Koppers Holdings Inc. reported net income of $6.4 million in the 4Q 2016, compared to a net loss of $87.7 million in the prior year quarter. Adjusted net income and adjusted earnings per share (EPS) were $8.5 million and $0.40 per share for the 4Q 2016 compared to $2.8 million and $0.13 per share in the prior year quarter, respectively.
Consolidated sales were $313.2 million for the 4Q 2016 and decreased by 13.9%, or $50.5 million, from sales of $363.7 million in the prior year quarter.
President and CEO Leroy Ball said, "Our 4Q performance provides further validation that the future prospects of Koppers continue to improve and our strategic shift to focus on more fundamentally stable and healthier end markets was correct. The results for 2016, on an adjusted basis, represent our second best EBITDA performance in Koppers history, and our operating cash flow of $119 million was only slightly lower than the prior year's record cash flow generation."
Koppers Holdings Inc. is an integrated global provider of treated wood products, wood treatment chemicals and carbon compounds.