KOPPERS REPORTS FIRST QUARTER 2026 RESULTS
Rhea-AI Summary
Koppers (NYSE: KOP) reported Q1 2026 results with net sales $455.3M, net income of $7.1M and diluted EPS of $0.35. Adjusted EBITDA was $49.3M. Operating cash flow was $46.3M and free cash flow $34.9M. 2026 guidance: net sales $1.9-2.0B, adjusted EBITDA $240-260M, adjusted EPS $3.80-4.60, operating cash flow $165-185M. The company will cease Stickney, Illinois production by year-end and expects up to a $10M 2026 profit impact from higher oil prices.
AI-generated analysis. Not financial advice.
Positive
- Net income of $7.1M vs prior-year loss of $13.9M
- Operating cash flow of $46.3M and free cash flow of $34.9M
- Performance Chemicals sales +17.5% and adjusted EBITDA +28.4%
- 2026 guidance: adjusted EBITDA range of $240-260M and adjusted EPS $3.80-4.60
Negative
- Adjusted EBITDA declined 11.2% to $49.3M
- Carbon Materials and Chemicals adjusted EBITDA fell 90.9% to $0.9M
- Railroad and Utility sales down $15.0M (6.4%) versus prior year
- Company estimates up to a $10M 2026 profitability headwind from higher oil prices
Key Figures
Market Reality Check
Peers on Argus
Several specialty-chemical peers are down sharply (e.g., OEC -7.01%, KRO -9.96%, HDSN -7.02%, SCL -3.03%), while KOP was down 1.08% pre-earnings. The momentum scanner did not flag a coordinated sector move, pointing to a more company-specific setup into this report.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Nov 07 | Q3 2025 earnings | Positive | -4.1% | Q3 2025 sales down but earnings and EPS improved; guidance reiterated. |
| Aug 08 | Q2 2025 earnings | Negative | -13.3% | Q2 2025 sales and net income fell; 2025 outlook lowered for sales and EBITDA. |
| May 09 | Q1 2025 earnings | Neutral | +3.4% | Q1 2025 sales declined and loss reported, but adjusted EBITDA rose and outlook held. |
| Feb 27 | FY 2024 results | Negative | -9.4% | Q4 and 2024 sales declined with Q4 net loss; set 2025 growth targets. |
| Nov 08 | Q3 2024 earnings | Positive | -2.1% | Record Q3 2024 sales, higher adjusted EPS, and reaffirmed 2024 outlook. |
Past earnings releases often saw negative price reactions (average move -5.09%), including selloffs even on stronger quarters or reaffirmed outlooks.
Over the last five earnings-related announcements since Nov 2024, Koppers has reported periods of record sales, cost-cutting progress, and its multi-year Catalyst transformation, but also frequent sales declines and multiple outlook revisions. Price reactions skewed negative, with an average move of -5.09% and three clear selloffs despite some positive fundamentals. Today’s Q1 2026 update, with mixed segment performance and revised guidance, follows this pattern of complex earnings narratives driving uneven market responses.
Historical Comparison
Past 5 earnings-related releases averaged a -5.09% move, often skewing negative even when fundamentals or guidance appeared constructive. This Q1 2026 report, with mixed segment trends and revised guidance, fits that history of complex earnings messages driving cautious trading.
Earnings updates since late 2024 show declining or flat sales, restructuring and workforce reductions under the Catalyst program, and repeated guidance recalibrations, culminating in today’s Q1 2026 results and updated 2026 outlook.
Market Pulse Summary
This announcement delivers Q1 2026 results showing flat sales but a swing to GAAP profitability and much stronger operating and free cash flow, alongside lower adjusted EPS and adjusted EBITDA. Segment trends are mixed, with strong Performance Chemicals and weaker Carbon Materials and Chemicals. The updated 2026 outlook lowers adjusted EPS and EBITDA ranges while maintaining disciplined capital spending around $55M. Investors may track progress on cost actions, the Stickney plant closure, and demand trends across RUPS and PC through upcoming quarters.
Key Terms
adjusted ebitda financial
adjusted eps financial
non-gaap financial measure financial
gaap financial
free cash flow financial
phthalic anhydride technical
hedging program financial
effective tax rate financial
AI-generated analysis. Not financial advice.
- Sales of
$455.3 million $456.5 million - Net income (loss) of
$7.1 million $(13.9) million - Diluted EPS of
$0.35 $(0.68) - Adjusted EPS of
$0.57 $0.71 - Adjusted EBITDA of
$49.3 million $55.5 million - Capital expenditures, net of insurance proceeds and sale of assets, of
$11.4 million $10.0 million - Operating cash flow of
$46.3 million $(22.7) million - Free cash flow of
$34.9 million $(37.0) million
Three Months Ended March 31, | |||||||
(Dollars in millions, except per share amounts) | 2026 | 2025 | Change | % Change | |||
Net sales | $ 455.3 | $ 456.5 | $ (1.2) | (0.3) % | |||
Net income (loss) | $ 7.1 | $ (13.9) | $ 21.0 | 151.1 % | |||
Adjusted net income(1) | $ 11.4 | $ 14.6 | $ (3.2) | (21.9) % | |||
Diluted earnings per share (EPS) | $ 0.35 | $ (0.68) | $ 1.03 | 151.5 % | |||
Adjusted EPS(1) | $ 0.57 | $ 0.71 | $ (0.14) | (19.7) % | |||
Adjusted EBITDA(1) | $ 49.3 | $ 55.5 | $ (6.2) | (11.2) % | |||
(1) | Non-GAAP financial measure. See Non-GAAP Financial Measures for additional information and reconciliations to the most directly comparable financial measure determined and reported in accordance with |
Chief Executive Officer and Chair Leroy Ball said, "I'm happy to report that our consolidated first quarter results matched our expectations, while our cash generation picked up tremendous momentum. Performance Chemicals market share gains, combined with added benefits from our Catalyst transformation initiatives, partially offset a significant decline in Carbon Materials and Chemicals profitability, driven by persistent competitive pressures and higher raw material costs, including oil price spikes from the
First Quarter Financial Performance
Three Months Ended March 31, | |||||||
2026 | 2025 | Change | % Change | ||||
(Dollars in millions) | |||||||
Net sales: | |||||||
Railroad and Utility Products and Services | $ 220.0 | $ 235.0 | $ (15.0) | (6.4) % | |||
Performance Chemicals | 142.1 | 120.9 | 21.2 | 17.5 % | |||
Carbon Materials and Chemicals | 93.2 | 100.6 | (7.4) | (7.4) % | |||
Total | $ 455.3 | $ 456.5 | $ (1.2) | (0.3) % | |||
Adjusted EBITDA: | |||||||
Railroad and Utility Products and Services | $ 22.6 | $ 25.5 | $ (2.9) | (11.4) % | |||
Performance Chemicals | 25.8 | 20.1 | 5.7 | 28.4 % | |||
Carbon Materials and Chemicals | 0.9 | 9.9 | (9.0) | (90.9) % | |||
Total(1) | $ 49.3 | $ 55.5 | $ (6.2) | (11.2) % | |||
Adjusted EBITDA margin as a percentage of GAAP sales: | |||||||
Railroad and Utility Products and Services | 10.3 % | 10.9 % | (0.6) % | (5.5) % | |||
Performance Chemicals | 18.2 % | 16.6 % | 1.6 % | 9.6 % | |||
Carbon Materials and Chemicals | 1.0 % | 9.8 % | (8.8) % | (89.8) % | |||
(1) | Non-GAAP financial measure. See Non-GAAP Financial Measures for additional information and reconciliations to the most directly comparable financial measure determined and reported in accordance with |
- RUPS net sales decreased due to customer mix in Class I crossties, lower activity in maintenance-of-way businesses, including approximately
$9.6 million U.S. pole procurement business, and higher volumes in commercial crossties. Foreign currency changes had a favorable impact on sales in the current year period of$1.4 million - PC net sales increased primarily driven by a 15 percent increase in volumes along with higher sales prices primarily in the Americas. Foreign currency changes from international markets had a favorable impact on sales in the current year period of
$2.7 million $2.4 million - CMC net sales decreased mainly due to lower phthalic anhydride volumes of
$13.9 million $7.6 million
2026 Outlook
After considering the current competitive environment and global economic conditions, as well as the ongoing uncertainty associated with geopolitical and supply chain challenges, Koppers is updating its 2026 forecast as follows:
2026 Forecast | 2025 Actual | |||
Net sales | ||||
Adjusted EBITDA | ||||
Effective tax rate on adjusted net income | 28 percent | 29 percent | ||
Adjusted EPS | ||||
Operating cash flow | ||||
Capital expenditures |
Commenting on the 2026 forecast, Mr. Ball said, "Today's announcement of ceasing production at our
"We also expect higher operating cash flow and free cash flow than our previous guidance, as we deliver at the higher end of our inventory reduction targets. While we welcome end market improvement, the actions we have planned and already taken put us in position for a step change in profitability in 2027 while maintaining our already healthy cash generation."
Koppers does not provide reconciliations of guidance for adjusted EBITDA, free cash flow and adjusted EPS to comparable GAAP measures, in reliance on the unreasonable efforts exception. Koppers is unable, without unreasonable efforts, to forecast certain items required to develop meaningful comparable GAAP financial measures. These items include, but are not limited to, restructuring and impairment charges, acquisition-related costs, mark-to-market commodity hedging, and LIFO adjustments that are difficult to forecast for a GAAP estimate and may be significant. Forward-looking statements, including the guidance above, are based upon current expectations and are subject to factors that could cause actual results to differ materially from those set forth above. Please see the "Safe Harbor Statement" below for more information.
Investor Conference Call and Webcast
Koppers management will conduct a conference call this morning, beginning at 11:00 a.m. Eastern Time to discuss the company's results for the first quarter of 2026. Presentation materials will be available at least 15 minutes before the call on www.koppers.com in the Investor Relations section of the company's website.
Interested parties may access the live audio broadcast toll free by dialing 833-366-1128 in
An audio replay will be available approximately two hours after the completion of the call toll free at 855-669-9658 for the
About Koppers
Koppers (NYSE: KOP) is an integrated global provider of essential treated wood products, wood preservation technologies and carbon compounds. Our team of approximately 1,850 employees create, protect and preserve key elements of our global infrastructure – including railroad crossties, utility poles, outdoor wooden structures, and production feedstocks for steel, aluminum and construction materials, among others – applying decades of industry-leading expertise while constantly innovating to anticipate the needs of tomorrow. Together we are providing safe and sustainable solutions to enable rail transportation, keep power flowing, and create spaces of enjoyment for people everywhere. Protecting What Matters, Preserving The Future. Learn more at Koppers.com.
Inquiries from the media should be directed to Ms. Jessica Franklin Black at BlackJF@koppers.com or 412-227-2025. Inquiries from the investment community should be directed to Ms. Quynh McGuire at McGuireQT@koppers.com or 412-227-2049.
Non-GAAP Financial Measures
This press release contains certain non-GAAP financial measures. Koppers believes that adjusted EBITDA, adjusted net income, free cash flow and adjusted earnings per share provide information useful to investors in understanding the underlying operational performance of the company, its business and performance trends, and facilitates comparisons between periods. The exclusion of certain items permits evaluation and a comparison between periods of results for ongoing business operations, and it is on this basis that Koppers management internally assesses the company's performance. In addition, the Board of Directors and executive management team use adjusted EBITDA as a performance measure under the company's annual incentive plans and for certain performance share units granted to management prior to 2026. The Board of Directors and executive management also use free cash flow and adjusted earnings per share as performance measures for certain performance share units granted to management in 2026.
Although Koppers believes that these non-GAAP financial measures enhance investors' understanding of its business and performance, these non-GAAP financial measures should not be considered an alternative to GAAP basis financial measures and should be read in conjunction with the relevant GAAP financial measure. Other companies in a similar industry may define or calculate these measures differently than the company, limiting their usefulness as comparative measures. Because of these limitations, these non-GAAP financial measures should not be considered in isolation or as substitutes for performance measures calculated in accordance with GAAP.
See the attached tables for the following reconciliations of non-GAAP financial measures included in this press release: Unaudited Reconciliation of Net Income to Adjusted EBITDA, Unaudited Reconciliations of Net Income to Adjusted Net Income and Diluted Earnings Per Share and Adjusted Earnings Per Share and Unaudited Reconciliation of Net Cash Provided by (Used In) Operating Activities to Free Cash Flow.
Safe Harbor Statement
Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and may include, but are not limited to, statements about sales levels, acquisitions, restructuring, declines in the value of Koppers assets and the effect of any related impairment charges, profitability and anticipated expenses and cash outflows. All forward-looking statements involve risks and uncertainties.
All statements contained herein that are not clearly historical in nature are forward-looking, and words such as "outlook," "guidance," "forecast," "believe," "anticipate," "expect," "estimate," "may," "will," "should," "continue," "plan," "potential," "intend," "likely," or other similar words or phrases are generally intended to identify forward-looking statements. Any forward-looking statement contained herein, in other press releases, written statements or other documents filed with the Securities and Exchange Commission, regarding future dividends, expectations with respect to sales, earnings, cash flows, operating efficiencies, restructurings, cost reduction efforts, transformation initiatives, product introductions or expansions, the benefits of acquisitions, divestitures, joint ventures or other matters as well as financings and debt reduction, are subject to known and unknown risks, uncertainties and contingencies.
Many of these risks, uncertainties and contingencies are beyond our control, and may cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements. Factors that might affect such forward-looking statements include, among other things, availability of and fluctuations in the prices of key raw materials, including coal tar, lumber and scrap copper; the impact of changes in commodity prices, such as oil, copper and chemicals, on product margins; the successful implementation of multi-year cost mitigation programs; the extent of the dependence of certain of our businesses on certain market sectors and customers; economic, political and environmental conditions in international markets, including governmental changes, tariffs, restrictions on trade and restrictions on the ability to transfer capital across countries; geopolitical events (including the current war in the
KOPPERS HOLDINGS INC. CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS | |||
Three Months Ended | |||
2026 | 2025 | ||
(Dollars in millions, except share and per share amounts) | (Unaudited) | (Unaudited) | |
Net sales | $ 455.3 | $ 456.5 | |
Cost of sales | 368.7 | 350.7 | |
Depreciation and amortization | 19.4 | 18.0 | |
Selling, general and administrative | 41.7 | 41.1 | |
Impairment and restructuring | 7.8 | 20.0 | |
(Gain) on sale of assets | (4.3) | (0.3) | |
Operating profit | 22.0 | 27.0 | |
Other income, net | 0.9 | 1.4 | |
Interest expense | 15.0 | 16.6 | |
Loss on pension settlement | 0.0 | 29.0 | |
Income (loss) before income taxes | 7.9 | (17.2) | |
Income tax provision (benefit) | 0.8 | (3.3) | |
Net income (loss) | $ 7.1 | $ (13.9) | |
Earnings (loss) per common share: | |||
Basic | $ 0.36 | $ (0.68) | |
Diluted | $ 0.35 | $ (0.68) | |
Weighted average shares outstanding (in thousands): | |||
Basic | 19,552 | 20,369 | |
Diluted | 20,122 | 20,369 | |
KOPPERS HOLDINGS INC. CONDENSED CONSOLIDATED BALANCE SHEET | |||
March 31, 2026 | December 31, 2025 | ||
(Dollars in millions, except share and per share amounts) | (Unaudited) | ||
Assets | |||
Cash and cash equivalents | $ 42.8 | $ 38.0 | |
Accounts receivable, net of allowance of | 181.0 | 158.7 | |
Inventories, net | 395.9 | 411.2 | |
Derivative contracts | 26.2 | 31.5 | |
Other current assets | 23.0 | 29.3 | |
Total current assets | 668.9 | 668.7 | |
Property, plant and equipment, net of accumulated depreciation of | 645.7 | 650.9 | |
Goodwill | 329.4 | 329.4 | |
Intangible assets, net | 103.1 | 106.7 | |
Operating lease right-of-use assets | 102.5 | 102.9 | |
Deferred tax assets | 6.5 | 7.0 | |
Other assets | 24.2 | 21.2 | |
Total assets | $ 1,880.3 | $ 1,886.8 | |
Liabilities | |||
Accounts payable | $ 143.4 | $ 122.4 | |
Accrued liabilities | 70.1 | 72.6 | |
Current operating lease liabilities | 28.1 | 27.2 | |
Current maturities of long-term debt | 4.9 | 4.9 | |
Total current liabilities | 246.5 | 227.1 | |
Long-term debt | 915.3 | 914.3 | |
Operating lease liabilities | 74.6 | 76.1 | |
Accrued postretirement benefits | 13.1 | 13.7 | |
Deferred tax liabilities | 43.9 | 43.7 | |
Other long-term liabilities | 37.4 | 37.6 | |
Total liabilities | 1,330.8 | 1,312.5 | |
Commitments and contingent liabilities | |||
Equity | |||
Senior Convertible Preferred Stock, shares authorized; no shares issued | 0.0 | 0.0 | |
Common Stock, 26,789,723 and 26,213,052 shares issued | 0.3 | 0.3 | |
Additional paid-in capital | 336.4 | 332.4 | |
Retained earnings | 544.3 | 539.4 | |
Accumulated other comprehensive loss | (65.8) | (61.4) | |
Treasury stock, at cost, 7,560,355 and 6,757,247 shares | (265.7) | (236.7) | |
Total Koppers shareholders' equity | 549.5 | 574.0 | |
Noncontrolling interests | 0.0 | 0.3 | |
Total equity | 549.5 | 574.3 | |
Total liabilities and equity | $ 1,880.3 | $ 1,886.8 | |
KOPPERS HOLDINGS INC. CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS | |||
Three Months Ended March 31, | |||
2026 | 2025 | ||
(Dollars in millions) | (Unaudited) | (Unaudited) | |
Cash provided by (used in) operating activities: | |||
Net income (loss) | $ 7.1 | $ (13.9) | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 19.4 | 18.0 | |
Depreciation in impairment and restructuring | 0.0 | 12.2 | |
Stock-based compensation | 3.9 | 6.6 | |
Change in derivative contracts | 3.9 | (9.1) | |
Non-cash interest expense | 0.9 | 0.9 | |
(Gain) on sale of assets | (4.3) | (0.6) | |
Insurance proceeds | 0.0 | (2.2) | |
Deferred income taxes | 0.0 | 0.3 | |
Pension settlement | 0.0 | 29.0 | |
Change in other liabilities | (0.3) | 4.0 | |
Cloud-based software implementation costs, net of amortization | 0.1 | (0.9) | |
Other - net | 0.1 | (0.6) | |
Changes in working capital: | |||
Accounts receivable | (23.2) | (11.1) | |
Inventories | 17.8 | 4.0 | |
Accounts payable | 22.1 | (32.8) | |
Accrued liabilities | 1.1 | (24.3) | |
Other working capital | (2.3) | (2.2) | |
Net cash provided by (used in) operating activities | 46.3 | (22.7) | |
Cash (used in) provided by investing activities: | |||
Capital expenditures | (11.4) | (14.3) | |
Insurance proceeds | 0.0 | 2.2 | |
Sale of assets | 0.0 | 2.1 | |
Sale of business and divestitures | 0.5 | (7.6) | |
Other investing activities | 0.4 | 0.0 | |
Net cash used in investing activities | (10.5) | (17.6) | |
Cash provided by (used in) financing activities: | |||
Borrowings of credit facility | 166.8 | 144.4 | |
Repayments of credit facility | (165.5) | (94.1) | |
Repayments of long-term debt | (1.2) | (1.2) | |
Issuances of Common Stock | 0.1 | 0.3 | |
Repurchases of Common Stock | (29.0) | (19.1) | |
Dividends paid and return of capital to noncontrolling interests | (2.2) | (1.6) | |
Net cash (used in) provided by financing activities | (31.0) | 28.7 | |
Effect of exchange rate changes on cash | 0.0 | 1.0 | |
Net increase (decrease) in cash and cash equivalents | 4.8 | (10.6) | |
Cash and cash equivalents at beginning of period | 38.0 | 43.9 | |
Cash and cash equivalents at end of period | $ 42.8 | $ 33.3 | |
UNAUDITED SEGMENT INFORMATION | |||
Three Months Ended March 31, | |||
2026 | 2025 | ||
(Dollars in millions) | |||
Net sales: | |||
Railroad and Utility Products and Services | $ 220.0 | $ 235.0 | |
Performance Chemicals | 142.1 | 120.9 | |
Carbon Materials and Chemicals | 93.2 | 100.6 | |
Total | $ 455.3 | $ 456.5 | |
Adjusted EBITDA: | |||
Railroad and Utility Products and Services | $ 22.6 | $ 25.5 | |
Performance Chemicals | 25.8 | 20.1 | |
Carbon Materials and Chemicals | 0.9 | 9.9 | |
Total(1) | $ 49.3 | $ 55.5 | |
Adjusted EBITDA margin as a percentage of GAAP sales: | |||
Railroad and Utility Products and Services | 10.3 % | 10.9 % | |
Performance Chemicals | 18.2 % | 16.6 % | |
Carbon Materials and Chemicals | 1.0 % | 9.8 % | |
(1) | The table below describes the adjustments to arrive at adjusted EBITDA. |
UNAUDITED RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA | |||||
Three Months Ended | Year Ended December 31, | ||||
2026 | 2025 | 2025 | |||
(Dollars in millions) | |||||
Net income (loss) | $ 7.1 | $ (13.9) | $ 56.0 | ||
Interest expense | 15.0 | 16.6 | 66.1 | ||
Depreciation and amortization | 19.4 | 18.0 | 73.6 | ||
Income tax provision (benefit) | 0.8 | (3.3) | 25.2 | ||
Sub-total | 42.3 | 17.4 | 220.9 | ||
Adjustments to arrive at adjusted EBITDA: | |||||
Acquisition inventory step-up amortization | 0.3 | 0.0 | 0.0 | ||
Amortization of cloud-based software implementation costs | 0.5 | 0.3 | 1.2 | ||
(Gain) on sale of assets | (4.3) | (0.3) | (0.4) | ||
Impairment, restructuring and plant closure costs | 7.8 | 20.0 | 51.9 | ||
LIFO (benefit)(1) | (1.2) | (1.8) | (11.0) | ||
Mark-to-market commodity hedging losses (gains) | 3.9 | (9.1) | (34.2) | ||
Pension settlement and expense | 0.0 | 29.0 | 28.3 | ||
Total adjustments | 7.0 | 38.1 | 35.8 | ||
Adjusted EBITDA | $ 49.3 | $ 55.5 | $ 256.7 | ||
(1) | The LIFO expense adjustment removes the entire impact of LIFO and effectively reflects the results as if we were on a FIFO inventory basis. |
UNAUDITED RECONCILIATIONS OF NET INCOME TO ADJUSTED NET INCOME AND DILUTED EARNINGS PER SHARE AND ADJUSTED EARNINGS PER SHARE | |||||
Three Months Ended March 31, | Year Ended December 31, | ||||
2026 | 2025 | 2025 | |||
(Dollars in millions, except share and per share amounts) | |||||
Net income (loss) | $ 7.1 | $ (13.9) | $ 56.0 | ||
Adjustments to arrive at adjusted net income: | |||||
Acquisition inventory step-up amortization | 0.3 | 0.0 | 0.0 | ||
Amortization of cloud-based software implementation costs | 0.5 | 0.3 | 1.2 | ||
(Gain) on sale of assets | (4.3) | (0.3) | (0.4) | ||
Impairment, restructuring and plant closure costs | 7.8 | 20.0 | 51.9 | ||
LIFO (benefit)(1) | (1.2) | (1.8) | (11.0) | ||
Mark-to-market commodity hedging losses (gains) | 3.9 | (9.1) | (34.2) | ||
Pension settlement and expense | 0.0 | 29.0 | 28.3 | ||
Total adjustments | 7.0 | 38.1 | 35.8 | ||
Adjustments to income tax: | |||||
Income tax on adjustments to pre-tax income | (2.7) | (9.6) | (8.8) | ||
Effect on adjusted net income | 4.3 | 28.5 | 27.0 | ||
Adjusted net income | $ 11.4 | $ 14.6 | $ 83.0 | ||
Diluted weighted average common shares outstanding (in thousands) | 20,122 | 20,660 | 20,405 | ||
Diluted earnings per share | $ 0.35 | $ (0.68) | $ 2.74 | ||
Adjusted earnings per share | $ 0.57 | $ 0.71 | $ 4.07 | ||
(1) | The LIFO expense adjustment removes the entire impact of LIFO and effectively reflects the results as if we were on a FIFO inventory basis. |
UNAUDITED RECONCILIATION OF NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES TO FREE CASH FLOW | |||
Three Months Ended March 31, | |||
2026 | 2025 | ||
(Dollars in millions) | |||
Net cash provided by (used in) operating activities | $ 46.3 | $ (22.7) | |
Less: capital expenditures | (11.4) | (14.3) | |
Free cash flow | $ 34.9 | $ (37.0) | |
For Information:
Quynh McGuire
Vice President, Investor Relations
412 227 2049
McGuireQT@koppers.com
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SOURCE KOPPERS HOLDINGS INC.