Koppers (NYSE: KOP) FY Conference Summary Company Overview - Koppers is a company that has demonstrated strong profitability and cash flow generation over the years, which has been utilized for acquisitions and debt pay down, aimed at creating shareholder value [38][39][40] Key Financial Metrics - Projected operating cash flow for 2025 is $135 million, with free cash flow expected to exceed $80 million this year [42][43] - In 2024, Koppers generated approximately $260 million of adjusted EBITDA from sales of $2.1 billion, with an adjusted EBITDA margin of 12.5% [46] - The adjusted EBITDA margin has improved to above 14% this year despite a decline in top-line revenue [46] Business Segments 1. **Railroad Products and Services (RUPS)** - Leading supplier of cross ties to Class 1 railroads in North America [43] - Significant competitive advantage due to the location of plants in relation to rail networks [47] 2. **Utility and Industrial Products** - Manufacturer of wooden utility poles, serving eight of the ten largest utilities in the U.S. [44] 3. **Performance Chemicals** - Produces wood preservation chemicals, with a patented technology called MicroPro, which is widely used in residential lumber [44] - This segment is the most profitable, generating over half of adjusted EBITDA with margins exceeding 20% [48] 4. **Carbon Materials and Chemicals (CM&C)** - Smallest business segment with revenue around $500 million last year [50] - Focused on maintaining this business primarily for supplying creosote to the railroad business [50] Market Dynamics - Approximately 75% of Koppers' business is connected to wood preservation, with a significant portion of sales generated in North America [50][51] - The utility pole market has a replacement demand of 2-3 million poles annually, while 18-20 million railroad cross ties are replaced each year [51][52] Strategic Initiatives - The "Catalyst" initiative aims to transform the company by improving cost efficiency and market positioning, targeting $40 million in benefits this year [53][54] - By 2028, Koppers aims for adjusted EBITDA margins exceeding 15% and to reduce leverage to below three times [54] Cost Management - Selling, General and Administrative (SGA) expenses have decreased by 14% compared to the previous year, contributing to improved cash flow [56] - Capital spending is projected to be $55 million in 2025, down from $120 million in 2023, allowing for increased share buybacks and debt reduction [59][60] Sustainability Focus - Koppers emphasizes the sustainability of its products, which are related to renewable resources and critical infrastructure [55] Shareholder Returns - The company has repurchased over $40 million of stock in 2024 and has a small but increasing dividend, currently at $0.08 per quarter [59][60] Conclusion - Koppers is positioned for growth with a focus on improving margins, managing costs, and enhancing shareholder value through strategic initiatives and efficient capital allocation [54][59]

Stella-Jones (OTCPK:STLJ.F) 2025 Investor Day November 20, 2025 09:00 AM ET Speaker0Good morning, everyone. My name is David Gallison. I'm the Vice President of Investor Relations at Stella-Jones. Many of you may recall our inaugural Investor Day in 2023, where we provided a closer look at the business and the team. Building on the success of this past event and on the strong foundations we've laid, today we'll outline our plans for the future growth of Stella-Jones as a leading supplier to essential infras ...