Exhibit 99.1
Kaiser Aluminum Corporation Reports
Fourth Quarter and Full Year 2017 Financial Results

Fourth Quarter 2017 Highlights:
Net Sales $353 Million; Value Added Revenue $194 Million
Net Loss $15 Million Reflecting $37 Million Non-Cash Tax Expense Related to Tax Law Change
Adjusted EBITDA $48 Million; Adjusted EBITDA Margin 24.6%

Full Year 2017 Results and Business Highlights:
Net Sales $1.4 Billion; Value Added Revenue $786 Million
Net Income $45 Million; Adjusted EBITDA $199 Million; Adjusted EBITDA Margin 25.3%
Strong Growth in Automotive Extrusions and Solid Industrial Demand
Aerospace Demand Dampened due to Supply Chain Destocking
Compressed Sales Margins Partially Offset Favorable Scrap Raw Material Prices
Continued Improvement in Manufacturing Cost Performance
Returned $115 Million to Shareholders Through Quarterly Dividends and Share Repurchases


FOOTHILL RANCH, Calif., February 21, 2018
- Kaiser Aluminum Corporation (NASDAQ:KALU) today announced fourth quarter 2017 results, reporting a net loss of $15 million, or $0.90 loss per diluted share, compared to net income and earnings per diluted share of $25 million and $1.37 respectively for the prior year period. Reported fourth quarter 2017 results reflected an incremental $37 million non-cash tax expense as a result of federal tax reform legislation primarily related to revaluing the Company's deferred tax assets. Excluding the impact of this one-time charge and other non-run-rate items, adjusted net income was $20 million or $1.22 per diluted share, for the fourth quarter 2017, down from adjusted net income of $23 million or $1.27 per diluted share, for the fourth quarter 2016.

For the full year 2017, the Company reported net income of $45 million or $2.63 per diluted share, compared to net income of $92 million, or $5.09 per diluted share in the prior year period. Excluding the impact of the one-time tax charge in the fourth quarter and other non-run-rate items, adjusted net income was $88 million or $5.09 per diluted share, for the full year 2017 compared to adjusted net income of $87 million or $4.83 per diluted share for the prior year period. Reported full year 2017 results reflected a 66% effective tax rate due to the one-time tax charge in the fourth quarter. Reported and as adjusted 2016 results included approximately $11 million of additional pre-tax expense associated with the early retirement of the Company’s 8.25% unsecured senior notes in the second quarter.

Fourth Quarter and Full Year 2017 Summary

“Fourth quarter 2017 results were consistent with our expectations reflecting normal seasonal demand weakness and higher planned major maintenance expense. As expected, our Trentwood facility continued to experience some inefficiencies during the quarter as the ramp-up of new equipment was completed,” said Jack A. Hockema, Chairman and Chief Executive Officer.

“For the full year 2017, we achieved record shipments and near record adjusted EBITDA and margin despite headwinds from aerospace supply chain destocking, lower-than-anticipated automotive build rates, competitive price pressure, and construction-related disruptions at our Trentwood facility,” said Mr. Hockema.

Growth in overall shipments was driven by strong demand for the Company's general engineering and automotive applications that more than offset tempered demand for aerospace applications due to supply chain destocking. Value added revenue declined from the prior year as a result of the leaner mix and the impact of price pressure on higher value added revenue products. Sales margins were compressed on high value added products as competitive price pressure prevented pass through of the increasing contained metal costs. Favorable scrap raw material prices



The following information was filed by Kaiser Aluminum Corp (KALU) on Wednesday, February 21, 2018 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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