NYSE$KOP
Koppers Holdings Inc · Q2 2022 earnings
Q2 2022 earnings · · Investor relations
Briefing
Koppers reported second quarter results, declared quarterly dividend, and reaffirmed 2022 outlook.
Koppers Holdings Inc. reported a record quarter with sales of $502.5 million, a 14.0% increase compared to the prior year quarter. Net income attributable to Koppers was $11.7 million, or $0.55 per diluted share, compared to $26.9 million, or $1.22 per diluted share, in the prior year quarter. Adjusted EPS was $0.97 compared to $1.41 in the prior year quarter.
- Record quarter sales of $502.5 million vs. $441.0 million in prior year quarter.
- Net income attributable to Koppers was $11.7 million, or $0.55 per diluted share, compared to $26.9 million, or $1.22 per diluted share, in the prior year quarter.
- Adjusted net income attributable to Koppers and adjusted earnings per share (EPS) were $20.5 million and $0.97 per share for the second quarter of 2022, compared to $30.9 million and $1.41 per share in the prior year quarter, respectively.
- New $800 million credit facility provides additional financial flexibility.
Headline financials
Revenue & EPS history
Koppers · Revenue · Quarterly
$503M
Revenue by segment
Koppers · $503M total across 3 segments · Q2 2022
- Railroad & Utility Products$204M+4.5%40.6%
- Performance Chemicals$150M+2.7%29.8%
- Carbon Materials & Chemicals$149M+48.8%29.6%
Forward guidance
Koppers expects 2022 sales of approximately $2.0 billion, compared with $1.68 billion in the prior year, and adjusted EBITDA of approximately $230 million for 2022, compared with $223.5 million in the prior year. Accordingly, the 2022 adjusted EPS is forecasted to be approximately $4.10, compared with adjusted EPS of $4.21 in the prior year. Koppers expects capital expenditures of approximately $95 million in 2022.
Tailwinds
- Extremely strong second half of 2022 that should carry into next year.
- Crosstie procurement in our Railroad Products and Services business is now tracking on a pace well above last year
- Demand and pricing in our Utility and Industrial Products business have never been stronger.
- Favorable near-term backdrop for pricing and demand in our Carbon Materials and Chemicals segment
- Solid backlog of projects that underpins Performance Chemicals demand
Headwinds
- Global economic conditions
- Ongoing uncertainty associated with geopolitical
- Supply chain challenges
- Effective tax rate for adjusted net income in 2022 is projected to be approximately 33 percent, compared to the tax rate in 2021, excluding certain income tax effects relating to non-recurring items, of 27 percent.
- Higher 2022 tax rate is primarily due to higher anticipated interest expense deduction disallowances and the mix of income from domestic and foreign subsidiaries.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2022
+0.1%
Avg return
Earnings day
+1.2%
Avg return
5 days after
+1.8%
Avg return
30 days after
44%
30 / 68 earnings
Positive
+26.3%
Q3 2019
Best reaction
-30.0%
Q3 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +6.9% | +3.6% | — | |
| Q4 2025 | +7.6% | +6.4% | +9.8% | |
| Q3 2025 | -4.0% | +2.6% | +0.6% | |
| Q1 2025 | +3.5% | +16.4% | +23.1% | |
| Q4 2024 | -9.4% | -13.5% | -13.6% | |
| Q3 2024 | -0.7% | -0.3% | -5.4% | |
| Q2 2024 | -1.0% | +4.1% | +3.7% | |
| Q1 2024 | -18.5% | -15.7% | -16.2% | |
| Q4 2023 | +6.8% | +0.0% | +4.1% | |
| Q3 2023 | -0.2% | +2.2% | +20.8% | |
| Q2 2023 | +2.5% | +2.2% | +5.3% | |
| Q1 2023 | +3.4% | +1.4% | +1.0% | |
| Q4 2022 | +4.5% | +9.3% | -0.5% | |
| Q3 2022 | +17.1% | +10.8% | +26.2% | |
| Q2 2022 | -1.7% | +0.8% | -6.6% | |
| Q1 2022 | -3.7% | -4.9% | +10.2% | |
| Q4 2021 | +3.5% | +4.3% | +3.0% | |
| Q3 2021 | -9.7% | -10.1% | -16.5% | |
| Q2 2021 | +0.8% | +6.2% | +10.0% | |
| Q1 2021 | +3.4% | -4.1% | -4.2% | |
| Q4 2020 | -6.9% | -5.9% | -4.9% | |
| Q3 2020 | +1.0% | +1.7% | +20.4% | |
| Q2 2020 | +2.4% | +3.9% | -7.8% | |
| Q1 2020 | +24.5% | +7.3% | +70.4% | |
| Q4 2019 | -7.3% | -16.9% | -68.0% | |
| Q3 2019 | +26.3% | +22.2% | +7.5% | |
| Q2 2019 | +16.7% | +21.2% | +11.6% | |
| Q1 2019 | +8.7% | +11.3% | -0.1% | |
| Q4 2018 | +8.0% | +8.3% | +5.7% | |
| Q3 2018 | -30.0% | -23.9% | -36.8% | |
| Q2 2018 | -7.1% | -7.5% | -9.2% | |
| Q1 2018 | -8.1% | -11.2% | -7.3% | |
| Q4 2017 | -2.7% | +0.2% | -1.0% | |
| Q3 2017 | +1.9% | +0.5% | +4.0% | |
| Q2 2017 | +10.5% | +8.5% | +12.6% | |
| Q1 2017 | -4.3% | -4.3% | -12.4% | |
| Q4 2016 | -2.3% | +0.5% | -5.4% | |
| Q3 2016 | -1.7% | +2.0% | +23.3% | |
| Q2 2016 | +8.7% | +7.7% | +10.1% | |
| Q1 2016 | +2.5% | — | — | |
| Q4 2015 | +6.3% | — | — | |
| Q3 2015 | +12.8% | — | — | |
| Q2 2015 | +8.8% | — | — | |
| Q1 2015 | +16.0% | — | — | |
| Q4 2014 | -13.5% | — | — | |
| Q3 2014 | -13.7% | — | — | |
| Q2 2014 | -6.2% | — | — | |
| Q1 2014 | -14.3% | — | — | |
| Q4 2013 | -1.5% | — | — | |
| Q3 2013 | +14.0% | — | — | |
| Q2 2013 | -1.3% | — | — | |
| Q1 2013 | -2.2% | — | — | |
| Q4 2012 | -3.2% | — | — | |
| Q3 2012 | -4.9% | — | — | |
| Q2 2012 | -9.2% | — | — | |
| Q1 2012 | -1.4% | — | — | |
| Q4 2011 | -0.6% | — | — | |
| Q1 2010 | -0.6% | — | — | |
| Q3 2011 | -0.5% | — | — | |
| Q2 2011 | -6.2% | — | — | |
| Q1 2011 | +2.7% | — | — | |
| Q4 2008 | -6.7% | — | — | |
| Q4 2010 | -6.7% | — | — | |
| Q3 2010 | +6.3% | — | — | |
| Q3 2009 | +6.3% | — | — | |
| Q2 2010 | -7.8% | — | — | |
| Q2 2009 | -7.8% | — | — | |
| Q4 2009 | -7.8% | — | — |
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