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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 completed its new utility pole peeling and drying facility in Leesville, Louisiana. The $17 million investment spans 105 acres and has created over 35 construction and full-time positions. The facility processes timber into utility poles, which are subsequently treated at Koppers' Somerville, Texas location. This expansion aims to serve the underserved markets in Texas and the Midwest. The automated plant is expected to reduce costs and optimize Koppers' logistics network. The facility's strategic location leverages Leesville's timber resources and proximity to Somerville, enhancing supply chain efficiency and market reach.
Koppers Holdings announced upcoming meetings with the investment community. The meetings will take place in New York City on May 29, 2024, and in Boston on May 30, 2024. CEO Leroy Ball and VP of Investor Relations Quynh McGuire will represent Koppers. Presentation materials will be available on the company's website.
Koppers Holdings (NYSE: KOP) announced participation in two upcoming investor conferences. The company will attend the Singular Research Spring Select Webinar virtually on May 22, 2024, represented by Bradley Pearce, Chief Accounting Officer, and Quynh McGuire, VP of Investor Relations. Additionally, Koppers will participate in the B. Riley Securities Institutional Investor Conference in Beverly Hills, California, on May 23, 2024. This event will feature Jimmi Sue Smith, CFO, and Quynh McGuire, VP of Investor Relations. Presentation materials will be accessible on the company's website under the Investor Relations section.
Koppers Holdings (NYSE: KOP) announced its participation in the Barrington Research Spring Investment Conference, scheduled for May 16, 2024. The event will be held virtually, and Koppers will host meetings with the investment community. Representing Koppers will be Jimmi Sue Smith, CFO, and Quynh McGuire, VP of Investor Relations. Presentation materials will be accessible on the company's Investor Relations webpage.
Koppers Holdings Inc. reported First Quarter 2024 Results showing a net income of $13.0 million, or $0.59 per diluted share, a decrease from the prior year. Adjusted EPS was $0.62, a decline from $1.12 in the prior year. Consolidated net sales decreased by 3.1% to $497.6 million. The Railroad and Utility Products and Services business performed well, while the Performance Chemicals segment saw growth. However, the Carbon Materials and Chemicals segment experienced reduced market demand. The outlook for 2024 projects sales of $2.25 billion and adjusted EPS of $4.10 to $4.60 per share.
Koppers Holdings Inc. reported first quarter 2024 results, with a decline in net income, sales, and adjusted EPS compared to the prior year quarter. The Railroad and Utility Products and Services segment showed growth, while the Performance Chemicals segment performed well. However, the Carbon Materials and Chemicals segment experienced reduced market demand. The company provided an updated outlook for 2024, expecting sales of approximately $2.25 billion and adjusted EBITDA of $265-280 million.
Koppers Holdings Inc. (NYSE: KOP) declared a quarterly cash dividend of $0.07 per share of common stock, payable on June 10, 2024, to shareholders of record as of May 24, 2024. The company expects to continue paying regular dividends, subject to Board approval and financial performance.
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