Koppers Holdings: Rises on upbeat prelim Q2 results

Koppers Holdings

27/07/2020 15:29

** Wood preservation products maker's shares  KOP.N  rise as
much as 22% to five-month high of $24.95
    ** Sees better-than-expected Q2 profit and rev, as
stay-at-home orders amid coronavirus crisis lead to rise in home
improvement spending  urn:newsml:reuters.com:*:nPn1CqBqXa
    ** Sees 2020 adj. EBITDA of $190 mln-$200 mln, topping
Street est of $171 mln and 2020 sales of $1.6 bln, marginally
below est - Refintiv IBES data
    ** KOP's EPS has beaten Street est after missing for two
straight quarters, while rev has topped after missing est for
four consecutive quarters
    ** YTD, stock down >35%

 (Reporting by Ankit Ajmera in Bengaluru)
 ((ankit.ajmera@thomsonreuters.com))