Kaiser Aluminum’s net sales rise in Q2
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Update time : 2023-07-27 16:23:23
Kaiser Aluminum, a US-based aluminum producer, reported that its net sales reached US$814 million in the second quarter of this year, rising from US$808 million in the previous quarter but falling from US$954 million in the same quarter a year ago. The net income was US$18 million, compared to a net income of US$16 million in the first quarter and a net loss of US$14 million in the second quarter a year earlier.
During the period, the adjusted EBITDA was US$64 million, hiking by US$17 million from the previous quarter and by US$33 million from the prior year period.
Kaiser Aluminum foresees that demand in commercial aerospace will continue to improve and rebound to the pre-pandemic levels by the end of 2023.
The company planned total capital investment in a range between US$170 million and US$190 million for this year, most of which will be used in the company’s growth programs.
China’s December aluminium production grows 4.2%, leading to 2024 output to 1 million tonnes shy of the production cap
