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Koppers (KOP) investor relations material
Koppers Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 sales declined 12.4% year-over-year to $485.3 million, with net income rising to $23.8 million due to cost reductions and business optimization, including a 17% workforce reduction and portfolio simplification through the sale of the Railroad Structures business and closure of the phthalic anhydride plant.
Adjusted EBITDA was $70.9 million, down from $77.4 million in Q3 2024, with a margin of 14.6%; adjusted EPS was $1.21, down from $1.37, while diluted EPS rose to $1.17.
Significant cost savings achieved, with SG&A down 14% year-to-date, and operating cash flow for the nine months ended September 30, 2025, up to $77.4 million.
Major restructuring included the shutdown of phthalic anhydride production, a workforce reduction, and the termination of the largest U.S. pension plan.
Laura Posadas was appointed to the Board of Directors, expanding the board to nine members.
Financial highlights
Q3 2025 net sales were $485.3 million, down 12.4% year-over-year; adjusted EBITDA margin was 14.6%.
Net income for Q3 2025 was $23.8 million; adjusted net income attributable to shareholders was $24.4 million.
Operating cash flow for the nine months ended September 30, 2025, was $77.4 million, with year-to-date capital expenditures of $33.7 million.
Net debt at quarter-end was $885 million, with a net leverage ratio of 3.4x and $379 million in available liquidity.
Annual dividend increased 14% to $0.32 per share for 2025; quarterly dividend of $0.08 per share declared.
Outlook and guidance
2025 consolidated sales guidance revised to approximately $1.9 billion, down from $2.1 billion in 2024.
Adjusted EBITDA forecast for 2025 is $255–$260 million, compared to $262 million in 2024; adjusted EPS projected at $4.00–$4.15.
Capital expenditures for 2025 expected at $52–$55 million, down from $74–$77 million in 2024.
Free cash flow is expected to be minimally impacted due to lower capital spending.
Transformation initiatives, including the Catalyst process, target higher margins and returns by 2028.
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