Kaiser Aluminum Files Q2 2024 10-Q
Ticker: KALU · Form: 10-Q · Filed: Jul 26, 2024 · CIK: 811596
Sentiment: neutral
Topics: 10-Q, financials, SEC filing
TL;DR
KAISER ALUMINUM FILED ITS Q2 10-Q. FINANCIALS ARE IN.
AI Summary
Kaiser Aluminum Corp. filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance and position. Key financial data and disclosures are provided as required by the SEC for public companies.
Why It Matters
This filing provides investors and analysts with the latest official financial data for Kaiser Aluminum, crucial for understanding the company's performance and making investment decisions.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks disclosed.
Key Players & Entities
- KAISER ALUMINUM CORP (company) — Filer of the 10-Q
- 20240630 (date) — End of the reporting period
- 20240726 (date) — Date of filing
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended June 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed with the SEC on July 26, 2024.
What is Kaiser Aluminum Corp.'s Central Index Key (CIK)?
Kaiser Aluminum Corp.'s Central Index Key is 0000811596.
What is the Standard Industrial Classification (SIC) code for Kaiser Aluminum Corp.?
The SIC code for Kaiser Aluminum Corp. is 3350, which corresponds to Rolling, Drawing & Extruding of Nonferrous Metals.
Where is Kaiser Aluminum Corp. headquartered?
Kaiser Aluminum Corp. is headquartered at 27422 Portola Parkway, Suite 200, Foothill Ranch, CA 92610-2831.
Filing Stats: 4,466 words · 18 min read · ~15 pages · Grade level 8 · Accepted 2024-07-25 18:24:26
Key Financial Figures
- $0.01 — ch registered Common stock, par value $0.01 per share KALU Nasdaq Global Select
- $500.0 million — l amounts, respectively: (i) 4.625% and $500.0 million; and (ii) 4.50% and $550.0 million Te
- $550.0 million — and $500.0 million; and (ii) 4.50% and $550.0 million Term SOFR Forward looking term rate
Filing Documents
- kalu-20240630.htm (10-Q) — 2652KB
- kalu-ex10_2.htm (EX-10.2) — 9KB
- kalu-ex31_1.htm (EX-31.1) — 16KB
- kalu-ex31_2.htm (EX-31.2) — 16KB
- kalu-ex32_1.htm (EX-32.1) — 9KB
- kalu-ex32_2.htm (EX-32.2) — 10KB
- 0000950170-24-086678.txt ( ) — 11670KB
- kalu-20240630.xsd (EX-101.SCH) — 1358KB
- kalu-20240630_htm.xml (XML) — 2652KB
Financial Statements
Item 1. Financial Statements 1
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 22
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 30
Controls and Procedures
Item 4. Controls and Procedures 31 PART II
Legal Proceedings
Item 1. Legal Proceedings 32
Risk Factors
Item 1A. Risk Factors 32
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 32
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 32
Other Information
Item 5. Other Information 32
Exhibits
Item 6. Exhibits 33
SIGNATURES
SIGNATURES 34 2 KAISER ALUMINUM CORPORATION AND SUBSIDIARY COMPANIES
– FINANCI AL INFORMATION
PART I – FINANCI AL INFORMATION
Financi al Statements
Item 1. Financi al Statements CONSOLIDATED BALANCE SHEETS (UNAUDITED) As of June 30, 2024 As of December 31, 2023 (In millions of dollars, except share and per share amounts) ASSETS Current assets: Cash and cash equivalents $ 70.4 $ 82.4 Receivables: Trade receivables, net 370.1 325.2 Other 13.4 12.4 Contract assets 63.7 58.5 Inventories 446.9 477.2 Prepaid expenses and other current assets 46.0 34.5 Total current assets 1,010.5 990.2 Property, plant and equipment, net 1,084.6 1,052.1 Operating lease assets 29.1 32.6 Deferred tax assets, net 6.0 6.0 Intangible assets, net 47.7 50.0 Goodwill 18.8 18.8 Other assets 119.0 117.7 Total assets $ 2,315.7 $ 2,267.4 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 281.8 $ 252.7 Accrued salaries, wages and related expenses 48.9 53.0 Other accrued liabilities 65.7 64.3 Total current liabilities 396.4 370.0 Long-term portion of operating lease liabilities 26.3 29.2 Pension and other postretirement benefits 77.6 76.8 Net liabilities of Salaried VEBA 3.8 3.8 Deferred tax liabilities 20.6 13.9 Long-term liabilities 88.3 81.7 Long-term debt, net 1,040.7 1,039.8 Total liabilities 1,653.7 1,615.2 Commitments and contingencies – Note 7 Stockholders' equity: Preferred stock, 5,000,000 shares authorized at both June 30, 2024 and December 31, 2023; no shares were issued and outstanding at June 30, 2024 and December 31, 2023 — — Common stock, par value $ 0.01 , 90,000,000 shares authorized at both June 30, 2024 and December 31, 2023; 22,922,398 shares issued and 16,087,112 shares outstanding at June 30, 2024; 22,851,077 shares issued and 16,015,791 shares outstanding at December 31, 2023 0.2 0.2 Additional paid in capital 1,111.0 1,104.7 Retained earnings 12.5 10.1 Treasury stock, at cost, 6,835,286 s