Koppers Holdings Inc. reported net income for the 3Q $19.8 million, or $0.94 per diluted share compared to net income of $7.6 million, or $0.35 per diluted share in the prior year quarter. Consolidated sales were $474.9 million for the 3Q 2019, an increase of $32.2 million, or 7.3%, from sales of $442.7 million in the prior year quarter, as the company said in the press release received by Lesprom Network.
This represented a third consecutive record sales quarter, primarily driven by continued demand in various end markets for wood-preservation products and services. Excluding a negative impact from foreign currency translation of $6.1 million, sales were higher by $38.3 million or 8.7%.
President and CEO Leroy Ball said, "I am pleased to report that we remain on track for another year of strong financial performance. Once again, the strength of our diversified business model was on display during the September quarter as we delivered record sales for a third consecutive quarter and one of our best-ever third quarters from a profitability standpoint. Our wood-based businesses continued to demonstrate strong year-over-year gains due to favorable business conditions, market share growth and cost efficiencies. At the same time, our CMC business posted another strong quarter in a challenging market environment."
Koppers is an integrated global provider of treated wood products, wood treatment chemicals and carbon compounds.
