Koppers Holdings Inc. reported 3Q 2017 net income of $19.8 million, or $0.91 per diluted share compared to net income attributable to Koppers of $12.1 million, or $0.58 per diluted share in the prior year quarter. Adjusted net income was $31.5 million compared with $20.9 million in the prior year quarter, as the company said in the press release received by Lesprom Network.
For the 3Q 2017, consolidated sales of $384.8 million increased by $13.7 million, or 3.7%, compared with sales of $371.7 million in the prior year quarter.
The Carbon Materials and Chemicals (CMC) segment reported higher sales prices for carbon pitch and carbon black feedstock in Australasia and Europe, and higher sales volumes for carbon black feedstock and phthalic anhydride, partially offset by lower carbon pitch and creosote volumes.
Commenting on the quarter, President and CEO Leroy Ball said, "Our strategy to shift the company's focus to higher value wood treatment technologies while operating a leaner footprint continues to pay off, as evidenced by our steadily improving safety and financial performance. Our September quarter exceeded my expectations and as a result, it is likely that earnings in 2017 will represent one of the best years in our history."
Koppers Holdings Inc. is an integrated global provider of treated wood products, wood treatment chemicals and carbon compounds.