Kaiser Aluminum Corporation (KALU) reported an increase in its third-quarter profit compared to the same period last year, though it fell short of Wall Street expectations.
The company achieved earnings of $12.0 million, or $0.74 per share, up from $5.4 million, or $0.34 per share, in the third quarter of the previous year.
Excluding certain items, Kaiser Aluminum posted adjusted earnings of $0.51 per share for the quarter.
This was below the average analyst forecast of $0.83 per share, as compiled by Thomson Reuters, which generally does not take special items into account.
Revenue for the quarter saw a slight increase of 0.6%, reaching $747.7 million, compared to $743.6 million in the prior year.
Summary of Kaiser Aluminum Corporation’s third-quarter earnings (GAAP):
- Earnings: $12.0 million compared to $5.4 million in the previous year.
- Earnings per Share (EPS): $0.74 compared to $0.34 in the previous year.
- Revenue: $747.7 million compared to $743.6 million in the previous year.
