Kaiser Aluminum Corporation (KALU) revealed an increase in its profits from the first quarter compared to the previous year, exceeding market expectations.
The firm's net income amounted to $24.6 million, or $1.51 per share, a marked increase from $15.9 million and $0.99 per share in the first quarter of the previous year.
On exclusion of certain aspects, Kaiser Aluminum Corporation reported an adjusted income of $16.6 million, or $1.02 per share for the period.
Analysts had, on average, anticipated the company's earnings to be $0.57 per share, according to data collated by Thomson Reuters. It should be noted that analysts' predictions generally exclude special items.
The firm's revenue for the quarter however saw a decrease, falling by 8.7% to $737.5 million from $807.6 million the previous year.
A snapshot of Kaiser Aluminum Corporation earnings based on Generally Accepted Accounting Principles (GAAP) reveals the following:
- Earnings for Q1 stand at $24.6 million, against $15.9 million the previous year.
- Earnings per share (EPS) for Q1 are $1.51, compared to $0.99 the previous year.
- Revenue for Q1 amounts to $737.5 million, as against $807.6 million the previous year.
