Koppers Holdings earnings date
Koppers Holdings (KO9) Q3 2026 Earnings Report
DE:KO9 Q3 2026 EPS Results
- Actual EPS
- EUR 0.69
- Consensus EPS
- EUR 1.22
- Beat/Miss
- Missed by -EUR 0.54
- One Year Ago EPS
- EUR 1.08
DE:KO9 Q3 2026 Revenue Results
- Actual Revenue
- EUR 446.87M
- Expected Revenue
- EUR 464.33M
- Beat/Miss
- Missed by -EUR 17.46M
- YoY Revenue Growth
- +2.84%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/06/2026
- Time
- Before Open
- Conference Call
- Friday, November 6, 2026
Koppers Holdings's next earnings date is estimated for March 4, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was cautiously optimistic. Near-term results were pressured by rapidly rising raw material, freight and logistics costs, lower crosstie pricing, CM&C challenges and a reduced 2026 earnings outlook. However, these challenges were offset by record year-to-date cash generation, strong Performance Chemicals and utility-pole volume growth, substantial Catalyst benefits, progress in repositioning the operating network, lower capital requirements and management's expectation of significant earnings improvement in 2027.
For 2026, management guided to sales of $1.9 billion, adjusted EBITDA in the range of $220 million to $225 million, adjusted earnings per share of $3.10 to $3.25 per share, free cash flow of $115 million to $135 million, and total capital expenditures of approximately $50 million; ongoing capital requirements are expected to be in the $40 million to $45 million range, with a greater likelihood we will be below 50 in 2027, while average annual free cash flow is expected to be greater than $100 million, the long term net leverage goal remains 2x-3x, and the Stickney initiative is expected to generate annual adjusted EBITDA benefits of approximately $15 million to $20 million and improve adjusted earnings per share by roughly $1 to $1.2 annually; 2026 initiatives represent $136 million of transformation program benefits, building off $46 million of program benefits in 2025, with the target raised an additional $90 million by 2028, and PC margins of roughly 18% are expected to deteriorate a little further in the fourth quarter before price increases take effect in 2027.
- Third-Quarter Sales GrowthThird-quarter sales increased 3% year over year to $499 million, or $14 million higher, primarily driven by higher volumes in Performance Chemicals and the crosstie business. Foreign currency conversion also had a favorable $6 million impact on sales.
- Record Year-to-Date Operating and Free Cash FlowOperating cash flow for the first nine months was a record $127 million, up from $77 million in the prior-year period. Year-to-date free cash flow was a record $92 million, supported by improved working capital performance, inventory alignment and operational improvements.
- Performance Chemicals Volume and EBITDA GrowthPerformance Chemicals delivered 10% year-over-year volume growth, primarily in the Americas, supported by industrial demand and market-share gains in the residential business. Segment adjusted EBITDA increased $4 million to $30 million, primarily due to higher sales volume and favorable utilization.
- Performance Chemicals Commercial ProgressManagement said more than 80% of the current Performance Chemicals book of business is agreed for 2027 at prices that address the increases in copper, oil-related additives, logistics and other costs. Additional industrial-market growth is already booked for 2027, while the company expects to retain at least its current residential base business.
- Utility Pole Business GrowthThe U.S. utility pole business posted third-quarter sales growth of 5% year over year and 11% year to date. Profitability improved through higher volumes, favorable pricing and modest price increases implemented during the quarter.
- Constructive Utility Infrastructure DemandManagement described the utility infrastructure market as strong, supported by higher electricity rates and power requirements associated with AI infrastructure, crypto mining, electric-vehicle development and increased manufacturing activity. Demand from investor-owned utilities is expected to remain strong through 2027, and the company expects UIP to finish 2026 strongly despite the typical fourth-quarter seasonal slowdown.
- Railroad Volume and Backlog IndicatorsRailroad Products and Services sales volumes were up 3% year to date, with Class I and commercial volumes rebounding in September. Commercial crosstie backlog remained robust heading into the fourth quarter. North American railroad traffic was up 3.1% year over year through early October, including a 3.5% increase in U.S. traffic, a 4.2% increase in intermodal traffic and a 2.7% increase in carloads.
- Catalyst Transformation BenefitsThe Catalyst transformation generated $42 million of year-over-year benefits through September 30, 2026, comprising $8 million in Performance Chemicals, $13 million in RUPS, $11 million in CM&C and $10 million in corporate. The 2026 initiatives represent $136 million of transformation-program benefits, building on $46 million of benefits in 2025, and the company raised its target by an additional $90 million through 2028.
- Stickney Network RepositioningKoppers ended distillation activities at Stickney on September 30 and discontinued the remaining chemical production in October. The company said the repositioning is intended to create a smaller, more efficient and less capital-intensive CM&C business while continuing to serve core customers. It expects annual adjusted EBITDA benefits of approximately $15 million to $20 million, adjusted EPS improvement of roughly $1 to $1.20 annually and lower annual capital spending requirements.
- CM&C Network Transition ProgressKoppers secured feedstock for the production transfer, shipped tar from North America to Europe, and began supplying carbon pitch and creosote through U.S. terminals. Newburn, Denmark supplied approximately 75% of the creosote delivered to the railroad business during August and September and achieved record pitch shipments in September.
- Working Capital ImprovementWorking capital was reduced by $12 million through September 30 compared with December 31, 2025. The improvement reflected lower inventory, the liquidation of Stickney byproduct inventory, customer receipts and vendor-payment timing, and efforts to align inventory with customer demand.
- Capital Allocation and Shareholder ReturnsThrough September 30, the company paid down debt by $34 million, repurchased $51 million of shares and paid $5 million in dividends. The board declared a quarterly dividend of $0.09 per share, a 12.5% increase from the prior year and the fourth consecutive year of annual dividend growth.
- Lower Capital Expenditure OutlookYear-to-date capital expenditures were $35 million, and full-year 2026 capital expenditures are now expected to be approximately $50 million, $5 million below the prior forecast. Management said $50 million could be the high watermark in 2027, with ongoing capital requirements under the current portfolio expected to be approximately $40 million to $45 million.
- Liquidity and Long-Term Cash GenerationAt September 30, Koppers had $360 million of available liquidity and $845 million of net debt. Management said the actions underway create a pathway to generate average annual free cash flow of greater than $100 million and reiterated its long-term goal of reducing net leverage to 2x-3x.
- Environmental Recognition and Investor EngagementKoppers was named to Newsweek's list of greenest companies and received four out of five stars in the Performance and Industrial Chemicals category. The company also hosted its 2026 Investor Day in Atlanta, where it presented its strategic plan, Catalyst initiatives and financial framework.
- Safety Achievements at Operating LocationsTwenty-one of 40 operating locations worked injury-free in the third quarter. Performance Chemicals operations in Europe and Australasia and the CM&C team in Australasia achieved zero recordable accidents.
- Long-Term Portfolio Growth StrategyManagement expects the combined Performance Chemicals and RUPS businesses to represent more than 85% of sales by 2028, primarily through organic growth. Any inorganic activity under consideration would be focused on Performance Chemicals or UIP.
DE:KO9 Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Mar 04, 2027 | 2026 (Q4) | 0.48- | 0.63 | ― | ― |
| Nov 06, 2026 | 2026 (Q3) | 1.220.69 | 1.08 | -36.36% (-0.39) | |
| Aug 06, 2026 | 2026 (Q2) | 1.001.23 | 1.33 | -7.43% (-0.10) | |
| May 08, 2026 | 2026 (Q1) | 0.340.51 | 0.64 | -19.72% (-0.13) | |
| Feb 26, 2026 | 2025 (Q4) | 0.530.63 | 0.69 | -9.09% (-0.06) | |
| Nov 07, 2025 | 2025 (Q3) | 1.121.08 | 1.23 | -11.68% (-0.14) | |
| Aug 08, 2025 | 2025 (Q2) | 1.351.33 | 1.22 | 8.82% (+0.11) | |
| May 09, 2025 | 2025 (Q1) | 0.560.64 | 0.56 | 14.52% (+0.08) | |
| Feb 27, 2025 | 2024 (Q4) | 0.810.69 | 0.6 | 14.93% (+0.09) | |
| Nov 08, 2024 | 2024 (Q3) | 1.121.23 | 1.18 | 3.79% (+0.04) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
