Koppers Holdings (KOP) Tops Q1 EPS by 3c, Revenues Beat; Affirms FY19 Revenue Mid-Point Guidance Above Consensus

Koppers Holdings (NYSE: KOP) reported Q1 EPS of $0.62, $0.03 better than the analyst estimate of $0.59. Revenue for the quarter came in at $434.9 million versus the consensus estimate of $413.87 million.

Commenting on the quarter, President and CEO Leroy Ball said, "I am particularly pleased with how we withstood the challenges of several headwinds during the quarter and still managed to post results in the range of our expectations. Weather wreaked havoc on both our supply chain and end markets, yet we were able to find ways to mitigate those issues and remain on track for our 2019 guidance. In the RUPS segment, a strong commercial crosstie market led to better pricing and made up for an ongoing lack of dry crossties to treat to meet Class I demand. In PC, early softness in its industrial markets, a slower-than-expected start to the residential construction season, and higher average raw material costs were mitigated by certain pricing and market share gains, a further displacement of third-party raw material purchases with lower-cost intermediate raw material production, and operating and administrative cost savings. As expected, our profit mix is shifting toward our wood preservative and treatment businesses which aligns with the long-term strategy for Koppers."

GUIDANCE:

Koppers Holdings sees FY2019 revenue of $1.8-1.9 billion, versus the consensus of $1.83 billion.

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

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