KOP - Koppers Holdings reports preliminary Q4 sales above consensus

Koppers Holdings ([[KOP]] +1.2%) reports preliminary Q4 sales of 393.1M (+2.9% Y/Y) vs. consensus of $365.4M.Sales for RUPS -0.8% to $168.2M; Sales for PC +24.2% to $129.9M; Sales for CMC -12% to $95M. FY2020, Adjusted EBITDA to be ~$211M-$212M, exceeding recent forecast of $204M-$210M vs. $201.1M year ago and adjusted diluted EPS to be in the range of $4.10-$4.20, above the recent forecast of $3.65-$3.90 and consensus of $3.84. Net leverage is projected to be ~3.5 at December 31, 2020, vs. 4.3 year ago. President and CEO Leroy Ball said, "We are on track to: achieve a new high in profitability (post-KJCC); surpass the high end of our initial 2020 earnings target; exceed our original net debt reduction target of $120 million; and reduce our net leverage to 3.5, below our pre-pandemic 2020 goal of 3.6 to 3.8."Q4 results will be out on February 24.

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Koppers Holdings reports preliminary Q4 sales above consensus