Kaiser’s earnings jump sevenfold in third qtr.
Oct 25, 2012 | 12:58 PM
| Suzy Waite
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Kaiser Aluminum,
quarterly earnings,
Jack Hockema,
aerospace,
automotive,
service center destocking,
aluminum,
Suzy Waite
NEW YORK — Kaiser Aluminum Corp.’s net income increased more than sevenfold in the third quarter vs. the same period last year due to strong automotive and aerospace demand, improved pricing and better operating leverage.
The Foothill Ranch, Calif.-based producer reported net income of $29.2 million for the three months ended Sept. 30, up from $4.1 million in the same 2011 period.Shipments of 148 million pounds in the quarter were up 9.6 percent from 135 million pounds in the third quarter of 2011.....
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