Koppers Hldgs - KOP STOCK NEWS

Koppers Holdings Inc. (NYSE: KOP) reported a slight increase in consolidated sales to $121.7 million in November 2020, up 1.8% year-over-year. The increase was led by a strong demand for residential wood treatment chemicals, despite declines in Railroad and Utility Products and Carbon Materials. The company expects 2020 sales of approximately $1.6 billion and adjusted EBITDA between $204 million and $210 million. Koppers anticipates adjusted EPS in the range of $3.65 to $3.90. Capital expenditures for the month and year-to-date also rose significantly, signaling an investment in infrastructure and growth.

Koppers Performance Chemicals has announced plans to expand operations by purchasing an industrial land tract in Rock Hill, South Carolina. This expansion aims to enhance process efficiencies, increase production capacity, and create job opportunities in the local community. The facility produces wood treatment chemicals, offering protection against termite damage and decay. The investment aligns with the city's ongoing development, contributing to over $1 billion in investment and 6,000 jobs since 1984. This move underscores Koppers' commitment to both community development and environmental stewardship.

Koppers Holdings Inc. (NYSE: KOP) reported October 2020 sales of $135.2 million, down 4.1% from the prior year. Sales declines were driven by Carbon Materials and Chemicals, while Railroad and Utility Products and Services remained stable. Performance Chemicals saw an 11.4% increase due to strong demand for residential wood treatment.

The company expects 2020 sales of approximately $1.6 billion and adjusted EBITDA between $204 million and $210 million. Capital expenditures have increased, primarily for infrastructure and expansion projects, while debt reduction is anticipated at around $125 million for the year.

Koppers Holdings reported a strong third quarter, with net income of $75.6 million, up from $19.9 million last year. Adjusted EPS reached a record $1.64, reflecting solid performance despite the pandemic. Operating profit was $58.6 million, a record margin of 13.4%. Consolidated sales increased to $437.5 million, aided by foreign currency translation. While the Railroad and Utility Products segment faced challenges, the Performance Chemicals segment achieved record sales. Koppers anticipates adjusted EBITDA in 2020 of $204 million to $210 million and projects adjusted EPS of $3.65 to $3.90, indicating improved financial strength.

Koppers Holdings reported a strong third quarter, with net income of $75.6 million or $3.53 per diluted share, significantly up from $19.9 million or $0.94 in the same period last year. Record income from continuing operations reached $39.1 million, with adjusted net income at $35.1 million, leading to an adjusted EPS of $1.64. Consolidated sales increased slightly to $437.5 million, benefiting from a favorable foreign currency translation. However, the Railroad and Utility Products segment saw a 3.9% sales decline. Koppers expects 2020 sales around $1.6 billion and adjusted EBITDA of $204-$210 million, higher than previous forecasts.

Koppers Holdings Inc. (NYSE: KOP) has finalized the sale of Koppers (Jiangsu) Carbon Chemical Company to Fangda Carbon New Material Co., Ltd. for $107 million. The divestiture, effective September 30, 2020, resolves a contractual dispute with a key customer in China. Post-sale, Koppers anticipates a net cash inflow of approximately $65 million and a gain of $30-$35 million in Q3 2020. The transaction will reduce Koppers' net leverage from 4.5 to an estimated 3.8, enhancing financial stability and focusing on core wood treatment technologies.

Koppers (NYSE: KOP) announced that Leslie S. Hyde, Senior VP and Chief Sustainability Officer, received the 2020 STEP Ahead Award from The Manufacturing Institute, recognizing her leadership in the manufacturing industry. This year's virtual ceremony celebrates women who excel in their careers. Hyde, a Koppers employee since 1999, has significantly advanced the company's sustainability and environmental practices, achieving ISO14001 certification and publishing the first GRI-compliant Sustainability Report. Koppers, based in Pittsburgh, provides treated wood products and chemicals across various industries.

Koppers Holdings Inc. (NYSE: KOP) reported consolidated sales of $142.1 million for August 2020, a 2.5% decline from the previous year. The decrease was primarily due to lower contributions from Carbon Materials and Chemicals (CMC) and Railroad and Utility Products and Services (RUPS), although strong demand for Performance Chemicals (PC) increased sales by 8.4%. The company anticipates Q3 2020 sales between $420 million and $430 million, with adjusted EBITDA expected to reach $63 million to $66 million. Koppers is working on the divestiture of its subsidiary Koppers (Jiangsu) Carbon Chemical, aiming for a net cash realization of $65 million.

Koppers Holdings Inc. (NYSE: KOP) has amended its agreement to sell Koppers (Jiangsu) Carbon Chemical Company Limited, extending the closing deadline to September 30, 2020. The amendment includes a $10 million earnest payment received by Koppers and applies to a contractual dispute with KJCC's largest customer. Failure to close by the deadline may result in Koppers retaining the earnest money. The company anticipates realizing around $65 million in net cash from this transaction for debt reduction.