KOP - Koppers Holdings raises FY20 EBITDA and EPS guidance

For 2020, Koppers Holdings ([[KOP]] +1.8%) expects sales to be ~$1.6B vs. $1.65B in 2019.Adj. EBITDA is seen in the range of $204 to $210M, higher than its earlier forecast of $196 to $204M, vs. $201.1M in the prior year.  Adj. EPS is projected to be in the range of $3.65 to $3.90 in 2020, higher than its previous estimate of $3.25 to $3.50, vs. $3.18 in the prior year.The company anticipates investments of $55 to $60M in capital expenditures related to improving the safety and reliability of its existing infrastructure.Koppers plans to reduce debt by ~$125M, which includes proceeds that were received from the KJCC divestiture.Based on current adj. EBITDA and debt reduction estimates, net leverage at December 31, 2020, is projected to be between 3.5 and 3.6.

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Koppers Holdings raises FY20 EBITDA and EPS guidance