30 APRIL 2015AlCircle.com
Kaiser Aluminium releases a mixed Q1, 2015 results
Edited by : AL CIRCLE
1 min read
Kaiser Aluminium released its first quarter results showing mixed outcomes. Although it beat the Wall Street’s revenue outlook, it fell short of the earnings projections.
The company posted a net loss of $292 million or $16.85 per diluted share with a net income of $18 million. The revenues exceeded expectations rising 6% or $12 million to set a record of $197 million while net sales totalled at $372 million.
The company’s automotive revenue was seen at $95 million while the sale of aluminium products to aerospace industry saw a growth of 6-8 percent.
Kaiser Chief Executive and President Jack Hockema said in a statement the company had record shipments in several categories.
“We look forward to strong demand growth for our aerospace and automotive applications and further improvement in underlying manufacturing cost efficiencies," Hockema said. He said Kaiser anticipates pricing improvements for certain products in the future.
The company posted a net loss of $292 million or $16.85 per diluted share with a net income of $18 million. The revenues exceeded expectations rising 6% or $12 million to set a record of $197 million while net sales totalled at $372 million.
The company’s automotive revenue was seen at $95 million while the sale of aluminium products to aerospace industry saw a growth of 6-8 percent.
Kaiser Chief Executive and President Jack Hockema said in a statement the company had record shipments in several categories.
“We look forward to strong demand growth for our aerospace and automotive applications and further improvement in underlying manufacturing cost efficiencies," Hockema said. He said Kaiser anticipates pricing improvements for certain products in the future.
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