Every material Form 8-K Kaiser Aluminum has filed with the SEC since April 23, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Kaiser Aluminum reported preliminary unaudited third quarter 2026 results, with net sales up sharply from a year earlier on higher metal costs passed through to customers and higher shipments. Net income and diluted EPS fell from the prior-year quarter, though Adjusted EBITDA rose slightly, and the company now expects full-year Adjusted EBITDA growth toward the lower end of its 45% to 55% range. The filing also confirms a CEO change effective November 1, 2026.
Net sales were $1,215 million versus $844 million a year earlier; Conversion Revenue was $439 million, up 25%.
Net income was $31 million, or $1.84 per diluted share, versus $40 million, or $2.38, in the prior-year quarter.
Adjusted EBITDA was $84 million versus $81 million; the 2026 Adjusted EBITDA growth outlook of 45% to 55% is maintained but now expected toward the lower end.
Fred Stephan succeeds Keith A. Harvey as President and CEO effective November 1, 2026; a $0.77 quarterly dividend was declared.
Kaiser Aluminum said Fred Stephan, 61, a former Chief Operating Officer of Amcor's flexible packaging unit, will become CEO and President on November 1, 2026, succeeding Keith A. Harvey, who will become Executive Chairman. The Board will grow from nine to ten directors when Stephan joins, and the company amended its Key Employee Severance Plan, which covers Stephan's severance terms.
Stephan's offer letter sets a base salary of $1,150,000, a short-term cash incentive target of $1,440,000 and a long-term incentive target of $4,430,000 beginning in 2027.
Stephan receives a sign-on restricted stock unit grant with a target value of $2,000,000 on the November 1, 2026 effective date.
Harvey, CEO since July 31, 2020, will serve as a special advisor to Stephan through October 31, 2027.
The Board will increase from nine to ten directors on the effective date.
Kaiser Aluminum reported preliminary, unaudited second-quarter 2026 results, with net sales of $1.26 billion and net income of $97 million, up from $823 million and $23 million a year earlier. The company raised its full-year 2026 outlook, now expecting Adjusted EBITDA growth of 45% to 55% year over year, which benefits shareholders while noting that metal price tailwinds are not assumed to continue.
Net sales rose to $1.26 billion from $823 million; shipments increased 6% to 306 million pounds.
Diluted EPS was $5.72 versus $1.41; adjusted diluted EPS was $5.53 versus $1.21.
Full-year 2026 Adjusted EBITDA growth outlook raised to 45% to 55%; Conversion Revenue expected at the high end of the 10% to 15% range.
Quarterly dividend of $0.77 per share declared, payable August 14, 2026; net debt leverage ratio improved to 2.1x.
At its June 4, 2026 annual meeting, Kaiser Aluminum stockholders re-elected three Class I directors, approved an advisory vote on executive pay, ratified Deloitte & Touche LLP as auditor for 2026, and approved an amended 2021 Equity and Incentive Compensation Plan. The amendment adds 395,000 shares for equity awards, bringing the total available under the plan to 1,183,000 shares, which sets the pool for future stock-based pay that could dilute existing holders.
Plan amendment adds 395,000 shares; total available under the Amended 2021 Plan is 1,183,000 shares
Plan approved with 94.43% of votes cast for
Say-on-pay advisory vote approved with 98.68% of votes cast for
Deloitte & Touche LLP ratified as independent auditor for 2026 with 98.20% of votes cast for
Kaiser Aluminum reported record first quarter 2026 results, with net sales of $1.1 billion, up from $777 million a year earlier, and net income of $63 million, or $3.71 per diluted share, versus $22 million, or $1.31, in the prior year period. The company raised its full-year 2026 outlook, now expecting Adjusted EBITDA to improve 20% to 30% year-over-year.
Net income $63 million, or $3.71 per diluted share, versus $22 million, or $1.31, in Q1 2025
Adjusted EBITDA $129 million, a 31.8% margin on Conversion Revenue, versus $73 million a year earlier
Full-year 2026 outlook: Conversion Revenue to improve 10% to 15%; Adjusted EBITDA to improve 20% to 30%
Quarterly dividend of $0.77 per share declared April 13, 2026, payable May 15, 2026; net debt leverage ratio improved to 2.8x
Kaiser Aluminum reported preliminary fourth-quarter and full-year 2025 results, with Q4 net sales of $929 million, up about 21% year over year, and full-year net sales of $3.37 billion, up about 12%. Full-year net income was $113 million, or $6.77 per diluted share, and the company guided to 2026 Adjusted EBITDA growth of 5% to 15%, which matters to shareholders because it sets the company's outlook for the year ahead.
Q4 2025 net income was $28 million, or $1.68 per diluted share, versus $1.21 a year earlier
Full-year 2025 Adjusted EBITDA was $310 million, with an Adjusted EBITDA margin of 21.3%
Full-year 2025 shipments fell 5%, driven by commercial aerospace destocking and the Trentwood planned outage
For 2026, the company expects Conversion Revenue to rise 5% to 10% and Adjusted EBITDA to rise 5% to 15%
Kaiser Aluminum appointed Hugh (Jack) J. Barger, III as Executive Vice President – Sales and Marketing effective January 1, 2026, as part of a planned succession from Blain A. Tiffany, who is expected to retire. Tiffany signed a transition letter on January 7, 2026, to serve as Advisor to the Chief Executive Officer through December 31, 2026, keeping his salary, incentive targets and equity grants.
Jack Barger appointed Executive Vice President – Sales and Marketing, effective January 1, 2026
Blain Tiffany, former EVP – Sales and Marketing, becomes Advisor to the CEO through December 31, 2026
Tiffany keeps base salary, incentive targets and equity grants without proration, and leaves the Key Employee Severance Benefit Plan
Kaiser Aluminum said Executive Vice President – Manufacturing Jason D. Walsh is taking leave for health reasons effective November 17, 2025, and Thomas H. Robb has been appointed Senior Vice President – Manufacturing to assume his role. The filing contains no financial results, and the company did not state a duration for Walsh's leave.
Jason D. Walsh notified the company on November 14, 2025 of his leave for health reasons, effective November 17, 2025.
Thomas H. Robb, age 50, joined the company in August 2024 and previously served as Vice President – Finance and Packaging.
Robb has more than 20 years of combined international aluminum and metals experience, according to the press release.
Kaiser Aluminum Corporation issued $500 million of 5.875% senior notes maturing March 1, 2034, under an indenture dated November 5, 2025. The company said it plans to use the proceeds, together with revolving credit facility borrowings and/or cash on hand, to redeem all outstanding 4.625% senior notes due 2028, which would refinance that debt with new borrowing.
$500.0 million aggregate principal of 5.875% senior notes due March 1, 2034, closed November 5, 2025
Interest is payable semiannually on March 1 and September 1, with the first payment on March 1, 2026
Proceeds, plus revolver borrowings and/or cash on hand, are planned to redeem all existing 4.625% senior notes due 2028
Notes were sold to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S; the company may redeem them on or after March 1, 2029
Kaiser Aluminum reported preliminary unaudited third quarter 2025 results, with net income of $40 million, or $2.38 per diluted share, up from $9 million, or $0.54, a year earlier. The company also raised its full-year 2025 Adjusted EBITDA outlook to a 20% to 25% year-over-year improvement, citing stronger underlying performance and rising metal prices, partly offset by start-up costs for strategic investments.
Net sales rose to $844 million from $748 million, while conversion revenue fell 3% to $351 million and shipments fell 8%.
Adjusted EBITDA was $81 million, up from $46 million, and Adjusted EBITDA margin was 23.2%, up from 12.7%.
Full-year 2025 Adjusted EBITDA is now expected to improve 20% to 25% year-over-year.
Net debt leverage ratio improved to 3.6x as of September 30, 2025, from 4.3x at December 31, 2024.
On October 14, 2025, Kaiser Aluminum and certain subsidiaries entered Amendment No. 5 to their credit agreement with Wells Fargo as administrative agent, extending the maturity from April 7, 2027. The maturity is the earlier of March 1, 2028, if the 2028 senior notes are not extended, repaid, or refinanced by then, or October 14, 2030. The filing also allows an optional increase in revolving commitments and more room for secured debt and asset sales, which shareholders may view as added financing flexibility, though the filing gives no earnings figures.
Amendment No. 5 is dated October 14, 2025, with Wells Fargo Bank as administrative agent.
Maturity moves from April 7, 2027, to the earlier of March 1, 2028 (conditional on the 2028 senior notes) or October 14, 2030.
Borrowing is capped at the lesser of $575 million and a borrowing base tied to receivables, inventory and cash.
The Company may request up to $200 million of added revolving commitments plus a FILO tranche, subject to lender agreement.
Kaiser Aluminum's board appointed James D. Hoffman as an independent director on September 18, 2025. Hoffman, 67, previously served as CEO of Reliance, Inc. from January 2019 to December 2022. The appointment adds a director with metals distribution experience, though the filing does not describe any financial effect.
Board appointed James D. Hoffman as a Class II director on September 18, 2025, with a term expiring at the 2026 annual meeting
Hoffman will serve on the compensation and nominating and corporate governance committees
Hoffman was CEO of Reliance, Inc. from January 2019 to December 2022 and a Reliance board member from October 2019 to December 2022
His annual cash retainer and restricted stock grant will be prorated for service of less than one full year
Kaiser Aluminum disclosed that director Kevin W. Williams notified the board on July 28, 2025 that he will resign effective August 1, 2025. The company said the resignation was not due to any disagreement over its operations, policies or practices, and the board plans to fill the seat with candidates who have critical skills for executing company strategy and board succession planning.
Kevin W. Williams notified the board on July 28, 2025 of his decision to resign as a director.
Resignation takes effect August 1, 2025.
The filing states no disagreement with the company on operations, policies or practices.
The board anticipates filling the vacancy but has not named a replacement.
Kaiser Aluminum reported preliminary, unaudited second quarter 2025 results, with net sales of $823 million and diluted EPS of $1.41, up from $773 million and $1.15 a year earlier. The company raised its full-year 2025 Adjusted EBITDA outlook to a 10% to 15% year-over-year increase, but Adjusted EBITDA ($68 million) and adjusted diluted EPS ($1.21) were both lower than in the prior-year quarter.
Net sales rose to $823 million from $773 million, and net income reached $23 million versus $19 million in Q2 2024.
Adjusted EBITDA fell to $68 million from $74 million, and adjusted diluted EPS fell to $1.21 from $1.63.
Full-year 2025 Adjusted EBITDA outlook raised to a 10% to 15% year-over-year improvement; Conversion Revenue outlook maintained at 5% to 10%.
Quarterly cash dividend of $0.77 per share declared July 15, 2025, payable August 15, 2025.
Kaiser Aluminum Corporation appointed Glenda J. Minor as an independent director on June 10, 2025, and she will sit on the audit and compensation committees. At the same day's 2025 Annual Meeting, stockholders re-elected three Class I directors, approved executive pay on an advisory basis, and ratified Deloitte & Touche LLP as auditor for 2025.
Minor, 68, is a Class II director with a term ending at the 2026 annual meeting; she previously was CFO of Evraz North America Limited (2010 to 2016).
Kimberly T. Glas received 14,545,330 votes for and 98,738 withheld; Keith A. Harvey received 14,341,260 for; Donald J. Stebbins received 13,053,742 for.
Advisory say-on-pay vote: 14,374,781 for and 251,938 against; 98.16% of votes cast were for.
Deloitte & Touche LLP ratified as 2025 auditor with 15,082,533 for and 227,302 against; 98.45% of votes cast were for.
Kaiser Aluminum reported preliminary, unaudited first-quarter 2025 results, with net sales of $777 million and net income of $22 million, both up from the prior-year quarter. Conversion Revenue, a non-GAAP measure, fell 1% to $363 million. The company expects full-year 2025 Adjusted EBITDA to improve 5% to 10% versus recast 2024, which supports the shareholder view that earnings are trending higher.
Net sales rose to $777 million from $738 million; diluted EPS was $1.31 versus $1.12
Adjusted EBITDA was $73 million, with a 20.2% margin versus 14.7% a year earlier
2025 outlook: Conversion Revenue up 5% to 10% and Adjusted EBITDA up 5% to 10% versus recast 2024
Quarterly dividend of $0.77 per share declared April 15, payable May 15, 2025
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