NYSE$KOP
Koppers Holdings Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Koppers reported record quarter sales and increased profitability in RUPS, driven by pricing and volume improvements, while PC sales hit a record but profitability was impacted by higher raw material costs; CMC sales remained strong due to favorable pricing.
Koppers Holdings Inc. reported a net income of $13.8 million, or $0.65 per diluted share, for Q4 2022, compared to $22.2 million, or $1.01 per diluted share, in the prior year quarter. Adjusted net income was $23.0 million, or $1.09 per share, compared to $16.9 million, or $0.77 per share, in the prior year quarter. Consolidated sales reached a quarterly record of $482.6 million, up 19.1% from the prior year.
- Koppers reported record quarter sales of $482.6 million, up from $405.3 million in the prior year quarter.
- Net income attributable to Koppers was $13.8 million, or $0.65 per diluted share, compared to $22.2 million, or $1.01 per diluted share, in the prior year quarter.
- Adjusted net income attributable to Koppers was $23.0 million, or $1.09 per share, compared to $16.9 million, or $0.77 per share, in the prior year quarter.
- The Railroad and Utility Products and Services (RUPS) business achieved record fourth-quarter sales and higher year-over-year profitability.
Headline financials
Revenue & EPS history
Koppers · Revenue · Quarterly
$483M
Revenue by segment
Koppers · $483M total across 3 segments · Q4 2022
- Railroad & Utility Products$193M+24.0%40.0%
- Carbon Materials & Chemicals$149M+13.8%30.8%
- Performance Chemicals$141M+18.4%29.2%
Forward guidance
Koppers expects 2023 sales of approximately $2.1 billion and adjusted EBITDA of approximately $250 million. The 2023 adjusted EPS is forecasted to be approximately $4.40.
Tailwinds
- Largest year-over-year leap in profitability since 2015 is expected.
- Pricing in PC business is expected to recapture remaining cost increases.
- RUPS is expected to take another step forward as larger multi-year projects complete.
- Cost expected to be taken out of the organization through greater efficiency in RUPS.
- Focused on reaching 2025 goal of $300 million in adjusted EBITDA.
Headwinds
- Ongoing uncertainty associated with geopolitical and supply chain challenges.
- CMC will see some natural margin compression as market dynamics intensify on both the supply and demand side.
- Global economic conditions
- Effective tax rate for adjusted net income attributable to Koppers in 2023 is projected to be approximately 31 percent.
- Expect capital expenditures of approximately $105 million in 2023
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 Q4 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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