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Koppers Net Income Rises 44%, Beats Estimates
11:10 AM MDT | November 3, 2011 | Vincent Valk
Koppers Holdings’ third-quarter net income rose 44% year-on-year, to $22.4 million, or $1.08/share, on sales up 19%, to $401 million. Earnings beat analysts’ consensus of $1.01/share, as reported by Thomson One (New York). Income rose due to higher prices for phthalic anhydride and carbon pitch and higher volumes and prices for crossties. Sales in the company’s carbon materials and chemicals unit rose 22% year-on-year, to $265.4 million, while sales in its railroad and utility products unit rose 15%, to $135.6 million. Higher volumes and...
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