Earnings summaries and quarterly performance for Koppers Holdings.
Executive leadership at Koppers Holdings.
Leroy Ball
Detailed
Chief Executive Officer
CEO
JS
James Sullivan
Detailed
President and Chief Transformation Officer
JS
Jimmi Sue Smith
Detailed
Chief Financial Officer
SA
Stephanie Apostolou
Detailed
Chief Legal and Sustainability Officer and Secretary
SL
Stephen Lucas
Detailed
Senior Vice President, Culture and Engagement
Board of directors at Koppers Holdings.
Research analysts who have asked questions during Koppers Holdings earnings calls.
GP
Gary Prestopino
Barrington Research
4 questions for KOP
Also covers: AIOT, CARS, CCCS +16 more
Liam Burke
B. Riley Financial
3 questions for KOP
Also covers: ALTG, BWMN, CCEC +22 more
DM
David Marsh
Singular Research
2 questions for KOP
Also covers: ARC, ARLP, CURI +7 more
MM
Michael Mathison
Sidoti & Company, LLC
2 questions for KOP
Also covers: ALEX, ARLP, GNK +3 more
JW
James Wilen
Wilen Management
1 question for KOP
Also covers: EGY, HEES, PKOH +1 more
Recent press releases and 8-K filings for KOP.
Koppers Outlines Strategic Shift to Growth Phase and Financial Objectives
KOP
Guidance Update
Share Buyback
New Projects/Investments
- Koppers has completed its "build phase" and is now focused on a "growth stage" strategy, aiming for strong cash flow generation. The Catalyst Initiative, launched early this year, targets $40 million in annual benefits and aims to achieve recurring EBITDA margins over 15%, 10% annual EPS growth, and at least $100 million in annual free cash flow.
- Capital expenditures have been significantly reduced to between $52 million and $55 million this year, down from over $100 million during the previous "build phase".
- The company has been active in share repurchases, buying back over $40 million in 2024 and $33 million through Q3 2025, with remaining capacity. Net leverage ended Q3 2025 at just under 3.5x, with a long-term goal of below 2.5x after 2028.
- While all three segments experienced a year-over-year revenue decline, Koppers is improving margins through expense cuts, price increases, and manufacturing efficiency. The Railroad Products and Services segment's EBITDA margin is projected to improve from just under 9% in 2024 to over 12% in 2025.
Dec 10, 2025, 4:30 PM
Koppers Outlines Strategic Shift and Financial Targets
KOP
Guidance Update
Share Buyback
New Projects/Investments
- Koppers is transitioning from a capital-intensive "build phase" to a "growth stage" focused on generating strong cash flow and shareholder value.
- The company's Catalyst Initiative aims for $40 million in annual benefits, targeting recurring EBITDA margins over 15%, 10% annual EPS growth, net leverage below 2.5x, and at least $100 million in annual free cash flow within three years.
- Capital expenditures have been significantly reduced to $52-$55 million in 2025, down from over $100 million during its build phase, contributing to increased free cash flow generation.
- Koppers has actively repurchased shares, with over $40 million in 2024 and $33 million through Q3 2025, and management views buybacks as a good use of capital.
- Despite a Q3 2025 revenue decline across all segments, the company reported consistently strong cash flows, on track for its seventh year of operating cash flow above $100 million, and improved margins through expense cuts, price increases, and manufacturing efficiency.
Dec 10, 2025, 4:30 PM
Koppers Outlines Strategic Shift, Catalyst Initiative, and Capital Allocation Priorities
KOP
Guidance Update
Share Buyback
New Projects/Investments
- Koppers is transitioning from a "build phase" of capital investments to a "growth stage" focused on generating strong cash flow, reducing debt, and investing for future growth.
- The company launched its Catalyst Initiative in early 2025, an operational assessment and restructuring activity targeting $40 million in annual benefits through cost savings and operational improvements.
- Key financial objectives by the end of the three-year Catalyst process include achieving consolidated recurring EBITDA margins greater than 15%, 10% annual EPS growth, net leverage below 2.5 times, and generating at least $100 million of free cash flow annually.
- Koppers has been actively returning capital to shareholders, with projected capital expenditures of $52-$55 million in 2025 (down from over $100 million) , share repurchases of over $40 million in 2024 and $33 million through Q3 2025 , and a $0.08 quarterly dividend that has increased annually.
Dec 10, 2025, 4:30 PM
Koppers Provides 2025 Financial Guidance and Segment Outlook
KOP
Guidance Update
Demand Weakening
- Koppers projects $65 million in cash interest for 2025 and aims for $100 million in annual free cash flow from 2026 to 2028.
- The company's capital expenditure guidance for 2025 is around $55 million, with a normalized maintenance level expected to be $50-$60 million.
- The Performance Chemicals segment anticipates a $41-$43 million decrease in 2025 EBITDA compared to 2024, primarily due to market share reductions as major customers shift to dual-sourcing.
- The Railroad and Utility Products and Services segment expects an EBITDA increase of $28-$30 million in 2025, driven by significant cost reductions on the rail side and emerging demand for utility poles.
- The Carbon Materials and Chemicals segment forecasts an $8-$9 million EBITDA increase in 2025, mainly from cost reductions and operational streamlining, including the potential shutdown of a tar distillation column.
Dec 2, 2025, 3:50 PM
Koppers Provides 2025 Financial and Segment Outlook
KOP
Guidance Update
Demand Weakening
New Projects/Investments
- Koppers anticipates cash interest of approximately $65 million for 2025 and aims for $100 million in annual free cash flow during the 2026-2028 strategic plan period.
- The Performance Chemicals (PC) segment's 2025 EBITDA guidance is down $41-$43 million compared to 2024, primarily due to volume reduction from market share loss as major customers moved to dual-sourcing. Copper price dislocation also had an impact of $5-$10 million for the year.
- The Railroad and Utility Products and Services (RUPS) segment expects an EBITDA increase of $28-$30 million in 2025 over 2024, driven by cost structure improvements on the rail side and initial positive signs in utility poles demand.
- The Carbon Materials and Chemicals (CMC) segment forecasts an EBITDA increase of $8-$9 million in 2025 compared to 2024, largely due to cost reductions, including the shutdown of the phthalic anhydride unit at Stickney.
Dec 2, 2025, 3:50 PM
Koppers Provides 2025 Financial Guidance and Segment Outlook
KOP
Guidance Update
Demand Weakening
Cost Reductions
- Koppers provided 2025 financial guidance, including approximately $65 million for cash interest and a normalized CapEx range of $50-$60 million, with an annual free cash flow goal of $100 million for 2026-2028.
- The Performance Chemicals (PC) segment's EBITDA is expected to decrease by $41-$43 million in 2025, primarily due to market share reductions as major customers shifted to dual-sourcing.
- The Railroad and Utility Products and Services (RUPS) segment's EBITDA is projected to increase by $28-$30 million in 2025, driven by significant cost reductions and improved margins on the rail side, with emerging positive signs in utility pole demand and plans for geographic expansion.
- The Carbon Materials and Chemicals (CMC) segment's EBITDA is guided up by $8-$9 million in 2025, mainly due to cost reductions, including the shutdown of the phthalic anhydride unit, and the company is considering further streamlining operations by potentially shutting down one of its two tar distillation columns.
- Koppers experienced a $5-$10 million impact in 2025 from copper hedging due to market dislocation but is implementing new strategies to mitigate future price risk.
Dec 2, 2025, 3:50 PM
Koppers Outlines Strategic Transformation and Financial Outlook at Southwest IDEAS Conference
KOP
Guidance Update
Share Buyback
New Projects/Investments
- Koppers (KOP) projects $135 million in operating cash flow and over $80 million in free cash flow for 2025, supported by a reduction in capital spending to $55 million.
- The company initiated a "Catalyst" strategic transformation process in 2025, aiming to realize approximately $40 million in benefits this year and targeting an adjusted EBITDA margin exceeding 15%, leverage below 3x, and free cash flow above $100 million annually by 2028.
- For 2024, Koppers reported $2.1 billion in sales, $260 million in adjusted EBITDA, and an adjusted EBITDA margin of 12.5%, which has since improved to above 14% in 2025 despite a top-line decline.
- In Q3 2025, Koppers sold its Koppers Railroad structures business and exited a phthalic anhydride plant, while repurchasing over $30 million in stock through Q3 2025.
Nov 20, 2025, 5:15 PM
Koppers Provides Business Update and Strategic Outlook at Southwest IDEAS Conference
KOP
Guidance Update
Share Buyback
New Projects/Investments
- Koppers expects to generate $135 million in operating cash flow and over $80 million in free cash flow in 2025, with a long-term goal of over $100 million in free cash flow annually by 2028.
- The company is implementing a "Catalyst" strategic transformation, projected to yield around $40 million in benefits in 2025 and targeting an adjusted EBITDA margin in excess of 15% by 2028.
- Capital spending is projected to decrease to $55 million in 2025 from $120 million in 2023, with excess cash being used for debt reduction, share buybacks (over $30 million through Q3 2025), and dividends.
- In 2024, Koppers reported sales of $2.1 billion, adjusted EBITDA of around $260 million, and adjusted EPS of just over $4, with an adjusted EBITDA margin of 12.5%. The adjusted EBITDA margin is expected to be above 14% in 2025.
Nov 20, 2025, 5:15 PM
Koppers Outlines Strategic Transformation and Financial Outlook
KOP
Guidance Update
Share Buyback
M&A
- Koppers projects $135 million in operating cash flow and over $80 million in free cash flow for 2025, with a focus on debt paydown and share repurchases.
- The company's Catalyst strategic transformation process, initiated in early 2025, is expected to generate around $40 million in benefits this year through cost savings and operational improvements.
- Koppers aims to achieve an adjusted EBITDA margin in excess of 15%, leverage well below three times, and free cash flow above $100 million annually by 2028.
- Capital spending is projected to decrease to $55 million in 2025, down from $75 million in 2024 and $120 million in 2023, with over $30 million in share buybacks through Q3 2025.
- Koppers sold its Koppers Railroad Structures business in Q3 2025 and exited its phthalic anhydride plant to optimize its portfolio and improve returns.
Nov 20, 2025, 5:15 PM
Koppers Reports Q3 2025 Results and Updates Full-Year Guidance
KOP
Earnings
Guidance Update
Demand Weakening
- Koppers reported Q3 2025 sales of $485 million, a 12% decrease from Q3 2024, with adjusted EBITDA of $70.9 million and adjusted EPS of $1.21 per share.
- The company revised its 2025 guidance, projecting consolidated sales of $1.9 billion and adjusted EBITDA between $255 million and $260 million, with adjusted EPS expected to be in the range of $4.00 to $4.15 per share.
- Koppers continued its focus on cost control, achieving a 14% reduction in adjusted SG&A year-to-date (over $19 million in savings), and expects its Catalyst program to deliver $80 million in ongoing benefits by 2028, with over $40 million captured in 2025.
- Capital allocation highlights include $33.3 million in year-to-date share repurchases, a quarterly dividend of $0.08 per share (a 14% increase over 2024), and a reduction in net debt by $45 million from Q2 to $885 million at September 30, 2025.
Nov 7, 2025, 4:00 PM
Quarterly earnings call transcripts for Koppers Holdings.
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