KAISER ALUMINUM CORP
For the period ended Dec 31, 2025. Filed Feb 19, 2026.
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FY2025 · Filed Feb 19, 2026
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Net Income Per Share
- Net Income Per Share
Basic net income per share is computed by dividing distributed and undistributed net income allocable to common shares by the weighted-average number of common shares outstanding during the applicable period. The basic weighted-average number of common shares outstanding during the period excludes non-vested share-based payment awards. Basic and diluted net income per share was calculated under the two-class method for the years ended December 31, 2025, 2024, and 2023.
The following table sets forth the computation of basic and diluted net income per share (in millions of dollars, except share and per share amounts):
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024As Adjusted1 | 2023As Adjusted1 | |
| Numerator: | |||
| Net income | 112.5 | 65.7 | 67.8 |
| Less: earnings attributable to participating securities2 | — | — | (0.1) |
| Net income available to common shareholders | 112.5 | 65.7 | 67.7 |
| Denominator – Weighted-average common shares outstanding (in thousands): | |||
| Basic | 16,169 | 16,069 | 15,991 |
| Add: dilutive effect of non-vested common shares, restricted stock units and performance shares3 | 453 | 250 | 140 |
| Diluted | 16,622 | 16,319 | 16,131 |
| Net income per common share, Basic | $6.96 | $4.08 | $4.25 |
| Net income per common share, Diluted | $6.77 | $4.02 | $4.21 |
Represents distributed and undistributed earnings allocated to non-vested RSAs that contain non-forfeitable rights to dividends.
Quantities in the following discussion are denoted in whole shares. For the years ended December 31, 2025, 2024, and 2023, approximately 200,1,100, and 35,000 shares, respectively, were excluded from the weighted-average diluted shares computation as their inclusion would have been anti-dilutive.
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