KOP - Koppers November sales +1.8%; reaffirms FY20 outlook

Koppers ([[KOP]] -1.1%) reported November consolidated sales of $121.7M (+1.8% Y/Y); Segment Sales: RUPS $51.1M (-7.1% Y/Y); PC $41.9M (+28.9% Y/Y); and CMC $28.7M (-10.6% Y/Y).FY20 Outlook, reaffirmed: Expects Sales of $1.6B vs. $1.64B consensus; Adjusted EPS of $3.65 to $3.90 vs. $3.83 consensus; EBITDA to be in the range of $204M to $210MContinues to expect ~$125M of debt reduction in 2020; and net leverage to be between 3.5 and 3.6."Our fourth quarter is continuing to play out as expected.  Strong PC demand, driven by an extremely strong construction market, has outpaced market weakness in CMC and a seasonal slowdown in RUPS,” commented President and CEO Leroy Ball.

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Koppers November sales +1.8%; reaffirms FY20 outlook