Koppers Holdings (KOP) Tops Q3 EPS by 51c, Beats on Revenues; Offers FY17 Guidance

Koppers Holdings (NYSE: KOP) reported Q3 EPS of $1.43, $0.51 better than the analyst estimate of $0.92. Revenue for the quarter came in at $384 million versus the consensus estimate of $363 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. Due to the strength in the current year\'s results overall, the company is increasing its 2017 adjusted EBITDA guidance to approximately $195 million, compared with $185 million previously. Accordingly, the adjusted diluted EPS guidance is being increased to $3.70 to $3.80 compared with $3.10 to $3.30 previously. In addition, the company continues to anticipate capital expenditures to be in the range of $70 million to $75 million and now expects its net leverage ratio to be at 3.3 or below at year-end 2017.

Commenting on the forecast, Mr. Ball said, "With one quarter remaining, we are on track to have one of our best-performing years ever from an earnings standpoint as our PC and CMC business segments are expected to continue their recent strong performance. While I couldn't be happier for the hard-fought success that our people have achieved, I remain cautious about the organic opportunities that exist to offset some of the potential headwinds that we could face heading into 2018. On the other hand, our steadily improving balance sheet should provide ample opportunity to deploy a thoughtful acquisition strategy that leverages our strengths in wood preservation solutions."

GUIDANCE:

Koppers Holdings sees FY2017 EPS of $3.70-$3.80. Koppers Holdings sees FY2017 revenue of $1.4 million.

For earnings history and earnings-related data on Koppers Holdings (KOP) click here.

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