NYSE$KOP
Koppers Holdings Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported record sales and solid profitability driven by PC and RUPS businesses, while CMC business held its own in a tougher market environment.
Koppers Holdings Inc. reported a strong third quarter with record sales of $550.4 million, a 2.7% increase compared to the prior year. Diluted EPS increased to $1.22 from $0.91, and adjusted EPS rose to $1.32 from $1.19. The RUPS and PC segments delivered record sales and profitability, while the CMC segment experienced declines due to weaker market demand.
- Koppers achieved record third-quarter sales of $550.4 million, up 2.7% year-over-year.
- Diluted EPS increased to $1.22, compared to $0.91 in the prior year quarter.
- Adjusted EPS rose to $1.32, up from $1.19 in the prior year quarter.
- Record quarterly adjusted EBITDA was achieved in the PC and RUPS businesses.
Headline financials
Revenue & EPS history
Koppers · Revenue · Quarterly
$550M
Revenue by segment
Koppers · $550M total across 3 segments · Q3 2023
- Railroad & Utility Products$234M+12.7%42.5%
- Performance Chemicals$179M+17.2%32.6%
- Carbon Materials & Chemicals$137M-21.8%24.9%
Forward guidance
Koppers anticipates full-year 2023 sales of approximately $2.1 billion and adjusted EBITDA in the range of $253 million to $257 million. Adjusted EPS is forecasted to be in the range of $4.35 to $4.55 per share. Capital expenditures are expected to be approximately $110 million to $120 million.
Tailwinds
- Confident in finishing the year with adjusted EBITDA and adjusted EPS in the range of recently increased guidance.
- Expects to finish the year with some of the best annual results.
- Expects to be in the strongest financial condition since 2017.
- Expects to bring larger capital projects fully online in order to deliver $275 million of adjusted EBITDA in 2024.
- Anticipates normal seasonality in demand in most markets.
Headwinds
- Markets remain in short-term turmoil.
- Global economic conditions.
- Ongoing uncertainty associated with geopolitical challenges.
- Ongoing uncertainty associated with supply chain challenges.
- Normal seasonality in demand in most markets, except perhaps CMC, where markets remain in short-term turmoil.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
+0.1%
Avg return
Earnings day
+1.2%
Avg return
5 days after
+1.7%
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 | +7.0% | +3.7% | -1.0% | |
| 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 2009 | +6.3% | — | — | |
| Q3 2010 | +6.3% | — | — | |
| Q2 2009 | -7.8% | — | — | |
| Q4 2009 | -7.8% | — | — | |
| Q2 2010 | -7.8% | — | — |
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