FX.co ★ Kaiser Aluminum Corporation Q1 Profit Increases, beats estimates

Kaiser Aluminum Corporation (KALU) revealed an increase in its profits from the first quarter compared to the previous year, exceeding market expectations.

The firm's net income amounted to $24.6 million, or $1.51 per share, a marked increase from $15.9 million and $0.99 per share in the first quarter of the previous year.

On exclusion of certain aspects, Kaiser Aluminum Corporation reported an adjusted income of $16.6 million, or $1.02 per share for the period.

Analysts had, on average, anticipated the company's earnings to be $0.57 per share, according to data collated by Thomson Reuters. It should be noted that analysts' predictions generally exclude special items.

The firm's revenue for the quarter however saw a decrease, falling by 8.7% to $737.5 million from $807.6 million the previous year.

A snapshot of Kaiser Aluminum Corporation earnings based on Generally Accepted Accounting Principles (GAAP) reveals the following:

- Earnings for Q1 stand at $24.6 million, against $15.9 million the previous year.

- Earnings per share (EPS) for Q1 are $1.51, compared to $0.99 the previous year.

- Revenue for Q1 amounts to $737.5 million, as against $807.6 million the previous year.