Koppers Holdings Inc. reported full-year 2024 sales of $2.09 billion, a decrease from $2.15 billion in 2023. Adjusted EBITDA for the full year was $261.6 million, an increase from $256.4 million in 2023. The company reported a net loss attributable to Koppers of $10.2 million, or $0.50 per diluted share, for the fourth quarter of 2024, compared to net income of $12.9 million, or $0.59 per diluted share, in the prior year quarter.
For the fourth quarter of 2024, adjusted EBITDA was $55.2 million, up from $53.9 million in Q4 2023, and adjusted EPS was $0.77, up from $0.67. The Railroad and Utility Products and Services (RUPS) segment saw lower sales but its domestic utility pole business achieved record operating profit and adjusted EBITDA for the quarter. The Performance Chemicals (PC) segment experienced decreased sales but improved margins due to cost savings initiatives.
Koppers provided its 2025 outlook, forecasting sales of approximately $2.17 billion and adjusted EBITDA of $280 million, a 7 percent increase over 2024. The company projects adjusted earnings per share of $4.75, representing a new high and a 16 percent increase from $4.11 in 2024. Operating cash flow is expected to be $150 million, with capital expenditures moderating to $65 million.
Management stated that the company has completed its heavy investment period and is now focused on maximizing value through increased earnings and free cash flow. Capital allocation priorities for 2025 include debt reduction and share repurchases, with a target to end 2025 at or below 3x net leverage. The company completed the termination of its largest U.S. qualified pension plan in February 2025, requiring $13.9 million in funding for 2025.
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