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Sep 30, 2022
Koppers Q3 2022 Earnings Report
Koppers reported record sales and strong CMC adjusted EBITDA performance, overcoming headwinds from a stronger U.S. dollar and an increased effective tax rate.
Key Takeaways
Koppers Holdings Inc. reported a strong third quarter with record sales of $536.1 million, a 26.2% increase compared to the prior year. Net income attributable to Koppers was $19.1 million, or $0.91 per diluted share, compared to $10.2 million, or $0.47 per diluted share in the prior year. The company's performance was driven by record sales in the RUPS and PC segments, and strong sales and profitability in the CMC segment.
Koppers achieved record quarterly sales of $536.1 million, a 26.2% increase year-over-year.
Net income attributable to Koppers increased to $19.1 million, or $0.91 per diluted share.
The CMC business generated record quarterly results, driven by stronger pricing and operations improvements.
Koppers reaffirms its 2022 outlook for sales of approximately $2.0 billion and adjusted EBITDA of approximately $230 million.
Revenue by Segment
Forward Guidance
Koppers expects 2022 sales of approximately $2.0 billion and adjusted EBITDA of approximately $230 million. The 2022 adjusted EPS is forecasted to be approximately $4.00.
Positive Outlook
- Remain on track to finish this year with record sales and profitability
- On target to reach our $300 million adjusted EBITDA goal in 2025
- Continue to strengthen the competitive moat around our business
- The recent acquisition of crosstie supplier Gross & Janes
- Addition of DCOI to our product portfolio
Challenges Ahead
- Global economic conditions
- Ongoing uncertainty associated with geopolitical
- Supply chain challenges
- Effective tax rate for adjusted net income is projected to be approximately 35 percent
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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