receivables	−82	−5	33	15	−90
Contract assets	10	−15	100,000	5	−27
Inventories	−125	−50	22	−121	−44
Prepaid expenses and other current assets	1	−10	−3	−2	−900,000
Accounts payable	15	14	−43	−61	113
Accrued liabilities	13	10	7	4	17
Annual variable cash contributions to Salaried VEBA	−700,000	−1	—	—	−2
Long-term assets and liabilities, net	−16	3	−12	−10	−8
Net cash provided by operating activities	111	167	212	−63	79
Capital expenditures	−137	−181	−143	−143	−58
Purchase of equity securities	−400,000	−100,000	−300,000	−300,000	−400,000
Proceeds from sale of equity securities	6	300,000	100,000	—	—
Proceeds from disposition of property, plant and equipment	53	6	15	11	2
Net cash used in investing activities	−78	−175	−128	−126	−666
Borrowings under the Revolving Credit Facility	653	—	215	—	—
Repayment of borrowings under the Revolving Credit Facility	−631	—	−215	—	—
Issuance of 5.875% Senior Notes	500	—	—	—	—
Repayment of principal of 4.625% Senior Notes	−500	—	—	—	—
Cash paid for debt issuance costs	−10	—	—	—	—
Repayment of finance lease	−3	−3	−2	−2	−2
Cancellation of shares to cover tax withholdings upon common shares issued	−3	−2	−2	−3	−3
Cash dividends and dividend equivalents paid	−51	−51	−50	−50	−47
Net cash used in financing activities	−45	−55	−54	−57	109
Net (decrease) increase in cash, cash equivalents and restricted cash during the period	−11	−63	29	−246	−477

Filings

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