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Jun 30, 2021
Koppers Q2 2021 Earnings Report
Reported increased sales and profitability, driven by record sales in the PC business and strong performance in CMC.
Key Takeaways
Koppers Holdings Inc. reported net income attributable to Koppers for the second quarter of 2021 of $26.9 million, or $1.22 per diluted share, compared to $29.2 million, or $1.39 per diluted share, in the prior year quarter. Consolidated sales were $441.0 million, an increase of $4.4 million, or 1.0 percent, compared with $436.6 million in the prior year quarter.
Sales of $441.0 million vs. prior year of $436.6 million
Net income attributable to Koppers of $26.9 million vs. prior year of $29.2 million
Adjusted EBITDA of $65.6 million vs. prior year of $59.6 million
Diluted EPS of $1.22 vs. prior year of $1.39; Adjusted EPS of $1.41 vs. prior year of $1.27
Revenue by Segment
Forward Guidance
Koppers expects that 2021 sales will be approximately $1.7 billion to $1.8 billion. Koppers expects EBITDA, on an adjusted basis, will be approximately $220 million to $230 million for 2021. The 2021 adjusted EPS is forecasted to be in the range of $4.35 to $4.60.
Positive Outlook
- Expects to achieve seventh consecutive year of growth in adjusted EBITDA
- On pace for a new high in adjusted EPS.
- Several opportunities to grow our business
- Drive further efficiency gains
- Have a current goal of exceeding $300 million in adjusted EBITDA in 2025.
Challenges Ahead
- Second half of 2021 will be challenging due to inflationary pressures
- Volatility of lumber markets impacting the demand of various product segments
- 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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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