Koppers Holdings Inc. reported net income for the 2Q 2018 of $0.6 million, or $0.03 per diluted share compared to net income of $19.7 million, or $0.90 per diluted share in the prior year quarter. Consolidated sales were $436 million for the 2Q 2018, an increase of $58 million, or 15.3%, from sales of $378 million in the prior year quarter, as the company said in the press release received by Lesprom Network.
Operating profit was $22.3 million, or 5.1%, compared with $38.1 million, or 10.1%, in the prior year quarter. Adjusted EBITDA was $55.3 million, or 12.7%, compared with $55.7 million, or 14.7%, in the prior year quarter.
President and CEO Leroy Ball said, "The 2Q reflected mixed results as continued strength in our CMC markets came close to offsetting the raw material and operating cost headwinds in our PC business. At the same time, contributions from recent acquisitions backfilled the continued year-over-year adjusted EBITDA decline in our legacy RUPS business. Looking ahead, we expect the second half to benefit from several pending opportunities and we continue to project that 2018 will be our most profitable year yet. I believe we are positioned to create value for our customers through the extended vertical integration of our operations as well as through our expertise in wood-treatment technologies."
Koppers Holdings Inc. is an integrated global provider of treated wood products, wood treatment chemicals and carbon compounds.