Kaiser: 3Q Earnings Snapshot
FOOTHILL RANCH, Calif. (AP) _ Kaiser Aluminum Corp. (KALU) on Wednesday reported third-quarter profit of $25.4 million.
On a per-share basis, the Foothill Ranch, California-based company said it had profit of $1.57. Earnings, adjusted for non-recurring costs, were $1.82 per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.97 per share.
The aluminum products company posted revenue of $374.9 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $397 million.
Kaiser shares have increased nearly 10% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $98.16, a drop of roughly 1% in the last 12 months.