Kaiser Aluminum Corp (KALU) financial statements: income statement, balance sheet and cash flow

Kaiser Aluminum Corp's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Kaiser Aluminum Corp reported revenue of $3.4B (+11.5% year on year) and net income of $112.5M (+140.4% year on year).

Income statement

Kaiser Aluminum Corp income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net sales	$3.4B	$3.0B	$3.1B	$3.4B
Cost of products sold, excluding depreciation and amortization	$2.9B	$2.7B	$2.8B	$3.2B
Depreciation and amortization	$122.5M	$116.4M	$108.6M	$106.9M
Selling, general, administrative, research and development	$129.2M	$120.8M	$122.7M	$110.9M
Restructuring costs	$1.9M	$7.6M	—	—
Other operating charges, net	$0	$400.0K	—	$3.2M
Total costs and expenses	$3.2B	$2.9B	$3.0B	$3.4B
Operating income	$188.8M	$87.7M	$95.8M	$4.0M
Interest expense	($50.1M)	($43.7M)	($46.9M)	($48.3M)
Other income, net - Note 13	$11.3M	$19.5M	$7.4M	$6.4M
Income before income taxes	$150.0M	$63.5M	$56.3M	($37.9M)
Income tax provision	($37.5M)	($16.7M)	($9.1M)	$8.3M
Net income	$112.5M	$46.8M	$47.2M	($29.6M)
Basic	$6.96	$2.91	$2.95	-$1.86
Diluted	$6.77	$2.87	$2.92	-$1.86
Basic	16.2M	16.1M	16.0M	15.9M
Diluted	16.6M	16.3M	16.1M	15.9M

Kaiser Aluminum Corp income statement, quarters

Line item	Sep 30, 2026 · Q3	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3
Net sales	$1.2B	$1.3B	$1.1B	$843.5M
Cost of products sold, excluding depreciation and amortization	$1.1B	$1.1B	$943.2M	$728.8M
Depreciation and amortization	$27.9M	$29.6M	$30.4M	$32.0M
Selling, general, administrative, research and development	$32.1M	$35.7M	$35.4M	$33.9M
Restructuring costs	$0	$0	$0	$0
Other operating charges, net	$500.0K	—	—	$0
Total costs and expenses	$1.2B	$1.1B	$1.0B	$794.7M
Operating income	$55.2M	$133.7M	$97.8M	$48.8M
Interest expense	($14.2M)	($14.5M)	($14.4M)	($12.4M)
Other (expense) income, net - Note 8	($800.0K)	$7.1M	($1.0M)	$11.4M
Income before income taxes	$40.2M	$126.3M	$82.4M	$47.8M
Income tax provision	($9.2M)	($29.5M)	($19.9M)	($8.3M)
Net income	$31.0M	$96.8M	$62.5M	$39.5M
Basic	$1.90	$5.92	$3.85	$2.44
Diluted	$1.84	$5.72	$3.71	$2.38
Basic	16.3M	16.3M	16.2M	16.2M
Diluted	16.9M	16.9M	16.8M	16.6M

Balance sheet

Kaiser Aluminum Corp balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$7.0M	$18.4M	$82.4M	$57.4M
Trade receivables, net	$395.2M	$319.7M	$325.2M	$297.2M
Other	$28.1M	$22.0M	$12.4M	$73.5M
Contract assets	$63.4M	$73.4M	$58.5M	$58.6M
Inventories	$725.2M	$503.9M	$477.2M	$525.4M
Prepaid expenses and other current assets	$42.6M	$39.0M	$34.5M	$30.5M
Total current assets	$1.3B	$976.4M	$990.2M	$1.0B
Property, plant and equipment, net	$1.1B	$1.2B	$1.1B	$1.0B
Operating lease assets	$22.4M	$27.2M	$32.6M	$39.1M
Deferred tax assets, net	$200.0K	$7.2M	$6.0M	$7.5M
Intangible assets, net	$41.0M	$45.5M	$50.0M	$55.3M
Goodwill	$18.8M	$18.8M	$18.8M	$18.8M
Other assets	$75.7M	$78.6M	$117.7M	$112.3M
Total assets	$2.6B	$2.3B	$2.3B	$2.3B
Accounts payable	$274.6M	$266.9M	$252.7M	$305.1M
Accrued salaries, wages and related expenses	$61.3M	$54.3M	$53.0M	$45.2M
Other accrued liabilities	$91.3M	$79.4M	$64.3M	$68.4M
Total current liabilities	$427.2M	$400.6M	$370.0M	$418.7M
Long-term portion of operating lease liabilities	$21.7M	$25.2M	$29.2M	$35.4M
Pension and OPEB	$73.4M	$71.4M	$76.8M	$69.3M
Deferred tax liabilities	$75.4M	$24.1M	$13.9M	$4.9M
Long-term liabilities	$81.4M	$84.0M	$81.7M	$74.7M
Long-term debt, net	$1.1B	$1.0B	$1.0B	$1.0B
Total liabilities	$1.7B	$1.6B	$1.6B	$1.7B
Preferred stock, 5,000,000 shares authorized at both December 31, 2025 and December 31, 2024; no shares were issued and outstanding at December 31, 2025 and December 31, 2024	0	—	—	—
Common stock, par value $0.01, 90,000,000 shares authorized at both December 31, 2025 and December 31, 2024; 23,045,729 shares issued and 16,210,443 shares outstanding at December 31, 2025; 22,931,184 shares issued and 16,095,898 shares outstanding at December 31, 2024	200.0K	200.0K	200.0K	200.0K
Additional paid in capital	$1.1B	$1.1B	$1.1B	$1.1B
Retained earnings	$142.5M	$6.2M	$10.1M	$13.3M
Treasury stock, at cost, 6,835,286 shares at both December 31, 2025 and December 31, 2024	-475.9M	-475.9M	-475.9M	-475.9M
Accumulated other comprehensive income	$26.8M	$20.5M	$13.1M	$3.2M
Total stockholders’ equity	$826.1M	$668.0M	$652.2M	$631.2M
Total liabilities and stockholders' equity	$2.6B	$2.3B	$2.3B	$2.3B

Kaiser Aluminum Corp balance sheet, quarters

Line item	Sep 30, 2026	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025
Cash and cash equivalents	$117.3M	$58.5M	$30.0M	$17.2M
Receivables, net	$531.6M	$575.0M	$528.6M	$388.9M
Contract assets	$73.9M	$72.3M	$75.9M	$54.0M
Inventories	$847.9M	$848.1M	$799.0M	$702.3M
Prepaid expenses and other current assets	$44.4M	$47.9M	$53.9M	$49.5M
Total current assets	$1.6B	$1.6B	$1.5B	$1.2B
Property, plant and equipment, net	$1.1B	$1.1B	$1.1B	$1.2B
Operating lease assets	$22.0M	$23.3M	$24.6M	$24.1M
Deferred tax assets, net	$0	$0	$0	$1.4M
Intangible assets, net	$37.2M	$38.7M	$39.9M	$42.1M
Goodwill	$18.8M	$18.8M	$18.8M	$18.8M
Other assets	$84.8M	$83.3M	$79.7M	$61.7M
Total assets	$2.9B	$2.9B	$2.8B	$2.6B
Accounts payable	$431.1M	$507.2M	$494.1M	$392.8M
Accrued salaries, wages and related expenses	$60.1M	$53.6M	$51.5M	$58.4M
Other accrued liabilities	$123.7M	$81.1M	$56.3M	$49.5M
Total current liabilities	$614.9M	$641.9M	$601.9M	$500.7M
Long-term portion of operating lease liabilities	$20.2M	$21.4M	$22.5M	$22.8M
Pension and OPEB	$72.1M	$72.3M	$72.9M	$70.6M
Deferred tax liabilities	$114.0M	$106.6M	$93.5M	$64.6M
Long-term liabilities	$82.9M	$85.3M	$84.0M	$84.4M
Long-term debt, net	$1.0B	$1.0B	$1.0B	$1.0B
Total liabilities	$1.9B	$2.0B	$1.9B	$1.8B
Preferred stock, 5,000,000 shares authorized at both September 30, 2026 and December 31, 2025; no shares were issued and outstanding at September 30, 2026 and December 31, 2025	0	0	0	0
Common stock, par value $0.01, 90,000,000 shares authorized at both September 30, 2026 and December 31, 2025; 23,185,172 shares issued and 16,349,886 shares outstanding at September 30, 2026; 23,045,729 shares issued and 16,210,443 shares outstanding at December 31, 2025	200.0K	200.0K	200.0K	200.0K
Additional paid in capital	$1.1B	$1.1B	$1.1B	$1.1B
Retained earnings	$293.6M	$275.4M	$191.4M	$127.1M
Treasury stock, at cost, 6,835,286 shares at both September 30, 2026 and December 31, 2025	-475.9M	-475.9M	-475.9M	-475.9M
AOCI	$19.5M	$9.7M	$32.0M	$26.7M
Total stockholders’ equity	$975.5M	$943.8M	$877.3M	$806.1M
Total liabilities and stockholders' equity	$2.9B	$2.9B	$2.8B	$2.6B

Cash flow statement

Kaiser Aluminum Corp cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net (loss) income	$112.5M	$46.8M	$47.2M	($29.6M)
Depreciation of property, plant and equipment	$118.0M	$111.9M	$103.3M	$97.6M
Amortization of definite-lived intangible assets	$4.5M	$4.5M	$5.3M	$9.3M
Amortization and write-off of debt issuance costs	$4.5M	$2.3M	$2.2M	$2.3M
Deferred income taxes	$33.1M	$6.8M	$7.5M	($12.0M)
Non-cash equity compensation	$18.5M	$14.4M	$16.1M	$14.3M
Non-cash asset impairment charges	$2.0M	$3.6M	—	$23.7M
Gain on disposition of property, plant and equipment and asset write-offs, net	($7.1M)	—	—	—
Bad debt expense	$400.0K	$300.0K	—	—
Non-cash postretirement and postemployment defined benefit plan cost	$9.5M	$9.0M	—	—
Trade and other receivables	($81.9M)	($4.4M)	$33.1M	$15.0M
Contract assets	$10.0M	($14.9M)	$100.0K	$4.6M
Inventories	($125.3M)	—	$48.2M	($120.8M)
Prepaid expenses and other current assets	$1.0M	($9.6M)	($2.8M)	($1.5M)
Accounts payable	$15.1M	$14.1M	($43.0M)	($61.2M)
Accrued liabilities	$13.4M	$10.0M	$6.6M	$4.4M
Annual variable cash contributions to Salaried VEBA	($700.0K)	($1.1M)	—	—
Long-term assets and liabilities, net	($16.1M)	$2.6M	($11.5M)	($10.3M)
Net cash provided by operating activities	$111.4M	$167.1M	$211.9M	($63.1M)
Capital expenditures	($136.9M)	($180.8M)	($143.2M)	($142.5M)
Purchase of equity securities	($400.0K)	($100.0K)	($300.0K)	($300.0K)
Proceeds from sale of equity securities	$6.4M	$300.0K	$100.0K	—
Proceeds from disposition of property, plant and equipment	$53.1M	$6.0M	$15.2M	$11.0M
Net cash used in investing activities	($77.8M)	($174.6M)	($128.2M)	($125.8M)
Borrowings under the Revolving Credit Facility	$653.3M	—	$215.1M	—
Repayment of borrowings under the Revolving Credit Facility	($631.0M)	—	($215.1M)	—
Issuance of 5.875% Senior Notes	$500.0M	—	—	—
Repayment of principal of 4.625% Senior Notes	($500.0M)	—	—	—
Cash paid for debt issuance costs	($10.1M)	—	—	($1.8M)
Repayment of finance lease	($2.5M)	($2.5M)	($2.1M)	($2.1M)
Cancellation of shares to cover tax withholdings upon common shares issued	-3.0M	-2.1M	-1.8M	-2.8M
Cash dividends and dividend equivalents paid	($51.3M)	($50.7M)	($50.4M)	($50.1M)
Net cash used in financing activities	($44.6M)	($55.3M)	($54.3M)	($56.8M)
Net (decrease) increase in cash, cash equivalents and restricted cash during the period	($11.0M)	($62.8M)	$29.4M	($245.7M)
Cash, cash equivalents and restricted cash at beginning of period	$37.9M	$100.7M	$71.3M	$317.0M
Cash, cash equivalents and restricted cash at end of period	$26.9M	$37.9M	$100.7M	$71.3M

Kaiser Aluminum Corp cash flow statement, quarters

Line item	Sep 30, 2026 · YTD	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD
Net income	$190.3M	$159.3M	$62.5M	$84.3M
Depreciation of property, plant and equipment	$84.6M	$57.8M	$29.3M	$88.2M
Amortization of definite-lived intangible assets	$3.3M	$2.2M	$1.1M	$3.4M
Amortization of debt issuance costs	$1.8M	$1.3M	$700.0K	—
Deferred income taxes	$41.0M	$36.6M	$16.8M	$21.2M
Non-cash equity compensation	$14.5M	$10.8M	$5.9M	$13.9M
Non-cash asset impairment charge	$1.2M	$700.0K	—	—
Gain on disposition of property, plant and equipment	($4.3M)	($4.3M)	$300.0K	($9.1M)
Bad debt expense	$100.0K	$100.0K	—	$300.0K
Non-cash postretirement and postemployment defined benefit plan cost	$6.3M	$4.2M	$2.1M	$7.1M
Receivables	($108.4M)	($151.8M)	($105.3M)	—
Contract assets	($10.5M)	($8.9M)	($12.5M)	$19.4M
Inventories	($123.4M)	($123.6M)	($73.8M)	($100.4M)
Prepaid expenses and other current assets	($6.9M)	($10.8M)	($1.6M)	($3.4M)
Accounts payable	$157.2M	$229.0M	$217.6M	$122.3M
Accrued liabilities	$11.9M	($48.8M)	($46.2M)	($28.3M)
Annual variable cash contributions to Salaried VEBA	($2.9M)	($2.9M)	($2.9M)	($700.0K)
Long-term assets and liabilities, net	($7.7M)	($3.5M)	($6.1M)	($8.2M)
Net cash provided by operating activities	$248.1M	$147.4M	$87.9M	$132.0M
Capital expenditures	($72.2M)	($43.8M)	($19.4M)	($106.4M)
Purchase of equity securities	($500.0K)	($500.0K)	—	($400.0K)
Proceeds from disposition of property, plant and equipment	$7.7M	$7.6M	—	$10.7M
Net cash used in investing activities	($65.0M)	($36.7M)	($19.4M)	($89.7M)
Borrowings under the Revolving Credit Facility	$397.8M	$397.8M	$71.5M	$290.4M
Repayment of borrowings under the Revolving Credit Facility	($420.1M)	($420.1M)	($93.8M)	($290.4M)
Repayment of finance lease	($2.7M)	($1.6M)	($700.0K)	($1.8M)
Cancellation of shares to cover tax withholdings upon common shares issued	-8.9M	-8.9M	-8.8M	-2.9M
Cash dividends and dividend equivalents paid	($39.2M)	($26.4M)	($13.6M)	($38.5M)
Net cash used in financing activities	($73.1M)	($59.2M)	($45.4M)	($43.2M)
Net increase (decrease) in cash, cash equivalents and restricted cash during the period	$110.0M	$51.5M	$23.1M	($900.0K)
Cash, cash equivalents and restricted cash at beginning of period	$26.9M	$26.9M	$26.9M	$37.9M
Cash, cash equivalents and restricted cash at end of period	$136.9M	$78.4M	$50.0M	$37.0M

Kaiser Aluminum Corp score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.