U.S. Markets closed

Kaiser beats Street 4Q forecasts

FOOTHILL RANCH, Calif. (AP) _ Kaiser Aluminum Corp. (KALU) on Tuesday reported fourth-quarter profit of $24.5 million.

On a per-share basis, the Foothill Ranch, California-based company said it had net income of $1.37. Earnings, adjusted for non-recurring gains, were $1.27 per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.22 per share.

The aluminum products company posted revenue of $332 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $329.9 million.

For the year, the company reported net income of $91.7 million, or $5.09 per share, swinging to a profit in the period. Revenue was reported as $1.33 billion.

Kaiser shares have climbed 6 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $82.50, an increase of almost 7 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

_____

Keywords: Kaiser Aluminum, Earnings Report