Koppers Holdings Inc. reported a strong fourth quarter with record sales of $513.2 million, driven by the RUPS and PC segments, while the CMC segment faced challenges due to lower market prices and weaker demand. The company's net income attributable to Koppers was $12.9 million, or $0.59 per diluted share.
Record fourth-quarter sales of $513.2 million, up from $482.6 million in the prior year quarter.
Net income attributable to Koppers was $12.9 million, or $0.59 per diluted share, compared to $13.8 million, or $0.65 per diluted share, in the prior year quarter.
Adjusted EBITDA for the fourth quarter of 2023 was $53.9 million, compared with $52.1 million in the prior year quarter.
The Railroad and Utility Products and Services (RUPS) business delivered record fourth-quarter sales and adjusted EBITDA.
Koppers expects 2024 sales of approximately $2.25 billion and adjusted EBITDA of approximately $275 million. Adjusted EPS is forecasted to be in the range of $4.60 to $4.80 per share.
Analyze how earnings announcements historically affect stock price performance