FOOTHILL RANCH, Calif. (AP) _ Kaiser Aluminum Corp. (KALU) on Wednesday reported fourth-quarter net income of $23.6 million, after reporting a loss in the same period a year earlier.
The Foothill Ranch, California-based company said it had profit of $1.39 per share. Earnings, adjusted for one-time gains and costs, came to $1.75 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.53 per share.
The aluminum products company posted revenue of $389 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $388.9 million.
For the year, the company reported profit of $91.7 million, or $5.43 per share. Revenue was reported as $1.59 billion.
Kaiser shares have climbed 23 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $109.67, a climb of almost 4 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KALU at https://www.zacks.com/ap/KALU