Kaiser Aluminum Turns To Loss In Q3

California-based mining company Kaiser Aluminum Corporation (KALU) turned to loss in the third quarter.

Net loss reported by Kaiser Aluminum was $2 million or $0.14 loss per share, compared to a profit of $0.4 million or $0.02 earnings per share last year.

Excluding one-time items, the income was $9 million or $0.57 earnings per share, up from $6 million or $0.39 earnings per share. On average, four analysts polled by Thomson Reuters estimated the earnings to be $1.32 per share for the quarter.

Kaiser revenue for the quarter was $751 million, up from $256 million last year.

The results were offset by a loss of $445 million in the less hedged cost of alloy metals segment from $101 million last year. The Street view for the revenue was $782.86 million.

Kaiser expects the value-added revenue for the next quarter to go up by a low single-digit while labor cost and supply chain disruptions prevail.

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