Kaiser Aluminum Corporation
kaiseraluminum.comWhat Do They Do?
Makes specialty aluminum products for aerospace and defense manufacturers, beverage and food packaging companies, and industrial customers such as automotive suppliers and metal service centers.
10-K for FY2025, filed Feb 19, 2026Kaiser Aluminum Corporation, a Delaware corporation, manufactures and sells semi-fabricated specialty aluminum mill products that include…View ↗
We have long-standing relationships with our customers, which consist primarily of blue-chip companies, including leading aerospace and…View ↗
Aero/HS Products. Our Aero/HS Products include heat treated plate and sheet, hard alloy extruded shapes, cold finish rod and bar, seamless…View ↗
Packaging. Our Packaging products consist of bare and coated 3000 and 5000-series alloy aluminum coil used in the beverage and food…View ↗
Automotive Extrusions. Automotive Extrusions consists primarily of 6000-series extruded aluminum products for many North American…View ↗
Our customer base is made up of a combination of key manufacturers and tier one suppliers in the Aero/HS Products, Packaging and Automotive…View ↗
How Do They Make Money?
Customers generally owe for most aluminum products when they ship or arrive; for some products, payment is tied to production progress. Aluminum and alloy costs generally pass through to customers, so the company mainly earns from processing the metal into semi-finished products.
10-K for FY2025, filed Feb 19, 2026Revenue Recognition. We recognize revenue as we satisfy performance obligations and transfer control of products to our customers. For…View ↗
Contracts are generally short-term and based on customer purchase orders, although purchase orders may reference a longer term “blanket…View ↗
A fundamental part of our business model is to remain neutral to the impact from fluctuations in the market price for aluminum and certain…View ↗
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10-K for FY2025, filed Feb 19, 2026
FY2025 revenue by product or service ↗
$3.4B
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10-K for FY2025, filed Feb 19, 2026
$3.4B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Aero/HS Products
Sold outright
10-K for FY2025, filed Feb 19, 2026 |
25%
FY2022: 20%
|
Aero/HS Products, FY2025
$837.8M Sources
|
Sold outright |
|
Packaging
Sold outright
10-K for FY2025, filed Feb 19, 2026 |
44%
FY2022: 46%
|
Packaging, FY2025
$1.5B Sources
|
Sold outright |
|
Automotive Extrusions
Sold outright
|
8.5%
FY2022: 7.4%
|
Automotive Extrusions, FY2025
$286.4M Sources
|
Sold outright |
|
GE Products
Sold outright
10-K for FY2025, filed Feb 19, 2026 |
23%
FY2022: 26%
|
GE Products, FY2025
$759.2M Sources
|
Sold outright |
|
Other Products
Sold outright
|
0.0%
FY2022: 0.8%
|
Other Products, FY2025
$0 Sources
|
Sold outright |
Who Are Their Customers?
Aerospace, automotive, and packaging manufacturers and tier-one suppliers buy directly; metal service centers are key buyers of general engineering products and also buy some Aero/HS products.
10-K for FY2025, filed Feb 19, 2026Aero/HS Products. We sell our Aero/HS Products to metal service centers, as well as directly to aerospace OEMs and tier one manufacturers.…View ↗
Packaging. Our Packaging products are sold primarily to North American beverage and food can manufacturers. Sales are made primarily under…View ↗
GE Products. A majority of our GE Products are sold to large metal service centers in North America on an order-by-order basis, with orders…View ↗
Automotive Extrusions. Our Automotive Extrusions are sold primarily to tier one automotive suppliers. Almost all sales are made under…View ↗
Our customer base is made up of a combination of key manufacturers and tier one suppliers in the Aero/HS Products, Packaging and Automotive…View ↗
10-K for FY2025, filed Feb 19, 2026
Concentrations. For the years ended December 31, 2025, December 31, 2024, and December 31, 2023, one customer represented 16%, 16%, and…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 3 cents of every revenue dollar as net income in FY2025, but spent more cash than it brought in: free cash flow was −$25.5M.
10-K for FY2025, filed Feb 19, 2026
$188.8MView ↗
10-K for FY2025, filed Feb 19, 2026
$112.5MView ↗
10-K for FY2025, filed Feb 19, 2026
−$25.5MView ↗
How Are They Changing?
10-Q for Q3 FY2026, filed Oct 22, 2026
Open tableView ↗
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Aug 17, 2026
Names Fred Stephan as CEO and President; Keith Harvey to become Executive Chairman
Stephan is scheduled to take over on November 1, 2026; Harvey is to remain Executive Chairman.
Sources
8-K, filed Aug 17, 2026
On August 17, 2026, Kaiser Aluminum Corporation (the “Company”) announced that Fred Stephan will become the Chief Executive Officer and…View ↗
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Jul 22, 2026
Raises full-year outlook following second-quarter results
The company announced second-quarter results and raised its full-year outlook.
Sources
8-K, filed Jul 22, 2026
Raising Full Year OutlookView ↗
Growing. Revenue grew 29% in 4 years, from $2.6B in FY2021 to $3.4B in FY2025, about 6% a year.
Other industrial products
The older report described other industrial products and said the company was exiting those non-core applications. The latest overview centers on Aero/HS, packaging, general engineering, and automotive extrusion markets.
10-K for FY2022, filed Feb 24, 2023 10-K for FY2025, filed Feb 19, 2026Other Products. Other products consist of rerolled, extruded, drawn and cast billet aluminum products for a variety of North American…View ↗
Kaiser Aluminum Corporation, a Delaware corporation, manufactures and sells semi-fabricated specialty aluminum mill products that include…View ↗
Who Do They Compete With?
Competes with Arconic, Constellium, Novelis, Tri-Arrows Aluminum, and Norsk Hydro
10-K for FY2025, filed Feb 19, 2026Our primary competitors in the global market for Aero/HS Products are Arconic Corporation, Constellium N.V. and Novelis Inc. In North…View ↗
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