---
title: "Kaiser Aluminum | 8-K: FY2025 Q4 Revenue Beats Estimate at USD 929 M"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/276275808.md"
datetime: "2026-02-18T21:42:24.000Z"
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  - [zh-CN](https://longbridge.com/zh-CN/news/276275808.md)
  - [en](https://longbridge.com/en/news/276275808.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/276275808.md)
---

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# Kaiser Aluminum | 8-K: FY2025 Q4 Revenue Beats Estimate at USD 929 M

Revenue: As of FY2025 Q4, the actual value is USD 929 M, beating the estimate of USD 910 M.

EPS: As of FY2025 Q4, the actual value is USD 1.68.

EBIT: As of FY2025 Q4, the actual value is USD 74.6 M.

#### Fourth Quarter 2025 Financial Highlights

-   Net Income: $28 million, compared to $20 million in the prior year period .
-   Adjusted Net Income: $26 million, compared to $18 million in the prior year period .
-   Adjusted EBITDA: $88 million, compared to $67 million in the prior year period .
-   Adjusted EBITDA Margin: 24.1%, compared to 18.6% in the prior year period .
-   Operating Income (As Reported): $61 million, compared to $39 million in the prior year period .
-   Adjusted Operating Income: $57 million, compared to $37 million in the prior year period .
-   Hedged Cost of Alloyed Metal: -$564 million, compared to -$407 million in the prior year period .

#### Full Year 2025 Financial Highlights

-   Net Income: $113 million, compared to $66 million in the prior year period .
-   Adjusted Net Income: $100 million, compared to $60 million in the prior year period .
-   Adjusted EBITDA: $310 million, compared to $241 million in the prior year period .
-   Adjusted EBITDA Margin: 21.3%, compared to 16.6% in the prior year period .
-   Operating Income (As Reported): $189 million, compared to $112 million in the prior year period .
-   Adjusted Operating Income: $188 million, compared to $125 million in the prior year period .
-   Hedged Cost of Alloyed Metal: -$1,920 million, compared to -$1,568 million in the prior year period .
-   Net Debt Leverage Ratio: Improved to 3.4x as of December 31, 2025, from 4.3x at December 31, 2024 .
-   Cash on Hand: $7 million as of December 31, 2025, compared to $18.4 million as of December 31, 2024 .
-   Total Liquidity: $547 million as of December 31, 2025, consisting of cash and cash equivalents of $7 million and borrowing availability under the Revolving Credit Facility of $540 million .
-   Outstanding Borrowings (Revolving Credit Facility): $22 million as of December 31, 2025 .

#### Operating Costs (Full Year 2025 vs 2024)

-   Cost of Products Sold, Excluding Depreciation and Amortization: $2,930.6 million, compared to $2,666.6 million in the prior year period .
-   Depreciation and Amortization: $122.5 million, compared to $116.4 million in the prior year period .
-   Selling, General, Administrative, Research and Development: $129.2 million, compared to $120.8 million in the prior year period .
-   Total Costs and Expenses: $3,184.2 million, compared to $2,911.8 million in the prior year period .

#### Cash Flow (Full Year 2025 vs 2024)

-   Operating Activities: $111.4 million cash provided, compared to $167.1 million cash provided in the prior year period .
-   Investing Activities: -$77.8 million cash used, compared to -$174.6 million cash used in the prior year period .
-   Capital Investments: $137 million were funded by cash on hand and Adjusted EBITDA in full year 2025 .

#### Segment Performance (Full Year 2025 vs 2024)

-   **Aero/HS Products**:
    -   Shipments: 204.8 million pounds, compared to 245.2 million pounds in the prior year period .
    -   Conversion Revenue: $456.6 million, compared to $529.5 million in the prior year period .
-   **Packaging**:
    -   Shipments: 560.5 million pounds, compared to 592.7 million pounds in the prior year period .
    -   Conversion Revenue: $543.6 million, compared to $490.0 million in the prior year period .
-   **GE Products**:
    -   Shipments: 247.5 million pounds, compared to 228.7 million pounds in the prior year period .
    -   Conversion Revenue: $330.8 million, compared to $312.8 million in the prior year period .
-   **Automotive Extrusions**:
    -   Shipments: 95.4 million pounds, compared to 101.4 million pounds in the prior year period .
    -   Conversion Revenue: $122.2 million, compared to $119.7 million in the prior year period .

#### Outlook / Guidance

For the full year 2026, Kaiser Aluminum Corporation anticipates a 5% to 10% increase in Conversion Revenue and a 5% to 15% increase in Adjusted EBITDA year-over-year. This expected growth is driven by strengthening operational performance and metal assumptions aligned with current market futures curves .

### 相關股票

- [Kaiser Aluminum (KALU.US)](https://longbridge.com/zh-HK/quote/KALU.US.md)

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