Kaiser Aluminum Corporation, an American producer of semi-fabricated speciality aluminium products, published its quarterly and consolidated nine-month results of 2022 last week, wherein it reported net sales for Q3 at $749 million compared to $954 million in Q2 and $751 million in Q3 2021. That reflected a quarterly downfall of 21.5 per cent and annually 0.27 per cent, in line with the decrease in shipments by 15.82 per cent Q-o-Q and 10.48 per cent Y-o-Y to 282 million lbs.
Value-added revenue, however, increased over the year by 16 per cent to $356 million, primarily driven by higher pricing to mitigate inflationary costs. Value-added revenue for the company’s aerospace/high strength applications also grew by 5 per cent to $86 million despite a decrease in shipments. That mirrored a robust mix of higher value-added products and the impact of the planned stretcher outage at the Company’s Trentwood facility.
Adjusted EBITDA for Q3 was reported at $31 million compared to $41 million in Q2 and $50 million in 3Q2021. Operating income shrank from $20million a year ago to $3 million in 3Q2022 but registered a growth from $2 million a year earlier.
But the total net sales in nine months of the year grew Y-o-Y from $1.8 billion to $2.7 billion, backed by a 21 per cent rise in shipments from 789 million lbs. to 952 million lbs.
Value-added revenue for the nine months increased 39 per cent to $1.1 billion from $795 million, with revenue for aerospace/high strength applications growing 20 per cent to $278 million on an approximately 11 per cent rise in shipments.\
Reported operating income amounted to about $26 million, down by 46 per cent from $48 million. Adjusted EBITDA slipped from $147 million to $128 million during January to September 2022.
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