Kaiser Aluminum(KALU) - 2025 Q2 - Earnings Call Presentation

Financial Performance Highlights - Second Quarter 2025 EBITDA was $68 million, with an EBITDA margin of 18.1%[18] - First Half 2025 EBITDA margin improved by 180 basis points year-over-year compared to First Half 2024[30] - Kaiser Aluminum is raising its full year 2025 EBITDA expectations, anticipating a 10% - 15% year-over-year increase[16, 18] End Market Analysis - Aero/HS shipments decreased by 4% from 2Q24 to 2Q25[22] - Aero/HS conversion revenue decreased by 5% from 2Q24 to 2Q25[24] - Packaging shipments increased by 3% from 2Q24 to 2Q25[22] - Packaging conversion revenue increased by 9% from 2Q24 to 2Q25[24] - General Engineering shipments increased by 5% from 2Q24 to 2Q25[22] - General Engineering conversion revenue increased by 3% from 2Q24 to 2Q25[24] - Automotive shipments decreased by 15% from 2Q24 to 2Q25[22] - Automotive conversion revenue decreased by 4% from 2Q24 to 2Q25[24] Outlook and Investments - Full run-rate for the Warrick roll coat line is expected in late 4Q 2025[18, 40] - Trentwood Phase VII is on track for completion in early 4Q 2025[18] - Kaiser Aluminum anticipates capital expenditures for FY 2025 to be in the range of $120 to $130 million[50] - Free Cash Flow for FY 2025 is expected to be in the range of $50 to $70 million[50]