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Kaiser beats Street 1Q forecasts

FOOTHILL RANCH, Calif. (AP) _ Kaiser Aluminum Corp. (KALU) on Wednesday reported first-quarter net income of $36 million.

The Foothill Ranch, California-based company said it had profit of $2.04 per share. Earnings, adjusted for non-recurring gains, came to $1.52 per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.12 per share.

The aluminum products company posted revenue of $355.3 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $348.5 million.

Kaiser shares have risen slightly since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $77.97, a decrease of 11 percent in the last 12 months.

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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

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Keywords: Kaiser Aluminum, Earnings Report