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Koppers Holdings(KOP) - 2024 Q4 - Annual Results
KOPKoppers Holdings(KOP)2025-02-27 13:33

Sales Performance - Fourth-quarter sales were 477.0million,adecreaseof477.0 million, a decrease of 36.2 million, or 7.1%, compared to 513.2millionintheprioryearquarter[5].−Full−yearsalestotaled513.2 million in the prior year quarter[5]. - Full-year sales totaled 2.09 billion, down 62million,or2.962 million, or 2.9%, from 2.15 billion in the prior year[11]. - The RUPS segment reported sales of 215.6million,aslightdecreaseof215.6 million, a slight decrease of 0.8 million, or 0.4%, compared to the prior year quarter, with adjusted EBITDA of 17.5million[11].−ThePCsegment′ssaleswere17.5 million[11]. - The PC segment's sales were 147.9 million, down 16.5million,or10.016.5 million, or 10.0%, with adjusted EBITDA of 28.6 million, or 19.3%[11]. - The CMC segment experienced sales of 113.5million,adeclineof113.5 million, a decline of 18.9 million, or 14.3%, with adjusted EBITDA increasing to 9.1million,or8.09.1 million, or 8.0%[11]. - The Performance Chemicals segment reported net sales of 147.9 million in Q4 2024, down from 164.4millioninQ42023[38].NetIncomeandLoss−ThenetlossattributabletoKoppersforQ42024was164.4 million in Q4 2023[38]. Net Income and Loss - The net loss attributable to Koppers for Q4 2024 was 10.2 million, or 0.50perdilutedshare,comparedtoanetincomeof0.50 per diluted share, compared to a net income of 12.9 million, or 0.59perdilutedshareinQ42023[3].−NetlossattributabletoKoppersforQ42024was0.59 per diluted share in Q4 2023[3]. - Net loss attributable to Koppers for Q4 2024 was (10.2) million, a decrease from 12.9millioninQ42023[43].−AdjustednetincomeattributabletoKoppersfortheyearendedDecember31,2024,was12.9 million in Q4 2023[43]. - Adjusted net income attributable to Koppers for the year ended December 31, 2024, was 87.5 million, down from 94.0millionin2023,representinga6.994.0 million in 2023, representing a 6.9% decline[43]. - Adjusted earnings per share for the year ended December 31, 2024, was 4.11, slightly down from 4.36in2023[43].−DilutedearningspershareforQ42024was4.36 in 2023[43]. - Diluted earnings per share for Q4 2024 was (0.50), compared to 0.59inQ42023[43].AdjustedEBITDA−AdjustednetincomeforQ42024was0.59 in Q4 2023[43]. Adjusted EBITDA - Adjusted net income for Q4 2024 was 16.0 million, or 0.77pershare,comparedto0.77 per share, compared to 14.5 million, or 0.67pershareintheprioryearquarter[4].−AdjustedEBITDAforthetotalcompanywas0.67 per share in the prior year quarter[4]. - Adjusted EBITDA for the total company was 55.2 million in Q4 2024, slightly up from 53.9millioninQ42023[38].−AdjustedEBITDAforQ42024was53.9 million in Q4 2023[38]. - Adjusted EBITDA for Q4 2024 was 55.2 million, compared to 53.9millioninQ42023,reflectinga2.453.9 million in Q4 2023, reflecting a 2.4% increase[40]. - Total adjustments to arrive at adjusted net income for Q4 2024 amounted to 34.8 million, significantly higher than 2.2millioninQ42023[43].ExpensesandCharges−Thecompanyincurredimpairmentandrestructuringchargesof2.2 million in Q4 2023[43]. Expenses and Charges - The company incurred impairment and restructuring charges of 16.9 million in Q4 2024, compared to no charges in Q4 2023[32]. - Interest expense for the year ended December 31, 2024, increased to 76.2millionfrom76.2 million from 71.0 million in 2023, marking a 3.5% rise[40]. - Depreciation and amortization for the year ended December 31, 2024, rose to 67.5million,upfrom67.5 million, up from 57.0 million in 2023, indicating an 18.6% increase[40]. Future Projections - For 2025, Koppers expects sales of approximately 2.17billionandadjustedEBITDAofapproximately2.17 billion and adjusted EBITDA of approximately 280 million[12]. - The projected effective tax rate for adjusted net income in 2025 is approximately 28%, with adjusted EPS forecasted at 4.75pershare[13].−Capitalexpendituresareanticipatedtobeapproximately4.75 per share[13]. - Capital expenditures are anticipated to be approximately 65 million in 2025, down from 77.4millionin2024[15].BalanceSheetandAssets−Totalassetsincreasedto77.4 million in 2024[15]. Balance Sheet and Assets - Total assets increased to 1,890.2 million in 2024 from 1,835.5millionin2023,indicatinggrowthinthecompany′sassetbase[34].−Long−termdebtroseto1,835.5 million in 2023, indicating growth in the company's asset base[34]. - Long-term debt rose to 925.9 million in 2024, up from 835.4millionin2023,reflectingincreasedleverage[34].−Cashandcashequivalentsdecreasedto835.4 million in 2023, reflecting increased leverage[34]. - Cash and cash equivalents decreased to 43.9 million at the end of 2024 from 66.5millionattheendof2023[36].OperationalPerformance−OperatingprofitforQ42024was66.5 million at the end of 2023[36]. Operational Performance - Operating profit for Q4 2024 was 6.4 million, down from $37.2 million in Q4 2023, reflecting a significant decline[32]. - The company plans to focus on cost reduction efforts and market expansion strategies to improve future performance[31]. - The diluted weighted average common shares outstanding decreased to 20,864 thousand in Q4 2024 from 21,687 thousand in Q4 2023[43].