KALU FY 2023 Earnings Report — Kaiser Aluminum Corporation Revenue & Financial Results | Market Cap Arena

Kaiser Aluminum CorporationKALU

FY 2023 Earnings

Reported February 22, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$3.1B	—	$3.4B	—	-9.9%
Op. Income	$96M	—	$4M	—	2295.0%
Gross Margin	10.8%	—	7.2%	—	3.5pp
Net Margin	1.5%	—	-0.9%	—	2.4pp
EPS (Diluted)	$2.92	—	$-1.86	—	257.0%
Free Cash Flow	$69M	—	-$206M	—	133.4%

Revenue Flow

Item	Amount
REVENUE	$3.1B
Cost of Revenue	$2.8B
GROSS PROFIT	$332M
R&D Expenses	$11M
Selling & Marketing	$0
General & Administrative	$123M
SG&A Expenses	$123M
Other Expenses	$103M
Operating Expenses	$236M
Cost & Expenses	$3.0B
OPERATING INCOME	$96M
Interest Income	$2M
Interest Expense	$47M
Other Income/Expenses	-$40M
INCOME BEFORE TAX	$56M
Income Tax Expense	$9M
Net Income from Continuing Ops	$47M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$47M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$47M
D&A	$109M
EBIT	$103M
EBITDA	$212M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$3.1B
Cost of Revenue	$2.8B
GROSS PROFIT	$332M
R&D Expenses	$11M
Selling & Marketing	$0
General & Administrative	$123M
SG&A Expenses	$123M
Other Expenses	$103M
Operating Expenses	$236M
Cost & Expenses	$3.0B
OPERATING INCOME	$96M
Interest Income	$2M
Interest Expense	$47M
Other Income/Expenses	-$40M
INCOME BEFORE TAX	$56M
Income Tax Expense	$9M
Net Income from Continuing Ops	$47M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$47M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$47M
D&A	$109M
EBIT	$103M
EBITDA	$212M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$47M
Depreciation & Amortization	$109M
Stock-Based Compensation	$16M
Deferred Income Tax	$8M
Other Non-Cash Items	$2M
Change in Working Capital	$31M
OPERATING CASH FLOW	$212M
Capital Expenditure	-$143M
Acquisitions (Net)	$0
Purchases of Investments	-$300.0K
Sales/Maturities of Investments	$100.0K
Other Investing Activities	$15M
NET CASH FROM INVESTING	-$128M
Net Debt Issuance	-$2M
Common Stock Repurchased	-$2M
Common Dividends Paid	-$50M
Other Financing Activities	$0
NET CASH FROM FINANCING	-$54M
FREE CASH FLOW	$69M
Net Change in Cash	$29M

Balance Sheet

Item	Amount
Cash & Equivalents	$82M
Short-Term Investments	$0
Net Receivables	$396M
Inventory	$477M
Other Current Assets	$35M
TOTAL CURRENT ASSETS	$990M
PP&E (Net)	$1.1B
Goodwill	$19M
Intangible Assets	$50M
Long-Term Investments	$19M
Tax Assets	$6M
Other Non-Current Assets	$99M
TOTAL NON-CURRENT ASSETS	$1.3B
TOTAL ASSETS	$2.3B
Account Payables	$253M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$370M
Long-Term Debt	$1.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$14M
Other Non-Current Liabilities	$162M
TOTAL NON-CURRENT LIABILITIES	$1.2B
TOTAL LIABILITIES	$1.6B
Common Stock	$200.0K
Additional Paid-In Capital	$1.1B
Retained Earnings	$10M
Treasury Stock	-$476M
Accum. Other Comp. Income	$13M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$652M
Minority Interest	$0
TOTAL EQUITY	$652M
TOTAL LIABILITIES & EQUITY	$2.3B
Total Debt	$1.1B
Net Debt	$997M