Koppers Holdings rises on higher profit, revenue

Koppers Holdings

05/05/2023 18:44

** Shares of wood preservation products maker Koppers Holdings Inc  KOP.N  up 5.5%% at $33
    ** Reports Q1 adj net income of $24 mln, or $1.12 per share, vs. $19.7 mln, or 91 cents per
share, a year earlier
    ** Q1 sales of $513.4 mln vs. $459.3 mln in prior year qtr
    ** Reaffirms FY2023 sales, adj EBITDA and adj EPS guidance
    ** Sees 2023 CAPEX of about $110 mln to $120 mln
    ** Given recessionary concerns & potential impact on our markets, I am favoring a cautious
outlook for balance of the year - CEO Leroy Ball 
    ** KOP up about 17.2% YTD

 (Reporting by Vaibhav Sadhamta)
 ((Vaibhav.Sadhamta@thomsonreuters.com;))