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Kaiser Aluminum (KALU) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 22, 2026 · Kaiser Aluminum (KALU) Q3 2026 earnings results →

Q3 2026 Revenue up 44% year over year to $1.2B · 3¢ of every $1 of revenue kept as net profit · operating margin 4.5%

Kaiser Aluminum made $1.2B in Q3 2026 (+44% Y/Y): Packaging $561M, Aero Hs Products $292M, Ge Products $278M. Operating margin 4.5%, net earnings $31.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 22, 2026.

Revenue$1.2B

Year over year+44%

Operating margin4.5%

Net earnings$31.0M

Operating cash flow$101M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $1.2B in Q3 2026, up 44% year over year and down 3% from the previous quarter. Packaging was the largest line at 46% of revenue. Packaging added $0.17B year over year (up 43%), 45% of the total change.

Operating profit was $0.06B, a 4.5% margin (down 1.2 points year over year). Of the extra revenue versus Q3 2025, 2% reached operating profit, below the 6% margin then. Total costs grew 46% against revenue growth of 44%. The fastest-growing cost line was Cost of revenue (+51%). Net earnings were $0.03B, down 22% year over year. The effective tax rate was 22.9%.

Operating cash flow was $0.10B (up 70% year over year), 325% of net earnings. Non-cash charges added back $0.03B of depreciation and amortization and $3.7M of share-based compensation. Working capital and other items added $0.04B. Capital expenditures of $0.03B left free cash flow of $0.07B.

Quarterly history

Quarter	Form	Filed	Revenue	Y/Y	Op. margin	Net earnings	Op. cash flow
Q3 2026	10-Q	Oct 22, 2026	$1.2B	+44%	4.5%	$31.0M	$101M
Q2 2026	10-Q	Jul 23, 2026	$1.3B	+53%	10.6%	$96.8M	$59.5M
Q1 2026	10-Q	Apr 23, 2026	$1.1B	+42%	8.8%	$62.5M	$87.9M
Q4 2025	10-K	Feb 19, 2026	$929M	+21%	6.5%	$28.2M	−$20.6M
Q3 2025	10-Q	Oct 23, 2025	$844M	+13%	5.8%	$39.5M	$59.1M
Q2 2025	10-Q	Jul 24, 2025	$823M	+6%	4.6%	$23.2M	$15.9M
Q1 2025	10-Q	Apr 24, 2025	$777M	+5%	5.3%	$21.6M	$57.0M

Charts

Latest (Q3 2026): Y/Y +44%, Q/Q -3%.

From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.

Latest (Q3 2026): Net income $31.0M, Operating cash flow $101M.

+4.5% since FY2020: more shares outstanding (issuance, stock pay).

Rolling Drawing & Extruding of Nonferrous Metals; dot size is quarterly revenue; dashed lines are the industry's medians.