KOP - Koppers Holdings reports mixed Q4 earnings; initiates FY23 outlook

February, 27 2023 08:05 AM Koppers Holdings Inc.

Koppers Holdings press release ( NYSE: KOP ): Q4 Non-GAAP EPS of $1.09 beats by $0.17 .
Revenue of $482.6M (+19.1% Y/Y) misses by $20.65M .
Total adjusted EBITDA was $52.1M, or 10.8 percent, compared with $48.8M, or 12.0 percent, in the prior year quarter.
2023 Outlook: Koppers expects 2023 sales of approximately $2.1 billion vs $2.04B consensus, compared with $1.98 billion in the prior year, and 2023 adjusted EBITDA of approximately $250 million, compared with $228.1 million in the prior year.
The effective tax rate for adjusted net income attributable to Koppers in 2023 is projected to be approximately 31 percent, which is consistent with the adjusted tax rate in 2022.
Accordingly, the 2023 adjusted EPS is forecasted to be approximately $4.40, compared with adjusted EPS of $4.14 in 2022 vs $4.56 consensus.
Koppers expects capital expenditures of approximately $105 million in 2023 with $40 million of the total allocated to discretionary projects that are expected to generate returns on investment of over 20 percent.

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