Koppers earnings affected by plant problems, sales up year-on-year

Koppers Holdings (Pittsburgh) reported a decrease in net income—due to higher raw material costs, lower volumes for pitch, lower prices for naphthalene and costs associated with unexpected plant outages—but a minor increase in sales for the third quarter 2012. Earnings of $16 million fell 28% year-on-year (YOY). Adjusted earnings of $17.2 million, or 82 cts/share, were down 22% YOY and below analyst estimates of 98 cts/share, according to Thomson Reuters (New York). Sales were $387.9 million, up 2% from the third quarter 2011. “Our third quarter...

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