Kaiser Aluminum Corporation (NASDAQ:KALU) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Kaiser Aluminum Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 5.5% to $1.03 in the quarter versus EPS of $1.09 in the year-earlier quarter.
Revenue: Decreased 7.66% to $337.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Kaiser Aluminum Corporation reported adjusted EPS income of $1.03 per share. By that measure, the company beat the mean analyst estimate of $0.87. It missed the average revenue estimate of $347.26 million.
Quoting Management: “We previously anticipated first half 2013 value added revenue and adjusted EBITDA margin would be comparable or slightly better than the first half 2012, and our first quarter results reflect that pace,” said Jack A. Hockema, President, CEO and Chairman. “While we expect mild headwinds will continue in the second quarter, we remain optimistic that 2013 results will exceed our record 2012 results. As we look forward, our long-term prospects remain strong particularly as end market demand continues to improve.”
Key Stats (on next page)…