Keeley Gabelli SMID Cap Value Fund on Kaiser Aluminum Corp.
Thesis
Kaiser reported a strong quarter driven by favorable metal pricing, improved mix, and operating gains, allowing management to raise full-year guidance. Aerospace shipments are recovering with higher aircraft build rates and easing destocking. The Warrick coated-line expansion is also increasing higher-margin packaging shipments as utilization ramps.
“management to raise its full-year revenue and EBITDA guidance.”