Koppers Holdings (KOP) Misses Q2 EPS by 1c, Beats on Revenues
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EPS Growth %: -40.2%
Financial Fact:
Net sales: 371.1M
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Koppers Holdings (NYSE: KOP) reported Q2 EPS of $0.90, $0.01 worse than the analyst estimate of $0.91. Revenue for the quarter came in at $378 million versus the consensus estimate of $369 million.
2017 Outlook
Koppers continues to expect that its 2017 sales will be relatively flat year-over-year and remain at approximately $1.4 billion. Based on the strong overall performance in the first half of 2017, the company is increasing its 2017 adjusted EBITDA guidance to $185 million, compared with $180 million previously. Accordingly, the adjusted diluted EPS guidance is being increased to $3.10 to $3.30 compared with $2.80 to $3.00 previously. In addition, the company continues to anticipate capital expenditures to be in the range of $70 million to $75 million and to have a net leverage ratio below 3.5 by year-end 2017.
Commenting on the forecast, Mr. Ball said, "I am expecting continued strong performance from our PC and CMC segments for the remainder of the year to offset the ongoing weakness that we are experiencing in our RUPS business. While there are certain headwinds on the horizon, such as elevated copper pricing, I believe our earnings potential over the next eighteen to twenty-four months remains strong due to factors well within our control such as further cost reductions through the consolidation plan in progress, and productivity improvements."
For earnings history and earnings-related data on Koppers Holdings (KOP) click here.
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