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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 (NYSE: KOP) announced recognition of two of its female leaders by The Manufacturing Institute with 2022 STEP Ahead Awards. Min Kuang, Senior Research Scientist, is honored for significant contributions to manufacturing, while Amber Leech, Customer Support Specialist, is recognized as an Emerging Leader. The awards ceremony is set for April. This initiative highlights Koppers' commitment to enhancing diversity in the workforce, especially in manufacturing, amid a growing talent shortage. The company actively seeks to attract and support women in its operations.
Koppers Holdings reported a net income of $22.2 million ($1.02 per share) in Q4 2021, up from $18.6 million ($0.86 per share) YoY. Consolidated sales rose 3.1% to $405.3 million. The Carbon Materials and Chemicals segment saw a significant increase in sales, rising 37.7% to $130.8 million, with record profitability. Conversely, sales in the Railroad and Utility Products fell 7.5% due to deferred purchases. For 2022, Koppers aims for sales of $1.8 billion and adjusted EBITDA of $230 million, amid rising tax rates expected to impact EPS.
Koppers Holdings Inc. (NYSE: KOP) has reinstated its quarterly cash dividend, declaring its first payment since November 2014. Shareholders will receive $0.05 per share on April 4, 2022, for those on record as of March 18, 2022. The company's leadership emphasizes this move as a reflection of their strong operational cash flow and strategic growth plans. Koppers will continue to evaluate future dividends based on financial health and market conditions, aiming for a balanced capital allocation strategy that benefits shareholders.
Koppers Holdings Inc. (NYSE: KOP) announced two leadership appointments effective March 1, 2022. Tracie McCormick, previously Assistant Treasurer, is now Treasurer, overseeing global treasury operations and corporate liquidity. Daniel Skrovanek, Ph.D., has been appointed Vice President of Growth and Innovation, tasked with exploring new growth channels. These changes aim to enhance Koppers' capital allocation strategies and drive innovation. CEO Leroy M. Ball welcomed the leaders, emphasizing their experience and fresh perspectives that align with the company's long-term growth goals.
Koppers Holdings Inc. (NYSE: KOP) plans to release its financial results for Q4 and full-year 2021 on February 23, 2022, before market open. A conference call will follow at 11:00 a.m. ET to discuss these results and the company's outlook. Presentation materials will be available on their website prior to the call. Interested parties can join the call by dialing specific numbers for the U.S., Canada, and international participants. An audio replay will be accessible after the call, lasting until May 23, 2022.
Koppers Holdings Inc. (NYSE: KOP) reported third-quarter 2021 net income of $10.2 million ($0.47 per diluted share), down from $75.6 million ($3.53 per share) a year earlier. Adjusted net income was $22.0 million, compared to $35.1 million in Q3 2020. Consolidated sales decreased by 2.9% to $424.8 million. The Railroad and Utility Products and Services segment faced challenges from hardwood shortages, while the Performance Chemicals segment saw lower demand. In contrast, the Carbon Materials and Chemicals segment performed well, benefiting from favorable prices. Koppers anticipates $1.7 billion in sales for 2021.
Koppers Holdings Inc. (NYSE: KOP), based in Pittsburgh, plans to release its third-quarter 2021 financial results before the market opens on November 4, 2021. The company will hold a conference call at 11:00 a.m. Eastern Time to discuss its outlook. Interested participants can join the call by dialing 1-833-366-1128 (U.S./Canada) or 1-412-902-6774 (international) using Conference ID 10161343. The call will also be live streamed on the company's website, with a replay available afterwards until February 3, 2022.
Koppers Inc., a subsidiary of Koppers Holdings, announced the sale of its 60-acre facility in Denver, Colorado, to affiliates of Hines and EnviroFinance Group. This move is part of a network optimization strategy, transitioning operations to another facility. The sale is expected to generate estimated cash proceeds of $30 million, contributing to projected net capital expenditures of $80-$90 million for 2021. Executives expressed confidence in the transaction's role in enhancing market presence and operational efficiency.
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