Kaiser Reports Steady Outlook and Shipments for 2024

Kaiser Aluminum

Kaiser Aluminum, a leading aluminum roller based in Tennessee, has maintained its outlook for total 2024 shipments, despite flat third-quarter shipments and earnings. The company has projected that demand will remain consistent with previous expectations through the end of the year, but it remains cautious due to ongoing commercial and labor negotiations with its aerospace and high-strength applications customers.

In its general engineering sector, Kaiser Aluminum has destocked its long products and is now shipping products in line with market demand. Although the company did not make strong forecasts for 2025, it highlighted that about 70% of the capacity at its new coating line at the Warrick mill is already contracted.

For the third quarter of 2024, Kaiser Aluminum reported shipments across all sectors of 292 million pounds, a slight decline from the 299 million pounds reported in the same period of 2023. Despite the decrease in shipments, the company reported a profit of $12 million, up from $5 million in the third quarter of the previous year.

Kaiser’s consistent performance in the face of challenges underscores its resilience in the global aluminum market, even amid uncertainties in the aerospace sector and labor negotiations.