Koppers Holdings sees FY23 adjusted EPS about $4.40, consensus $4.39

Sees FY23 revenue approximately $2.1B, consensus $2.11B. Commenting on the forecast, CEO Ball said, “As we close the first half of 2023, I remain confident in our ability to meet and possibly exceed our $250 million adjusted EBITDA forecast for the year. I also believe that we remain on track to reach our $300 million adjusted EBITDA target in 2025, with several attractive opportunities that can take Koppers even further. In the near term, we expect residential treated wood volumes to remain resilient and buck the softening trends seen in most other building products categories. The utility pole market remains as strong as ever, and our customer base is anticipating that the demand strength will continue for the next few years, at minimum. The railroad industry must maintain its infrastructure for safety and reliability; therefore, we are building our inventories and expect to benefit from operational efficiencies associated with higher crosstie treatment volumes. As expected, our current challenge is balancing the volatility in CMC for coal tar and end market demand; however, we are well positioned to manage through it. Serving a diversified mix of infrastructure-related markets through our unique, vertically integrated business model continues to serve us well and remains the biggest driver to our ongoing success.”