Aug. 17, 2016

Aleris Reports Quarterly Loss

Aleris reported a net loss of $13 million in the second quarter, an improvement on the $19 million loss posted during the same period of 2015. Through the first half, the aluminum rolling mill’s net loss of $19 million was a reversal from the $87 million in earnings through six months of 2015.

The company’s net sales totaled $704.9 million in the quarter, a decline of 8.9 percent from 2015. Year-to-date sales of $1.37 billion were down 10.0 percent compared to the prior year.

"We are pleased with our results in the second quarter as we see favorable demand trends across most of our customer base, which more than offset the macro headwinds from material prices," said President and CEO Sean Stack. "Our new multi-year agreement with Airbus to supply higher volumes and an expanded product range from two continents validates both our growth strategy and technology focus.”

North America segment income increased to $28 million in the second quarter from $25 million in second-quarter 2015. Driving the increases were higher volumes and improved rolling margins, offset by unfavorable scrap spreads. The increase in segment income also resulted from a $9 million favorable variance in metal price lag.

Aleris estimates segment income and adjusted EBITDA for the second half of 2016 will be higher than the second half of 2015, driven by improved global aerospace volumes, improved North American building and construction volumes and continued productivity gains.


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Friday, December 15, 2017