Fri, Jul 26, 10:06 AM (43 days ago)
Kaiser Aluminum Corporation's Q2 2024 financial report highlights a decrease in net sales to $773.4 million from $814.1 million in Q2 2023, driven by a 6% drop in shipment volume. The net income for the quarter fell to $3.1 million from $18.3 million in the same period last year, attributed to increased manufacturing costs, energy prices, and major maintenance expenses. Adjusted EBITDA decreased to $53.5 million from $63.7 million in Q2 2023. The company reported an increase in cash flow from operations to $89.6 million for the first half of 2024, up from $47.8 million in the same period last year, despite higher working capital requirements. Future outlook anticipates stable demand across end markets with potential for modest growth, focusing on operational efficiency and cost management.