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Koppers Holdings, Inc. (NYSE: KOP), headquartered in Pittsburgh, Pennsylvania, is a leading global provider of wood preservation technology. Specializing in creating safe and environmentally responsible solutions, Koppers addresses critical challenges across various industries. The company operates through three primary segments: Railroad and Utility Products and Services (RUPS), Performance Chemicals (PC), and Carbon Materials and Chemicals (CMC).
With a diversified product portfolio, Koppers offers treated and untreated wood products, wood treatment chemicals, and carbon compounds. Major products include treated wood crossties for railroads, wood preservation chemicals, and creosote for wood treatment. These products serve niche applications in markets such as railroad, aluminum and steel, agriculture, utilities, residential lumber, and construction.
Koppers' extensive global manufacturing and distribution network spans North America, South America, Australasia, China, and Europe, employing over 2,100 people worldwide. The company is committed to a zero-harm culture, prioritizing the safety of its employees, communities, and the environment. As a member of the American Chemistry Council, Koppers adheres to the Responsible Care® initiative, ensuring sustainable practices across its operations.
Financially, Koppers has shown resilient performance. In the fourth quarter of 2023, the company reported a net income of $12.9 million with consolidated sales rising by 6.3% to $513.2 million. The RUPS segment achieved record sales due to increased demand for crossties, while the PC segment benefited from global pricing initiatives and higher volumes. Despite challenges in the CMC segment, Koppers remains optimistic about future growth, projecting 2024 sales to reach approximately $2.25 billion.
Recent strategic initiatives include the acquisition of Brown Wood Preserving Company for $100 million, aimed at expanding Koppers' utility pole business. The company has also inaugurated a new facility in Leesville, Louisiana, enhancing its operational footprint and supply chain efficiencies. This facility supports Koppers' goal to meet rising infrastructure demands in the U.S.
Looking forward, Koppers aims to continue optimizing its business operations and pursuing both organic and inorganic growth opportunities. The company's commitment to innovation and sustainability positions it well for long-term success.
Koppers Holdings (NYSE: KOP) has announced a new $100 million share repurchase program, replacing its previous August 2021 program which had $11 million remaining. The decision stems from the company's improved free cash flow profile and completed 2025 strategic plan investments.
CFO Jimmi Sue Smith highlighted that with lower anticipated capital expenditures and higher free cash flow expected in 2025 and beyond, Koppers plans to focus on debt reduction and share repurchases. The company aims to maintain its leverage within a targeted range of 2-3 times net debt to adjusted EBITDA by end-2025.
The repurchase program has no termination date and can be suspended anytime, with implementation decisions based on market conditions, legal requirements, and business considerations.
Koppers Holdings Inc. (NYSE: KOP) reported its Q4 and full-year 2024 results with Q4 sales of $477.0 million, down 7.1% from $513.2 million in the prior year. The company posted a Q4 net loss of $10.2 million ($0.50 per share) compared to net income of $12.9 million ($0.59 per share) in Q4 2023.
Full-year 2024 sales decreased 2.9% to $2.09 billion from $2.15 billion in 2023. Adjusted EBITDA for 2024 was $261.6 million versus $256.4 million in 2023. Operating cash flows were $119.4 million compared to $146.1 million prior year.
For 2025, Koppers forecasts:
- Sales of approximately $2.17 billion
- Adjusted EBITDA of approximately $280 million
- Adjusted EPS of $4.75 per share
- Operating cash flow of approximately $150 million
- Capital expenditures of approximately $65 million
Koppers Holdings (NYSE: KOP) announced a 14% increase in its quarterly dividend from $0.07 to $0.08 per share for 2025. The dividend will be paid on March 24, 2025, to shareholders of record as of March 7, 2025. This adjustment raises the annual dividend rate to $0.32 per share.
CEO Leroy Ball stated that the increase reflects confidence in the company's strategies for sustainable, profitable growth while maintaining a balanced capital allocation approach. Future dividend declarations will remain subject to Board approval and various factors including financial position, operations results, cash flows, and capital requirements.
Koppers Holdings (NYSE: KOP), a global provider of treated wood products, wood treatment chemicals, and carbon compounds, has announced its upcoming fourth quarter and full-year 2024 financial results release schedule. The company will release results before market opening on Thursday, February 27, 2025, followed by a conference call at 11:00 a.m. Eastern Time.
Investors can access presentation materials on www.koppers.com's Investor Relations section 15 minutes before the call. The live audio broadcast can be accessed toll-free at 833-366-1128 (US/Canada) or 412-902-6774 (international) using Conference ID 10196723. The call will also be streamed live on the company's website.
An audio replay will be available approximately two hours after the call at 877-344-7529 (US), 855-669-9658 (Canada), or 412-317-0088 (international) using replay code 5314690, accessible through May 27, 2025.
Koppers Holdings (NYSE: KOP) has been recognized on Newsweek's America's Most Responsible Companies 2025 list for the fifth consecutive year, achieving its highest ranking at No. 113 out of 600 finalists and No. 9 among 56 Materials & Chemicals companies.
Key achievements include:
- 50% reduction in scope 1 and 2 greenhouse gas emissions vs 2007 baseline, seven years ahead of schedule
- Lowest Total Recordable Injury Rate (2.67) since 2018
- First U.S. company to introduce penflufen-based preservative technology
- Updated materiality assessment per 2021 GRI standards
- Published TCFD report
The recognition was based on environmental, social, and corporate governance metrics from 2,000 largest U.S. public companies, incorporating 30 key performance indicators and a survey of over 26,000 U.S. consumers.
Koppers Holdings Inc. (NYSE: KOP) has successfully completed the repricing of its seven-year $495 million senior secured Term Loan B (TLB) due April 10, 2030. The transaction reduces interest rate margins by 50 basis points, from 3.00% to 2.50%, with a floor of 50 bps at adjusted Term SOFR Rate or adjusted Daily Simple SOFR.
The company's CFO, Jimmi Sue Smith, highlighted that the strong market demand for their TLB enables them to reduce interest expenses while maintaining their existing leverage, covenants, and maturity date. Wells Fargo Bank serves as the administrative agent, with multiple financial institutions acting as joint lead arrangers and bookrunners.
Koppers Holdings (NYSE: KOP) has announced the election of Stephanie Apostolou as Chief Legal and Sustainability Officer and Secretary. In this expanded role, she will oversee the company's Legal, Sustainability, Zero Harm, Risk Management, and Strategic Planning functions.
Apostolou, who joined Koppers in 2011 as Corporate Counsel, has served in various roles including Deputy General Counsel and Assistant Secretary before becoming General Counsel and Secretary in 2020. Her new position includes supervising the continuation and expansion of Koppers' Sustainability program and Zero Harm safety culture, while maintaining responsibility for Legal functions and Board of Directors matters.
CEO Leroy Ball praised Apostolou's thirteen-year tenure at Koppers, highlighting her leadership growth and involvement in major company decisions over the past five years.
Koppers Holdings Inc. (NYSE: KOP) announced the retirement of two senior leaders. Leslie Hyde, Senior Vice President and Chief Sustainability Officer, will retire on March 31, 2025, and Joseph Dowd, Global Vice President Zero Harm, will retire on February 28, 2025. Both will serve as Assistant to the CEO for transition.
Hyde's 25-year career included establishing environmental programs, developing risk management systems, and becoming the company's first Chief Sustainability Officer in 2020. Dowd, who joined in 2012, implemented significant safety initiatives including the Zero Harm Leadership Forum, training workshops, and Life Saving Rules, leading to record safety performance in 2024.
Koppers Inc. (NYSE: KOP) announced plans to discontinue phthalic anhydride production at its Stickney, Illinois facility in 2025, affecting approximately 25 employees. The decision was driven by significant capital spending requirements that couldn't be justified by market projections. The closure will reduce certain regulated air contaminants by 50-70%.
The company expects pre-tax charges of $51-55 million through 2026, including $28 million in non-cash charges (2024-2025) and $23-27 million in cash expenditures for plant cleaning, waste disposal, and demolition. The shutdown won't affect Stickney's coal tar distillation operations. The closure aligns with Koppers' 2025 goals of $300 million adjusted EBITDA and $65-75 million capital expenditures.
Koppers Holdings (NYSE: KOP) announced its participation in the upcoming Singular Research Conference in San Francisco on December 12, 2024. The company will be represented by Bradley Pearce, Chief Accounting Officer, and Quynh McGuire, Vice President of Investor Relations, who will host meetings with the investment community. Presentation materials will be accessible on the company's website in the Investor Relations section.
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