Kaiser Aluminum eyes worst day ever after Q3 earnings miss

By Reuters News

** Kaiser Aluminum KALU.O shares plunging 22.2% to $119.73 and on track for record daily decline on Thurs after specialty aluminum producer's earnings miss Wall Street estimates

** KALU hits lowest levels since Mar 31; stock biggest S&P 1500 .SPSUP loser on the session

** Co late Weds posted adj Q3 EPS of $1.89, well below $2.36 consensus view of 4 analysts, per LSEG, saying unfavorable metal price lag compared to prior year reduced EBITDA growth

** Regarding balance of 2026, co sees conversion revenue growth at the high end of its 10%-15% outlook, reflecting continued end market strength and favorable pricing and mix

** But co sees adj EBITDA growth toward lower end of its 45%-55% target, due to planned operational outages, execution performance, customer year-end inventory alignment and metal-related headwinds

** With the decline, KALU up ~4% YTD vs ~9% gain in S&P 600 Materials index .SPSMCM; stock is roughly 40% below its all-time intraday high of $199.89 reached on Aug 12, 2026

** 2 analysts rate the stock "buy", 1 rates "hold" and 1 recommends "sell"; median PT $181

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