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Sep 30, 2023
Koppers Q3 2023 Earnings Report
Reported record sales and solid profitability driven by PC and RUPS businesses, while CMC business held its own in a tougher market environment.
Key Takeaways
Koppers Holdings Inc. reported a strong third quarter with record sales of $550.4 million, a 2.7% increase compared to the prior year. Diluted EPS increased to $1.22 from $0.91, and adjusted EPS rose to $1.32 from $1.19. The RUPS and PC segments delivered record sales and profitability, while the CMC segment experienced declines due to weaker market demand.
Koppers achieved record third-quarter sales of $550.4 million, up 2.7% year-over-year.
Diluted EPS increased to $1.22, compared to $0.91 in the prior year quarter.
Adjusted EPS rose to $1.32, up from $1.19 in the prior year quarter.
Record quarterly adjusted EBITDA was achieved in the PC and RUPS businesses.
Revenue by Segment
Forward Guidance
Koppers anticipates full-year 2023 sales of approximately $2.1 billion and adjusted EBITDA in the range of $253 million to $257 million. Adjusted EPS is forecasted to be in the range of $4.35 to $4.55 per share. Capital expenditures are expected to be approximately $110 million to $120 million.
Positive Outlook
- Confident in finishing the year with adjusted EBITDA and adjusted EPS in the range of recently increased guidance.
- Expects to finish the year with some of the best annual results.
- Expects to be in the strongest financial condition since 2017.
- Expects to bring larger capital projects fully online in order to deliver $275 million of adjusted EBITDA in 2024.
- Anticipates normal seasonality in demand in most markets.
Challenges Ahead
- Markets remain in short-term turmoil.
- Global economic conditions.
- Ongoing uncertainty associated with geopolitical challenges.
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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