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People & Business :: Companies

Koppers earnings plummet on weak carbon materials results

10:48 AM MDT | May 5, 2014 | Vincent Valk

Koppers Holdings today reported net income down 80% year-on-year (YOY), to $2.2 million, or 11 cts/share, on sales down 11%, to $331.4 million. Adjusted earnings totaled $6.6 million, or 32 cts/share, down 41.1% YOY and well short of analysts’ consensus estimate of 54 cts/share, as reported by Thomson Reuters (New York). Adjusted earnings exclude $17.2 million in impairment and plant closure charges within the company’s carbon materials and chemicals segment, which report a loss due to those charges and low selling prices. Bad weather also hurt...

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