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BRIEF-Kaiser Aluminum posts Q2 earnings per share $0.27
July 19, 2017 / 8:57 PM / 4 months ago

BRIEF-Kaiser Aluminum posts Q2 earnings per share $0.27

July 19 (Reuters) - Kaiser Aluminum Corp

* Kaiser Aluminum Corporation reports second quarter and first half 2017 financial results

* Q2 adjusted earnings per share $1.47 excluding items

* Q2 sales $356 million versus I/B/E/S view $349.6 million

* Q2 earnings per share view $0.99 -- Thomson Reuters I/B/E/S

* Q2 earnings per share $0.27

* Kaiser Aluminum Corp qtrly value added revenue $406 million down 3% on higher shipments

* Kaiser Aluminum Corp- Qtrly shipments 160 million lbs versus 155 million lbs last year

* Kaiser Aluminum Corp - ‍Reported Q2 2017 results included an $18 million pre-tax impairment charge​

* Kaiser Aluminum Corp - ‍Reported Q2 2017 results included a $12 million pre-tax mark-to-market loss related to commodity hedges​

* Kaiser Aluminum - Continue to anticipate solid aerospace demand growth driven by military and commercial aircraft applications in both 2018 and 2019

* Kaiser Aluminum Corp - ‍Looking to second half 2017, strategic project work at trentwood will continue in july​

* Kaiser Aluminum Corp - ‍expect to restore normal operations and material flows by end of Q3 at trentwood​

* Kaiser Aluminum - ‍In H2, anticipate normal seasonality similar to pattern experienced in 2016 of lower sales and adjusted ebitda compared to H1

* Kaiser Aluminum - Co expect that isolated instances of inventory overhang will linger into 2018 creating modest drag on overall industry demand growth

* Kaiser Aluminum - In the second half of 2017, rescheduled major maintenance spending at trentwood will further impact results compared to prior year Source text for Eikon: Further company coverage:

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