Koppers Holdings Inc. reported net for the Q4 2022 of $13.8 million, or $0.65 per diluted share, compared to $22.2 million, or $1.01 per diluted share, in the prior year quarter.
Adjusted net income and adjusted earnings per share (EPS) were $23.0 million and $1.09 per share for the Q4 2022, compared to $16.9 million and $0.77 per share in the prior year quarter, respectively.
Consolidated sales of $482.6 million, which was a quarterly record, increased by $77.3 million, or 19.1%, compared with $405.3 million in the prior year. Excluding a $14.7 million unfavorable impact from foreign currency changes, sales increased by $92.0 million, or 22.7%.
President and CEO Leroy Ball said, "Overall, I am happy to state that 2022 represented another year of solid performance. Profitability was strong in the Q4 and for the full year as CMC continued to lead the way with exceptional performance. Only a handful of companies outside of China can meet the unique market need that our CMC business does, and our products command a high value, which reflects their importance. RUPS demonstrated notable improvement in both quarterly and annual performance as demand for utility poles remained strong supporting higher pricing, recent capital improvements began paying off, and hardwood availability increased. Our PC segment finished the year in disappointing fashion as we honored supply agreements and absorbed higher costs with limited pass-through in price. By contrast, 2023 points to a better PC story, as new pricing takes effect, positioning us on the right side of the market."
Koppers Holdings Inc., with corporate headquarters in Pittsburgh, Pennsylvania, is an integrated global provider of treated wood products, wood treatment chemicals, and carbon compounds.
