Kaiser Aluminum 1Q Net $39.1 Million On Derivative Gains

Kaiser ALuminum Corp.'s (KALU) first-quarter net income jumped to $39.1 million, or $1.92 a share, from $17.1 million, or 85 cents a share, a year ago, aided by "significant" unrealized mark-to-market gains on hedging derivative transactions.

Net sales for the Foothill Ranch, Calif., fabricated aluminum products manufacturer rose 2% to $399 million from $392 million a year earlier.

Analysts polled by Thomson Reuters, on average, expected earnings of $1.06 a share on revenue of $379 million.

Shares of Kaiser closed Wednesday up $3.07, or 4.3%, at $73.94.