Welcome to our dedicated page for Koppers Hldgs news (Ticker: KOP), a resource for investors and traders seeking the latest updates and insights on Koppers Hldgs stock.
Koppers Holdings Inc. (NYSE: KOP) regularly issues news and updates as an integrated global provider of essential treated wood products, wood preservation technologies and carbon compounds. Company announcements highlight how its railroad crossties, utility poles, outdoor wooden structures and industrial feedstocks support rail transportation, power distribution and construction-related uses.
Investors following KOP news can expect recurring coverage of quarterly financial results, where Koppers reports on sales, net income, segment performance and non-GAAP measures such as adjusted EBITDA and adjusted earnings per share. These releases often include commentary on demand trends across its Railroad and Utility Products and Services, Performance Chemicals, and Carbon Materials and Chemicals segments, as well as updates on cost actions and portfolio changes.
News items also address corporate actions and governance developments. Recent communications have covered the declaration of quarterly cash dividends, participation in investor conferences, and changes in the Board of Directors, including the election of new directors. Executive leadership updates, such as the retirement of the Chief Financial Officer and the appointment of an interim Chief Financial Officer and Chief Accounting Officer, are disclosed through press releases and related filings.
In addition, Koppers uses its news releases to discuss its enterprise-wide Catalyst transformation process, workforce reduction programs and restructuring-related matters. For readers tracking KOP, this news page provides a centralized view of company-issued information on financial performance, strategic initiatives, capital allocation and leadership changes.
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.
Koppers Holdings, an integrated global provider of treated wood products, reported July 2020 sales of $147.4 million, down 2.6% from $151.3 million in July 2019. Key segments saw mixed results; Performance Chemicals rose 17.3%, but Carbon Materials and Chemicals fell 24.2%. The company is consolidating production by closing its Denver facility, investing $23 million to modernize its North Little Rock plant. Koppers expects 2020 sales around $1.6 billion and adjusted EBITDA of $190-$200 million. The diversification strategy has positioned Koppers well amid pandemic challenges.
Koppers Holdings (KOP) reported a record net income of $29.2 million, or $1.39 per diluted share, for Q2 2020, compared to $14.7 million, or $0.70 per share, a year earlier. Adjusted EBITDA reached $59.6 million (13.7% margin) despite a sales drop to $436.6 million, down 1.6% from $443.8 million in Q2 2019. The Railroad and Utility Products segment achieved record sales, while Performance Chemicals also saw strong growth. However, the Carbon Materials segment faced challenges due to lower demand and pricing, with sales declining 27.7%. Koppers is targeting a 2020 sales forecast of approximately $1.6 billion.
Koppers Holdings Inc. (NYSE: KOP) reported a record preliminary net income of $29.2 million, or $1.39 per diluted share, for Q2 2020, up from $14.7 million, or $0.70 per share, in the prior year. Adjusted net income reached $26.7 million, with adjusted EPS of $1.27. Consolidated sales totaled $436.6 million, down 1.6% year-over-year. Notably, the Railroad and Utility Products and Services segment posted record sales of $209.9 million. Koppers anticipates 2020 sales around $1.6 billion and aims to reduce debt by $120 million, contingent on the closing of the KJCC divestiture.
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