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Jun 30, 2025
Koppers Q2 2025 Earnings Report
Reported Q2 2025 results with stable profitability despite lower sales, supported by cost savings and margin improvements in RUPS and CMC.
Key Takeaways
Koppers posted Q2 2025 revenue of $504.8M, down 10% year-over-year due to lower volumes across all segments. Net income was $16.4M and EPS $0.81, while adjusted EPS rose to $1.48. Adjusted EBITDA remained steady at $77.1M, with strong margin gains in Railroad and Utility Products and Services and Carbon Materials and Chemicals offsetting declines in Performance Chemicals.
Revenue fell 10.4% year-over-year to $504.8M, with declines across all business segments.
Net income of $16.4M, with adjusted EPS up 8.8% to $1.48 despite the sales drop.
Adjusted EBITDA margin improved significantly in RUPS and CMC segments.
Strong operating cash flow and lower capital expenditures helped reduce debt and return capital to shareholders.
Revenue by Segment
Forward Guidance
Koppers revised its 2025 outlook downward, now expecting revenue of $1.9–$2.0B and adjusted EBITDA of $250M–$270M, reflecting continued demand softness.
Positive Outlook
- Adjusted EBITDA margin expected to remain among highest in recent years.
- Operating cash flow projection maintained at $150M for the year.
- Capital spending target reduced to $52M–$58M, reflecting no near-term large project needs.
- Cost reduction initiatives from Catalyst transformation process driving sustainable efficiency gains.
- Focus on using H2 free cash flow to reduce borrowings.
Challenges Ahead
- Lower demand anticipated across most end markets in the second half of 2025.
- Full-year sales forecast reduced from $2.0B–$2.2B to $1.9B–$2.0B.
- Adjusted EBITDA outlook lowered from prior forecast.
- Adjusted EPS guidance reduced to $4.00–$4.60 from earlier expectations.
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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