Kaiser Aluminum Files Q3 2024 10-Q
Ticker: KALU · Form: 10-Q · Filed: Oct 24, 2024 · CIK: 811596
Sentiment: neutral
Topics: 10-Q, financials, aluminum
Related Tickers: KALU
TL;DR
KAISER ALUMINUM (KALU) filed its Q3 2024 10-Q. Financials are in.
AI Summary
Kaiser Aluminum Corp. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and position, including assets, liabilities, and equity. Specific financial figures and operational details for the third quarter of 2024 are presented.
Why It Matters
This filing provides investors and analysts with the latest financial data for Kaiser Aluminum, crucial for understanding the company's current health and future prospects in the metals industry.
Risk Assessment
Risk Level: medium — The filing is a standard quarterly report, but the aluminum industry can be subject to significant market volatility and commodity price fluctuations.
Key Players & Entities
- KAISER ALUMINUM CORP (company) — Filer of the 10-Q
- 20240930 (date) — End of the reporting period
- 20241024 (date) — Filing date
- 0000811596 (company) — Central Index Key for Kaiser Aluminum Corp.
FAQ
What was Kaiser Aluminum's total revenue for the quarter ending September 30, 2024?
The provided text does not contain specific revenue figures for the quarter ending September 30, 2024.
What is Kaiser Aluminum's fiscal year end?
Kaiser Aluminum's fiscal year ends on December 31.
When was the company formerly known as Kaisertech Ltd.?
The company was formerly known as Kaisertech Ltd. until November 22, 1990.
What is the business address of Kaiser Aluminum Corp.?
The business address is 27422 Portola Parkway, Suite 200, Foothill Ranch, CA 92610-2831.
What is the Standard Industrial Classification code for Kaiser Aluminum Corp.?
The SIC code is 3350, which corresponds to Rolling Drawing & Extruding of Nonferrous Metals.
Filing Stats: 4,444 words · 18 min read · ~15 pages · Grade level 7.9 · Accepted 2024-10-24 17:08:42
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-20240930.htm (10-Q) — 2833KB
- kalu-ex10_1.htm (EX-10.1) — 1759KB
- kalu-ex31_1.htm (EX-31.1) — 17KB
- kalu-ex31_2.htm (EX-31.2) — 17KB
- kalu-ex32_1.htm (EX-32.1) — 10KB
- kalu-ex32_2.htm (EX-32.2) — 10KB
- 0000950170-24-117104.txt ( ) — 14295KB
- kalu-20240930.xsd (EX-101.SCH) — 1385KB
- kalu-20240930_htm.xml (XML) — 2790KB
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 September 30, 2024 As of December 31, 2023 (In millions of dollars, except share and per share amounts) ASSETS Current assets: Cash and cash equivalents $ 45.7 $ 82.4 Receivables: Trade receivables, net 370.2 325.2 Other 0.9 12.4 Contract assets 62.0 58.5 Inventories 473.9 477.2 Prepaid expenses and other current assets 42.2 34.5 Total current assets 994.9 990.2 Property, plant and equipment, net 1,100.4 1,052.1 Operating lease assets 27.6 32.6 Deferred tax assets, net 6.3 6.0 Intangible assets, net 46.6 50.0 Goodwill 18.8 18.8 Other assets 116.8 117.7 Total assets $ 2,311.4 $ 2,267.4 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 275.4 $ 252.7 Accrued salaries, wages and related expenses 51.9 53.0 Other accrued liabilities 54.9 64.3 Total current liabilities 382.2 370.0 Long-term portion of operating lease liabilities 25.2 29.2 Pension and other postretirement benefits 77.6 76.8 Net liabilities of Salaried VEBA 3.7 3.8 Deferred tax liabilities 23.7 13.9 Long-term liabilities 90.8 81.7 Long-term debt, net 1,041.2 1,039.8 Total liabilities 1,644.4 1,615.2 Commitments and contingencies – Note 7 Stockholders' equity: Preferred stock, 5,000,000 shares authorized at both September 30, 2024 and December 31, 2023; no shares were issued and outstanding at September 30, 2024 and December 31, 2023 — — Common stock, par value $ 0.01 , 90,000,000 shares authorized at both September 30, 2024 and December 31, 2023; 22,923,041 shares issued and 16,087,755 shares outstanding at September 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 1,114.6 1,104.7 Retained earnings 11.8 10.1 Treasury stock