Loading...
•
Mar 31, 2021
Koppers Q1 2021 Earnings Report
Reported record-first quarter results with strong profitability driven by performance chemicals wood-treatment business.
Key Takeaways
Koppers Holdings Inc. reported a record-first quarter with net income attributable to Koppers of $25.9 million, or $1.18 per diluted share, compared to a net loss of $1.4 million, or $0.07 per diluted share, in the prior year quarter. Consolidated sales were $407.5 million, an increase of $5.6 million, or 1.4 percent, compared with $401.9 million in the prior year quarter. The Performance Chemicals segment continued to see strong sales growth and increased profitability.
Sales of $407.5 million vs. prior year of $401.9 million
Operating Profit of $43.9 million vs. prior year of $13.6 million
Net Income Attributable to Koppers of $25.9 million vs. Prior Year Net Loss of $1.4 million
Adjusted EBITDA of $55.1 million vs. Prior Year of $37.6 million
Revenue by Segment
Forward Guidance
Koppers expects that 2021 sales will be approximately $1.7 billion to $1.8 billion and adjusted EBITDA will be approximately $220 million to $230 million. The 2021 adjusted EPS is forecasted to be in the range of $4.35 to $4.60.
Positive Outlook
- Strong first quarter performance
- Increased confidence in an extended home improvement wave
- 2021 should generate impressive year-over-year growth
- Investments being made this year should add to our successful track record of earnings growth
- Path that we believe will create more than $300 million in EBITDA by the end of 2025
Challenges Ahead
- Near-term economic uncertainty associated with the pandemic
- Higher 2021 tax rate is primarily due to benefits in the prior year related to the federal Coronavirus Aid, Relief, and Economic Security Act and other tax regulations that are not expected to continue in 2021.
- The higher tax rate anticipated in 2021 is estimated to have a negative impact on adjusted EPS of approximately $0.45 compared to the prior year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...