BUZZ - Kaiser Aluminum may face its worst day ever as third-quarter results miss expectations

October 22 - ** Kaiser Aluminum (KALU.O) shares plunged 22.2% to $119.73 on Thursday, set to record the largest single-day drop, after the specialty aluminum producer missed Wall Street expectations.

** KALU shares fell to their lowest point since March 31; the stock became one of the biggest decliners in the S&P 1500 Index .SPSUP on the day.

** According to data from London Stock Exchange Group (LSEG), the company reported third-quarter adjusted earnings per share (link) of $1.89 on Wednesday evening, well below the consensus estimate of $2.36 from four analysts. The company said lagging metal prices, compared to the same period last year, led to a slowdown in EBITDA growth.

** For the remainder of 2026, the company expects conversion revenue growth to reach the upper end of the 10%-15% projected range, reflecting continued strong end-market demand as well as favorable pricing and product mix.

** However, the company expects adjusted EBITDA growth to trend towards the lower end of its 45%-55% target range, due to factors including planned plant maintenance, execution performance, year-end customer inventory adjustments, and downside pressure related to metal prices.

** As a result, KALU has gained roughly 4% year-to-date, compared to a roughly 9% gain for the S&P 600 Materials Index .SPSMCM. The stock remains about 40% below its all-time intraday high of $199.89 set on August 12, 2026.

** Two analysts rate the stock as "Buy," one as "Hold," and one recommends "Sell;" the median price target is $181.

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