IHS Chemical Week

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Koppers third-quarter results beat estimates

8:19 AM MST | November 7, 2013 | Rebecca Coons

Koppers Holdings reports net income of $19.5 million for its fiscal third quarter, 20.3% higher year-over-year (YOY). Adjusted earnings were 9.8% higher YOY, at 90 cts/share, and handily beat the 78 cts/share analysts’ consensus estimate compiled by Thomson Reuters (New York). Sales increased 2% YOY, to $395.2 million. Carbon materials and chemicals sales were flat YOY, at $241.6 million. Slightly higher average pricing and the positive effect of foreign currency translation were offset by lower sales volumes for phthalic anhydride, Koppers says. Segment...

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