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Koppers earnings fall but beat estimates

9:59 AM MDT | August 8, 2013 | Vincent Valk

Koppers has reported second-quarter net income down 29% year-on-year (YOY), to $14.4 million, or 69 cts/share, on sales down 10%, to $370.9 million. Adjusted earnings totaled 70 cts/share, beating analysts’ consensus estimate of 67 cts/share, as reported by Thomson Reuters (New York). Earnings matched guidance issued by Koppers in July, which called for earnings of 66-70 cts/share, a 32% cut from prior guidance. Weakness in carbon chemicals due to European economic conditions drove the guidance cut, Koppers said at the time. Carbon materials and chemicals...

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