Koppers Holdings Inc. reported a total revenue of $2.09 billion for the fiscal year ending December 31, 2024, a decrease of 2.9% from $2.15 billion in 2023. The company's net income attributable to Koppers was $52.4 million, down from $89.2 million in the previous year. The decline in profitability was attributed to lower sales prices and volumes in the Carbon Materials and Chemicals (CMC) segment, which saw a significant drop in revenue from $584.7 million in 2023 to $497.8 million in 2024. Conversely, the Railroad and Utility Products and Services (RUPS) segment experienced a revenue increase of 5.0%, reaching $942.7 million, driven by pricing increases and higher volumes.
The company undertook strategic developments during the year, including the acquisition of Brown Wood Preserving Company for approximately $100 million, which is expected to enhance Koppers' presence in the utility pole market. This acquisition, completed in April 2024, has been integrated into the existing utility pole plants and distribution network. Additionally, Koppers announced the discontinuation of phthalic anhydride production at its Stickney, Illinois facility, a decision driven by high capital spending requirements and anticipated environmental benefits.
Operationally, Koppers reported a total employee count of approximately 2,000 as of December 31, 2024, with a significant portion represented by labor unions. The company has also focused on improving its employee engagement and safety culture through various initiatives. The RUPS segment remains a key area of growth, with expectations to expand into new geographic markets, particularly in Texas and the Midwest, while the Performance Chemicals segment aims to recover market share lost in recent years.
Looking ahead, Koppers anticipates a stable crosstie market with an estimated 19.5 million purchases in 2025, slightly down from 2024. The utility pole market is expected to grow, driven by aging infrastructure and increased demand for electricity due to technological advancements. However, the CMC segment faces challenges due to reduced demand in the steel and aluminum industries, prompting Koppers to explore alternative product strategies. The company remains committed to managing costs and enhancing operational efficiencies to navigate the competitive landscape and achieve long-term profitability.
About Koppers Holdings Inc.
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