The following is a summary of the Koppers Holdings Inc. (KOP) Q2 2024 Earnings Call Transcript:
Financial Performance:
Q2 2024 sales reached $563.2 million, a decrease of $14 million versus the previous year.
Adjusted EBITDA hit a new quarterly record of $77.5 million, with a margin of 13.8%, the highest since Q2 2021.
Diluted earnings per share increased to $1.25 from $1.15 year-over-year, and adjusted earnings per share rose to $1.36 from $1.26.
Operating cash flow in Q2 2024 doubled compared to Q2 2023.
Business Progress:
Unveiled the $27 million enhanced carbon products facility in Nyborg.
The acquisition of Brown Wood Preserving Company, improving the company's capacity and operational flexibility.
Continuation of the Zero Harm 2.0 initiative, with 28 out of 47 facilities worldwide reporting zero accidents.
Progress in the Texas market, achieving 40% of the long-term market penetration goal within six months.
Opportunities:
The ability to leverage new facilities for high-quality anode or impregnation pitch, and potentially for the lithium ion battery market presents an opportunity for higher value product sales and reduced volatility in the CM&C segment.
Risks:
Global market conditions and customer negotiations affecting pricing and sales in the RUPS segment pose potential risks.
More details: Koppers IR
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