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Feb 21 (Reuters) - Kaiser Aluminum Corp:
* Kaiser Aluminum Corporation reports fourth quarter and full year 2016 financial results
* Q4 adjusted earnings per share $1.27 excluding items
* Q4 sales $332 million versus i/b/e/s view $328.4 million
* Q4 earnings per share view $1.18 -- Thomson Reuters I/B/E/S
* Q4 earnings per share $1.37
* Qtrly shipments 152 million lbs versus 147 million lbs
* Kaiser Aluminum Corp says qtrly value added revenue $201 million versus. $190 million last year
* Kaiser Aluminum -significant planned equipment outages,construction activity during h1 2017 that are integral to trentwood efficiency and modernization project
* "We expect supply chain destocking to more than offset real demand growth in 2017"
* "industry demand for our applications expected to be down approximately 5pct year-over-year in 2017"
* "in 2017, while we expect double-digit growth in shipments, we anticipate single-digit growth in value added revenue"
* Kaiser Aluminum - "overall, we expect 2017 to be a challenging year with headwinds from commercial aerospace supply chain inventory overhang"
* Kaiser Aluminum - "for our automotive applications, we expect that north american build rates will be down approximately 1pct to 2pct in 2017" Source text for Eikon: Further company coverage: