Koppers Hldgs Stock Price, News & Analysis

Koppers (NYSE: KOP) announced that Ashley Coup, Global Corporate Innovation Manager, has been honored as a member of Pittsburgh Magazine's 40 Under 40 Class of 2022. The award recognizes individuals under 40 for their contributions to the Pittsburgh community. Coup has significantly advanced Koppers' innovation initiatives, including the establishment of the Koppers Innovation Space and the iShare program, which encourages employee involvement in idea generation. The company will celebrate this achievement at Rivers Casino on November 18, 2022.

Koppers Holdings Inc. (NYSE: KOP) announced the acquisition of a 105-acre property in Leesville, Louisiana, for additional peeling and drying capacity in its wood treatment process. The facility aims to enhance operational efficiency by reducing costs through automation and improved logistics, with operations expected to begin in mid-2023. This move will strengthen Koppers' position in utility markets and decrease reliance on distant raw material sources. The acquisition is part of Koppers' strategy to integrate its assets in Texas and expand in key geographic markets.

Koppers Holdings Inc. (NYSE: KOP) reported a record sales quarter of $536.1 million for Q3 2022, up 26.2% from $424.8 million in the prior year. Net income increased to $19.1 million, or $0.91 per diluted share. Adjusted EBITDA rose to $68.8 million, representing 12.8% of sales. The company anticipates 2022 sales of approximately $2.0 billion and adjusted EBITDA of $230 million. A quarterly cash dividend of $0.05 per share was announced, payable on December 12, 2022.

Koppers Holdings Inc. (NYSE: KOP) has completed the acquisition of Gross & Janes Co., an independent supplier of untreated railroad crossties, headquartered in Kirkwood, Missouri. The acquisition enhances Koppers' vertically integrated business model, estimated to generate $50 million in annual sales from Gross & Janes. CEO Leroy Ball highlighted that the acquisition will improve supply chain security for customers and eliminate the need for capital expenses at certain Koppers sites. This strategic move aims to create immediate earnings accretion and leverage existing operational synergies.

Koppers Performance Chemicals has announced major market share expansions in industrial and commercial wood preservation, contributing to significant growth. This includes securing $40 million in annualized new business and increasing sales of fire-retardant products from $1 million in 2018 to $24 million currently. The company emphasizes a strategic realignment into three sales channels for better focus on market needs. Additionally, ongoing R&D investments aim to bolster their position in the market.

Koppers Holdings Inc. (NYSE: KOP), a global provider of treated wood products, announced plans to release its third-quarter 2022 financial results on November 4, 2022, before the market opens. A conference call discussing the results and outlook will take place at 11:00 a.m. Eastern Time the same day. Interested parties can access the live call at www.koppers.com or by dialing 833-366-1128 for U.S. participants. A replay will be available shortly after the call until February 4, 2023.

Koppers Holdings Inc. (NYSE: KOP) has signed an agreement to acquire substantially all assets of Gross & Janes Co., the largest independent supplier of untreated railroad crossties in North America. The acquisition is expected to close within 30 days, enhancing Koppers' supply chain and logistics capabilities. This strategic move aims to improve customer service, increase access to crossties for Koppers' treating facilities, and support its carbon-positive circular solution. Executives express optimism that this acquisition will benefit both customers and shareholders.

Koppers Recovery Resources LLC, a subsidiary of Koppers Holdings (NYSE: KOP), has secured a five-year, $50 million contract with a Class I railroad to manage end-of-life railroad crossties, effective until December 31, 2027. This initiative supports Koppers' sustainability goals by repurposing recovered materials, with some ties converted into biomass fuel. Koppers now services four out of six Class I railroads, aiming to enhance its market presence while pursuing circular economy solutions. The company targets $300 million in EBITDA by 2025.

Koppers Holdings Inc. (KOP) announced a quarterly net income of $11.7 million, or $0.55 per diluted share, down from $26.9 million in Q2 2021. Record sales of $502.5 million reflect a 14% increase from $441 million last year. Despite growth, adjusted EBITDA fell to $54.6 million, with significant raw material cost pressures. Koppers declared a quarterly dividend of $0.05 per share and announced a new $800 million credit facility to enhance financial flexibility. The 2022 outlook projects sales of $2.0 billion and adjusted EBITDA of $230 million, amid challenges from inflation and geopolitical issues.