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Kaiser Aluminum

Produces semi-fabricated specialty aluminum products

Overview

Kaiser Aluminum is a North American producer of semi-fabricated aluminum products, making plate, sheet, coil, extrusions, and forgings for aerospace, automotive, packaging, and general engineering. It manufactures aluminum parts and assemblies and uses value-added fabrication with a pass-through approach to metal price swings. The company differentiates itself through long-standing vertical integration—from primary production to fabrication—and by serving high-barrier markets such as aerospace and defense, including expanding into packaging with the Warrick mill acquisition. Its goal is to provide engineered aluminum solutions and value-added products to North American customers across critical industries.

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About Kaiser Aluminum

Simplify's Rating
Why Kaiser Aluminum is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Automotive & TransportationIndustrial & ManufacturingAerospaceDefense

Company Size

1,001-5,000

Company Stage

IPO

Headquarters

Franklin, TN

Founded

1946

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Simplify's take

What believers are saying

  • Q3 2026 conversion revenue hit $439 million, and management kept full-year 2026 guidance.
  • Moody’s upgraded Kaiser to Ba3 in October 2026 after leverage fell to 2.0x.
  • Improving aerospace demand and packaging mix supported record Q2 2026 EBITDA and cash flow.

What critics are saying

  • Q3 2026 margins fell to 19.1% after Bellwood outage, scrap loss, and startup costs.
  • Fred Stephan’s November 1, 2026 CEO handoff risks execution during capacity ramping.
  • A failed aerospace or packaging cycle would expose Kaiser’s concentrated specialty-aluminum demand.

What makes Kaiser Aluminum unique

  • Kaiser’s aerospace and packaging qualifications create sticky, high-spec switching barriers.
  • Its conversion-revenue model reduces metal-price noise and exposes real operating leverage.
  • Warrick and Trentwood give Kaiser capacity breadth across plate, sheet, coil, and extrusions.

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Funding

Total Funding

$577.6M

Above

Industry Average

Funded Over

2 Rounds

Post IPO Debt funding comparison data is currently unavailable. We're working to provide this information soon!
Post IPO Debt Funding Comparison Coming Soon

Benefits

  • 401(k) Company Match
  • Paid Vacation
  • Relocation Assistance
  • Employee Resource Groups

Growth & Insights and Company News

6 month growth

0%

1 year growth

0%

2 year growth

0%
Yahoo Finance
Oct 22nd, 2026
Kaiser Aluminum sinks 23% as Q3 earnings miss, with $1.89 EPS and margin down to 19.1%

Kaiser Aluminum shares fell 23% after third-quarter adjusted earnings per share of $1.89 missed estimates. Its adjusted EBITDA margin slid to 19.1% from 23.2% a year earlier. Most of the drop came from a roughly $29 million swing in metal price lag, which the company expected. Adjusted EBITDA still grew 3% to $84 million, while conversion revenue rose 25% to $439 million. Operational problems cost about 6.4 points of margin. They included a planned outage at its Bellwood plant, higher metal costs from using less scrap, and start-up costs in packaging. Kaiser now expects 2026 adjusted EBITDA growth near the low end of its 45% to 55% range. Fred Stephan becomes chief executive officer on November 1.

Yahoo Finance
Sep 2nd, 2026
UBS upgrades Kaiser Aluminum to buy after 19% drop from August high

UBS upgraded Kaiser Aluminum to buy on 31 August, raising its price target to $184 from $179, roughly 18% above the trading price. Analyst Alex Stansbury reversed his neutral stance after shares fell 19% from their August record high of $199.89. UBS identified three temporary concerns that triggered the selloff: uncertainty over USMCA renegotiation, a CEO transition with Fred Stephan replacing Keith Harvey effective 1 November, and doubts about scrap profit margins. The bank argues investors overlooked improving fundamentals. Kaiser posted record second-quarter results with adjusted earnings of $5.53 per share on $1.3 billion revenue, beating Wall Street expectations. UBS views the drop as an opportunity to buy a stronger company at a discount.

Associated Press
Aug 17th, 2026
Kaiser Aluminum appoints Fred Stephan as CEO, Keith Harvey transitions to executive chairman

Kaiser Aluminum Corporation has appointed Fred Stephan as chief executive officer and president, effective 1 November 2026. He succeeds Keith Harvey, who has led the company since July 2020 and will transition to executive chairman whilst serving as special advisor through October 2027. Stephan brings 38 years of manufacturing experience, most recently serving as chief operating officer of Amcor Global Flexible Packaging Solutions, where he oversaw operations across more than 200 manufacturing sites in over 35 countries. He previously held senior leadership roles at Bemis Company, Johns Manville, and General Electric, including serving as president and CEO of GE Lighting Systems. The Franklin, Tennessee-based company produces semi-fabricated specialty aluminium products for aerospace, automotive, packaging, and industrial applications.

Yahoo Finance
Jul 22nd, 2026
Kaiser Aluminum reports record Q2 results with $437M conversion revenue and $166M adjusted EBITDA

Kaiser Aluminum Corporation reported record second quarter 2026 financial results, with net sales reaching $1.3 billion and conversion revenue of $437 million. The company posted net income of $97 million, or $5.72 per diluted share. Adjusted EBITDA totalled $166 million, with a margin of 38.1%. The company's net debt leverage ratio improved to 2.1x. Kaiser declared a quarterly dividend of $0.77 and raised its full year outlook. Chairman Keith Harvey attributed the strong performance to favourable end-market positioning, higher-value packaging mix, improving aerospace demand, and beneficial scrap spreads. Metal price lag provided a tailwind of approximately $27 million for the quarter. The Franklin, Tennessee-based company produces semi-fabricated specialty aluminium products for aerospace, packaging, engineering, and automotive applications.

Metal.com
Jul 7th, 2026
[SMM Aluminum Express News] Louisiana State Employees' Retirement Syst - Shanghai Metals Market (SMM)

[SMM Aluminum Express News] Louisiana State Employees' Retirement System (LASERS) has disclosed a new investment in Kaiser Aluminum, acquiring 7,100 s

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