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Jun 30, 2022
Koppers Q2 2022 Earnings Report
Koppers reported second quarter results, declared quarterly dividend, and reaffirmed 2022 outlook.
Key Takeaways
Koppers Holdings Inc. reported a record quarter with sales of $502.5 million, a 14.0% increase compared to the prior year quarter. Net income attributable to Koppers was $11.7 million, or $0.55 per diluted share, compared to $26.9 million, or $1.22 per diluted share, in the prior year quarter. Adjusted EPS was $0.97 compared to $1.41 in the prior year quarter.
Record quarter sales of $502.5 million vs. $441.0 million in prior year quarter.
Net income attributable to Koppers was $11.7 million, or $0.55 per diluted share, compared to $26.9 million, or $1.22 per diluted share, in the prior year quarter.
Adjusted net income attributable to Koppers and adjusted earnings per share (EPS) were $20.5 million and $0.97 per share for the second quarter of 2022, compared to $30.9 million and $1.41 per share in the prior year quarter, respectively.
New $800 million credit facility provides additional financial flexibility.
Revenue by Segment
Forward Guidance
Koppers expects 2022 sales of approximately $2.0 billion, compared with $1.68 billion in the prior year, and adjusted EBITDA of approximately $230 million for 2022, compared with $223.5 million in the prior year. Accordingly, the 2022 adjusted EPS is forecasted to be approximately $4.10, compared with adjusted EPS of $4.21 in the prior year. Koppers expects capital expenditures of approximately $95 million in 2022.
Positive Outlook
- Extremely strong second half of 2022 that should carry into next year.
- Crosstie procurement in our Railroad Products and Services business is now tracking on a pace well above last year
- Demand and pricing in our Utility and Industrial Products business have never been stronger.
- Favorable near-term backdrop for pricing and demand in our Carbon Materials and Chemicals segment
- Solid backlog of projects that underpins Performance Chemicals demand
Challenges Ahead
- Global economic conditions
- Ongoing uncertainty associated with geopolitical
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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