Kaiser Aluminum Slips Nearly 3%, Hurt by Lackluster Outlook


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Kaiser Aluminum Corp. ( KALU ) is down 2.62% to $47.91 in extended hour trade.

Kaiser reported net income of $27 mln or $1.38 earnings per diluted share for 2012 Q1, compared with $11 mln or 57 cents earnings per diluted share for the prior year Q1. Revenue for the same period was $365 mln compared to $323 seen a year ago.

Analysts polled by Thomson Financial expected earnings of 75 cents on revenue of $352.94 mln on average.

The company anticipates its value added revenue and adjusted EBITDA in the second quarter will reflect a step change year-over-year, but at a level 5% - 10% less than in QQ1, due to service center inventory swings and to planned outages of certain equipment.

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