Koppers Hldgs Stock Price, News & Analysis

Koppers Holdings Inc. (NYSE: KOP) announced that it will release its Q1 2023 financial results before the market opens on May 5, 2023, followed by a conference call at 11:00 a.m. ET. The call can be accessed by dialing 833-366-1128 (US/Canada) or 412-902-6774 (international), with a Conference ID of 10176990. Audio replay will be available approximately two hours after the call and can be accessed until August 5, 2023. Koppers is a global provider of treated wood products and carbon compounds, serving diverse end markets, including railroad and construction. For more information, please visit www.koppers.com.

Koppers Holdings Inc. (NYSE: KOP) awarded its annual Zero Harm President's Award to the Ashcroft facility in British Columbia for outstanding safety, environmental responsibility, and innovation performance.

In 2022, Ashcroft achieved zero property damage incidents and the highest number of employee-generated innovations. The facility supplies treated railroad crossties and related products to clients in Western Canada, the Pacific Northwest, and Alaska.

CEO Leroy Ball emphasized the team's collaborative effort in achieving these results. The facility received a $5,000 donation for a local food bank as part of its recognition. Koppers remains committed to promoting a Zero Harm culture, which has led to improved safety metrics, including reduced Total Recordable Rate and Days Away Restricted or Transferred Rate.

Koppers Holdings Inc. (NYSE: KOP) announced the successful closing of a $400 million senior secured Term Loan B (TLB) with a 7-year term. The loan, which carries an interest rate at the company's option of adjusted Term SOFR plus 4.00%, will be used primarily to redeem $500 million of 6.00% Senior Unsecured Notes due in 2025. CFO Jimmi Sue Smith emphasized that this refinancing enhances the company's balance sheet flexibility and risk management by extending the maturity of its debt profile. The company plans to implement hedging strategies to balance its interest rate exposure. Wells Fargo is the administrative agent for the TLB, with several banks acting as joint lead arrangers.

Koppers Holdings Inc. (NYSE: KOP) announced the publication of its 2022 Annual Report and Letter to Shareholders on April 4, 2023. The report, containing audited financial statements for the fiscal year ending December 31, 2022, was filed with the U.S. Securities and Exchange Commission on April 3, 2023. Investors can access the report via the Investor Relations section of the Koppers website or on the SEC's website. Koppers is a global provider of treated wood products, wood treatment chemicals, and carbon compounds, serving multiple industries through a vast manufacturing and distribution network.

Koppers Holdings Inc. (NYSE: KOP) has expanded its Board of Directors from eight to nine members, appointing Andrew D. Sandifer as the newest director, effective March 20, 2023. Sandifer, who is the Executive Vice President and CFO at FMC Corporation, brings extensive financial expertise and international business experience, particularly in technology-driven product sectors. Chairman Stephen Tritch expressed confidence in Sandifer's ability to contribute valuable insights to board discussions. President and CEO Leroy Ball highlighted Sandifer's strong financial acumen, noting its importance in navigating a complex regulatory landscape.

Koppers Holdings Inc. (NYSE: KOP) has successfully priced a 7-year $400 million senior secured Term Loan B (TLB), with an interest rate of adjusted Term SOFR plus 4.00%. The proceeds will be utilized to redeem $500 million of outstanding 6.00% Senior Unsecured Notes due in 2025, enhancing the company's balance sheet flexibility. CFO Jimmi Sue Smith emphasized that this move extends Koppers' debt maturity profile, reducing financial risk. The transaction is expected to close in mid-April 2023, aligning with the redemption of the 2025 Notes, supported by Wells Fargo Bank and other leading financial institutions.