Kaiser Aluminum Corporation
- Open
- 164.69
- Day high
- 167.20
- Day low
- 162.23
- Prev close
- 163.31
- Volume
- 210K
- Mkt cap
- $2.7B
- P/E (TTM)
- 11.7
- EPS (TTM)
- $13.95
- P/B
- 2.8
- P/S
- 0.6
- Yield
- 1.89%
- Per share
- $3.08
Kaiser Aluminum Corporation (KALU) is a Basic Materials company listed on NASDAQ. The stock is up 117% over the past year. Drillr has 2 published research articles covering KALU.
Kaiser Aluminum Corporation (KALU) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
KALU earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 23, 2026 | $2.68 | $5.53 | +106.7% | $1.3B | +13.1% |
| Apr 23, 2026 | $2.00 | $3.74 | +86.6% | $1.1B | +11.4% |
| Feb 18, 2026 | $1.56 | $1.53 | -1.9% | $929M | +2.1% |
| Oct 22, 2025 | $0.80 | $1.86 | +132.5% | $844M | -6.5% |
| Jul 23, 2025 | $0.49 | $1.21 | +146.9% | $823M | -2.8% |
| Apr 23, 2025 | $0.53 | $1.44 | +171.7% | $777M | -2.8% |
| Feb 19, 2025 | $0.63 | $0.33 | -47.6% | $765M | +1.8% |
| Oct 23, 2024 | $0.67 | $0.51 | -23.9% | $748M | -0.4% |
| Jul 24, 2024 | $0.94 | $0.65 | -30.9% | $773M | -1.4% |
| Feb 21, 2024 | $-0.12 | $0.60 | +600.0% | $722M | +0.4% |
| Oct 25, 2023 | $0.40 | $0.46 | +15.0% | $744M | -5.6% |
| Jul 25, 2023 | $0.46 | $1.26 | +173.9% | $814M | -0.3% |
KALU insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 5, 2026 | Glas Kimberly Thompsondirector | Grant | 786 | — |
| Jun 5, 2026 | MINOR GLENDA Jdirector | Grant | 786 | — |
| Jun 5, 2026 | MINOR GLENDA Jdirector | Grant | 335 | $178.10 |
| Jun 5, 2026 | arnold michael cdirector | Grant | 786 | — |
| Jun 5, 2026 | HOFFMAN JAMES DONALDdirector | Grant | 786 | — |
| Jun 5, 2026 | STEBBINS DONALD Jdirector | Grant | 631 | $178.10 |
| Jun 5, 2026 | Foster David Adirector | Grant | 786 | — |
| Jun 5, 2026 | Wilcox Brettdirector | Grant | 328 | $178.10 |
| Jun 5, 2026 | HOFFMAN JAMES DONALDdirector | Grant | 589 | $178.10 |
| Jun 5, 2026 | Grimley Richard P.director | Grant | 786 | — |
| Jun 5, 2026 | STEBBINS DONALD Jdirector | Grant | 786 | — |
| Jun 5, 2026 | Wilcox Brettdirector | Grant | 786 | — |
| May 1, 2026 | Harvey Keithdirector, officer: President & CEO | Sell | 3,031 | $173.13 |
| May 1, 2026 | Grimley Richard P.director | Sell | 1,524 | $171.52 |
| Apr 29, 2026 | West Neal Eofficer: EVP & CFO | Sell | 5,000 | $173.29 |
Source: KALU SEC Form 4 filings, latest Jun 5, 2026. For informational purposes only — not investment advice.
See the full KALU insider & 13F page →KALU research & analysis
Iran Airstrike Squeezes Aluminum Supply — AA, CENX Among Top 5 Winners
Airstrike on Iran's IRALCO on April 7, 2026, tightens aluminum supply, favoring US producers CENX, AA, CSTM, KALU, and RIO with higher premiums and margins. CENX tops conviction on pure-play smelting and 14% revenue growth; all show strong TTM gains amid 71% EBITDA surges for leaders.
AACENXCSTMWhich European aluminum buyers benefit most from Grundartangi's July 2026 ramp completion?
Century Aluminum's Grundartangi smelter in Iceland is set to return to full production by end of July 2026 after Q3 2025 transformer failures. European aluminum buyers — particularly automotive OEMs, packaging converters, and fabricators like Arconic — stand to benefit from restored low-carbon supply and moderating delivery premiums, while Kaiser Aluminum gains indirect tailwinds for its record 2026 outlook.
CENXARNC
Kaiser Aluminum Corporation company profile
Overview
Kaiser Aluminum Corporation (NASDAQ:KALU) is a specialty aluminum manufacturer founded in 1946 and headquartered in Foothill Ranch, California. The company went public in 2006 and has established itself as a leading producer of semi-fabricated aluminum mill products serving critical industries including aerospace, defense, automotive, and packaging. Kaiser operates manufacturing facilities primarily in North America and sells its products globally through direct sales teams and independent agents across multiple continents.
Business
Kaiser Aluminum operates in the specialty aluminum manufacturing industry, producing semi-fabricated aluminum mill products that serve as intermediate materials for various end-use applications. The company transforms raw aluminum into specialized forms through rolling, extruding, and drawing processes. The business is organized into four main segments: Aerospace and High Strength (approximately 36% of conversion revenue): This segment produces high-performance aluminum products for commercial aircraft, defense applications, space programs, and business jets. Products include specialized alloys and forms that meet stringent aerospace specifications for structural components, engine parts, and other critical applications where strength-to-weight ratio is paramount. Packaging (approximately 34% of conversion revenue): Kaiser manufactures aluminum coil products used in beverage cans, food packaging, and other consumer packaging applications. The company produces both bare and coated aluminum products in 3000-series and 5000-series alloys, with coated products commanding higher margins due to their specialized surface treatments. General Engineering (approximately 21% of conversion revenue): This segment serves diverse industrial applications including semiconductor manufacturing equipment, military vehicles, ordnance, electronic devices, aftermarket motorsport parts, tooling plates, and various machinery components. Products include plate, sheet, rod, bar, tube, wire, and standard extrusion shapes. Automotive (approximately 8% of conversion revenue): Kaiser produces extruded aluminum products for automotive applications including structural components, crash management systems, anti-lock braking systems, and drawn tubes for drive shafts. The company also provides fabrication services such as sawing and cutting to customer specifications.
Revenue model
Kaiser Aluminum generates revenue primarily through the sale of semi-fabricated aluminum products, operating on a conversion revenue model. The company purchases raw aluminum and transforms it into specialized products, earning margin on the conversion process rather than speculating on aluminum commodity prices. Most contracts are structured to be "metal-neutral," meaning aluminum price fluctuations are passed through to customers with minimal lag time. The company's customers include original equipment manufacturers (OEMs) in aerospace, automotive, and packaging industries, as well as distributors and service centers that supply smaller manufacturers. Revenue is generated through direct product sales, with pricing typically based on conversion costs plus the underlying aluminum commodity price. Several factors influence Kaiser's profitability margins. Positive margin drivers include the company's focus on high-value specialty applications that command premium pricing, ongoing investments in higher-margin coated products (expected to add 300-400 basis points), and implementation of metal sourcing strategies utilizing more recycled content (targeting 150-200 basis points improvement). The company's geographic concentration in North America also benefits from potential trade protection measures. Margin pressures come from supply chain disruptions, inflationary cost pressures on labor and energy, competitive pricing in commodity-like segments, and cyclical demand fluctuations in end markets. The aerospace segment, while high-margin, is subject to production rate volatility from major aircraft manufacturers. Raw material availability, particularly specialty additives like magnesium, can also impact operations and costs.
Competitive moat
Kaiser Aluminum possesses a moderate competitive moat built primarily around specialized manufacturing capabilities and customer relationships in niche markets. The company's strength lies in its ability to produce high-specification aluminum products that meet stringent aerospace and defense requirements, which creates significant barriers to entry due to lengthy qualification processes and technical expertise requirements. The aerospace segment provides the strongest moat, as suppliers must undergo extensive certification processes that can take years to complete. Once qualified, switching costs for customers are high due to regulatory requirements and the critical nature of aerospace applications. Kaiser's long-standing relationships with major aerospace manufacturers and its track record of quality and reliability create customer stickiness. However, the moat has limitations. The packaging and general engineering segments operate in more commoditized markets with lower switching costs and greater price sensitivity. The company faces competition from larger integrated aluminum producers who may have cost advantages through vertical integration, as well as from imports, particularly during periods of strong dollar or trade policy uncertainty. Potential disruption could come from alternative materials (carbon fiber, advanced composites) in aerospace applications, consolidation among larger aluminum producers, or technological advances that reduce the need for specialized processing. The company's relatively small size compared to integrated aluminum giants like Alcoa also limits its negotiating power with suppliers and customers in some segments.
Risks & safety
Kaiser Aluminum presents moderate financial risk with adequate but not strong margin of safety metrics: • Liquidity and Solvency: Current ratio of 2.67 indicates solid short-term liquidity. However, low cash position of $21.3 million and debt-to-equity ratio of 1.42 suggest elevated leverage. Free cash flow turned positive at $18.8 million in Q1 2025 after negative periods. • Valuation Metrics: Trading at P/E of 11.3x and EV/EBITDA of 7.2x based on recent results, suggesting reasonable but not compelling valuation. Graham number of $37.63 versus current price indicates potential overvaluation by traditional value metrics. • Other Considerations: Heavy capital expenditure requirements ($125+ million annually) for facility upgrades strain cash generation. Cyclical end markets create earnings volatility. Net-net working capital position is negative, indicating asset-heavy business model typical of manufacturing operations.
Recent development
Over the past several years, Kaiser has executed a strategic transformation focused on higher-margin specialty products and operational improvements. The company completed a major $250 million investment in a fourth coating line at its Warrick rolling mill, which began commissioning in early 2025. This expansion is expected to shift 25% of packaging output to higher-margin coated products, potentially adding 300-400 basis points to EBITDA margins. Kaiser also launched Phase VII expansion at its Trentwood facility with an initial $25 million investment to increase aerospace and general engineering capacity by 5-6%, with availability expected in the second half of 2025. The company has implemented a comprehensive metal sourcing strategy emphasizing recycled content, targeting 150-200 basis points of margin improvement. Operationally, Kaiser resolved significant supply chain disruptions that plagued the Warrick facility in 2022, diversified its supplier base, and negotiated improved contract terms with customers. The company reached an early labor agreement with the United Steelworkers, providing labor stability. Management has raised 2025 EBITDA expectations by 5-10% above 2024 levels and projects conversion revenue growth of 5-10%, with approximately 60% of EBITDA expected in the second half of the year as new investments come online.
KALU company profile · for informational purposes only — not investment advice.
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