www.virtual-strategy.com
Kaiser Aluminum Corporation reports fourth quarter and full year 2013 financial results
Edited by : AL CIRCLE
1 min read
Kaiser Aluminum Corporation today reported net income of $105 million, or $5.44 earnings per diluted share, for the year ended December 31, 2013 compared to $86 million, or $4.45 earnings per diluted share, for the prior year ended December 31, 2012. Excluding the impact of non-run-rate items, adjusted net income was $70 million, or $3.65 per diluted share, for the full year 2013 compared to the prior year adjusted net income of $74 million, or $3.82 per diluted share. The decrease in adjusted net income was primarily related to a full year of interest expense in 2013 on the Company's Senior Notes, which were issued in May 2012.
Value added revenue for the full year 2013 of $734 million compared to $736 million in 2012, reflecting record shipments of aerospace plate offset by lower demand for non-plate aerospace products due to excess supply chain inventory. In addition, value added revenue for automotive extrusions reflected a new record in 2013, increasing approximately 12% as new programs launched in the second half of 2013. Adjusted consolidated EBITDA of $174 million and adjusted EBITDA margin on value added revenue of 24% was comparable to the prior year.
Value added revenue for the full year 2013 of $734 million compared to $736 million in 2012, reflecting record shipments of aerospace plate offset by lower demand for non-plate aerospace products due to excess supply chain inventory. In addition, value added revenue for automotive extrusions reflected a new record in 2013, increasing approximately 12% as new programs launched in the second half of 2013. Adjusted consolidated EBITDA of $174 million and adjusted EBITDA margin on value added revenue of 24% was comparable to the prior year.
Previous article
Massive training campaign planning for aluminum F-150
Next articleHero Group’s auto component firm Rockman to buy majority stake in Sargam Diecastings
Grow with
AL Circle
