Exhibit 99.1

Kaiser Aluminum Corporation Reports
Fourth Quarter and Full Year 2014 Financial Results


Full Year 2014 Financial Results and Business Highlights:
Net Sales $1.4 Billion; Value Added Revenue $733 Million
Operating Income $138 Million; Adjusted EBITDA $162 Million; EBITDA Margin 22%
Record Heat Treat Plate, Automotive Extrusions, and Total Shipments
Record Manufacturing Efficiency Facilitated by Completed Capital Investments
Significant Impact From Lower Heat Treat Plate Prices
~$70 Million Returned to Shareholders Through Quarterly Dividends and Share Repurchases
Completion of a New Five-Year Labor Agreement for Trentwood / Newark through 2020


FOOTHILL RANCH, Calif., February 17, 2015
- Kaiser Aluminum Corporation (NASDAQ:KALU) today reported net income of $72 million, or $3.86 earnings per diluted share, for the year ended December 31, 2014 compared to $105 million, or $5.44 earnings per diluted share, for the prior year ended December 31, 2013. Excluding the impact of non-run-rate items, adjusted net income was $63 million, or $3.38 per diluted share, for the full year 2014 compared to the prior year adjusted net income of $70 million, or $3.65 per diluted share.

Value added revenue for the full year 2014 of $733 million was comparable to 2013, as record shipments of heat treat plate and automotive extrusions largely offset the impact of significantly lower heat treat plate prices. Adjusted consolidated EBITDA and adjusted EBITDA margin on value added revenue in 2014 were $162 million and 22%, respectively, compared to $174 million and 24% in 2013. The year-over-year decline in adjusted consolidated EBITDA and adjusted EBITDA margin primarily reflected the impact of lower pricing, particularly for heat treat plate, which was partially offset by record shipment volumes and continued improvement in manufacturing cost efficiency.

Summary Results

“During the year we established new records for heat treat plate, automotive extrusions, and total shipments,” said Jack A. Hockema, President, CEO, and Chairman. “These records were achieved despite the ongoing impact of the supply chain inventory overhang on demand for our aerospace products. Investments at our Spokane (Trentwood), Washington facility, particularly the Phase 5 capacity expansion and completion of the new casting complex, along with the investments made to expand our automotive extrusion platform, were key factors contributing to the record shipments as we continued to realize increased capacity and improved productivity.

“Continued improvement in manufacturing cost efficiency across our platform, particularly at our Trentwood and Kalamazoo, Michigan facilities, established a new level in 2014 from which to derive further benefits in 2015 and beyond. These improvements were offset by the negative impact of significantly lower heat treat plate prices due to competitive pressure on spot prices and lower effective prices on contract business that in prior years reflected penalty payments in lieu of minimum volume requirements.

“In addition to significantly enhancing our operational platform, we remained committed to returning cash to shareholders through quarterly dividends and share repurchases, which totaled approximately $70 million for the year. Further reflecting our continued confidence in the long-term outlook for our business, our Board of Directors recently authorized a 14% increase in our quarterly dividend to $0.40 per share following a 17% dividend increase in 2014.




The following information was filed by Kaiser Aluminum Corp (KALU) on Tuesday, February 17, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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