Koppers (NYSE:KOP) Announces Earnings Results, Beats Expectations By $0.09 EPS

Koppers (NYSE:KOP) issued its quarterly earnings results on Thursday. The specialty chemicals company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.27 by $0.09, Briefing.com reports. The firm had revenue of $563.20 million during the quarter, compared to analyst estimates of $589.17 million. Koppers had a net margin of 3.59% and a return on equity of 17.19%. Koppers’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.26 earnings per share. Koppers updated its FY24 guidance to $4.10-4.60 EPS and its FY 2024 guidance to 4.100-4.600 EPS.

Koppers Price Performance

KOP opened at $34.95 on Monday. The company has a market capitalization of $740.94 million, a P/E ratio of 9.85 and a beta of 1.85. The company has a 50-day moving average of $38.43 and a 200-day moving average of $46.57. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.00 and a current ratio of 2.29. Koppers has a 1-year low of $33.80 and a 1-year high of $58.23.

Koppers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.28 dividend on an annualized basis and a yield of 0.80%. Koppers’s dividend payout ratio (DPR) is 7.89%.

Insider Buying and Selling

In other news, CEO M Leroy Ball sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $42.45, for a total value of $106,125.00. Following the completion of the sale, the chief executive officer now directly owns 321,008 shares in the company, valued at approximately $13,626,789.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders sold 7,500 shares of company stock worth $319,850. Corporate insiders own 6.55% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Barrington Research restated an “outperform” rating and set a $64.00 target price on shares of Koppers in a report on Monday, August 5th.

About Koppers

Koppers Holdings Inc provides treated wood products, wood preservation chemicals, and carbon compounds in the United States, Australasia, Europe, and internationally. The company operates through Railroad and Utility Products and Services (RUPS), Performance Chemicals (PC), and Carbon Materials and Chemicals (CMC) segments.