$KOP

Koppers Holdings Inc.

CIK:0001315257|SEC Filings

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 520.1	$ 504.8	$ 975.4	$ 961.3
Cost of sales	411.1	390.6	779.8	741.3
Depreciation and amortization	17.9	18.0	37.3	36.0
Selling, general and administrative	40.9	39.5	82.6	80.6
Impairment and restructuring	215.8	17.6	223.6	37.6
Loss (gain) on sale of assets	0.4	(0.0)	(3.9)	(0.3)
Operating (loss) profit	(166.0)	39.1	(144.0)	66.1
Other income, net	1.0	2.1	1.9	3.5
Interest expense	15.0	17.3	30.0	33.9
Loss on pension settlement	(0.0)	(0.0)	(0.0)	29.0
(Loss) income before income taxes	(180.0)	23.9	(172.1)	6.7
Income tax (benefit) provision	(32.5)	7.5	(31.7)	4.2
Net (loss) income	$ (147.5)	$ 16.4	$ (140.4)	$ 2.5
(Loss) earnings per common share:
Basic (in dollars per share)	$ (7.71)	$ 0.83	$ (7.26)	$ 0.13
Diluted (in dollars per share)	$ (7.71)	$ 0.81	$ (7.26)	$ 0.12
Weighted average shares outstanding (in thousands):
Basic (in shares)	19,128	19,883	19,338	20,123
Diluted (in shares)	19,128	20,235	19,338	20,456

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash provided by (used in) operating activities:
Net (loss) income	$ (140.4)	$ 2.5
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	37.3	36.0
Impairment and depreciation in impairment and restructuring	209.7	18.0
Stock-based compensation	6.8	8.3
Change in derivative contracts	6.9	(9.8)
Non-cash interest expense	1.9	1.9
(Gain) on sale of assets	(3.8)	(1.0)
Insurance proceeds	(0.0)	(2.2)
Deferred income taxes	(36.7)	1.0
Pension settlement	(0.0)	29.0
Change in other liabilities	(1.8)	3.0
Cloud-based software implementation costs, net of amortization	0.2	(2.4)
Other - net	(0.4)	(1.4)
Changes in working capital:
Accounts receivable	(48.2)	(14.1)
Inventories	19.2	9.5
Accounts payable	44.5	(13.3)
Accrued liabilities	5.0	(34.3)
Other working capital	(3.9)	(2.9)
Net cash provided by operating activities	96.3	27.8
Cash (used in) provided by investing activities:
Capital expenditures	(23.7)	(26.4)
Insurance proceeds	0.0	2.2
Sale of assets	0.0	2.5
Sale of business and divestitures	0.5
Sale of business and divestitures		(7.6)
Other investing activities	0.8	(10.0)
Net cash (used in) investing activities	(22.4)	(39.3)
Cash (used in) provided by financing activities:
Borrowings of credit facility	358.4	271.5
Repayments of credit facility	(379.4)	(231.8)
Repayments of long-term debt	(2.5)	(2.5)
Issuances of Common Stock	0.5	0.6
Repurchases of Common Stock	(43.9)	(29.2)
Payment of debt issuance costs	(0.0)	(2.1)
Dividends paid and return of capital to noncontrolling interests	(3.8)	(3.2)
Net cash (used in) provided by financing activities	(70.7)	3.3
Effect of exchange rate changes on cash	(0.5)	2.7
Net increase (decrease) in cash and cash equivalents	2.7	(5.5)
Cash and cash equivalents at beginning of period	38.0	43.9
Cash and cash equivalents at end of period	40.7	38.4
Supplemental disclosure of non-cash investing and financing activities:
Right-of-use assets obtained in exchange for new operating lease liabilities	15.8	23.3
Accrued capital expenditures	$ 0.8	$ 2.4

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and cash equivalents	$ 40.7	$ 38.0
Accounts receivable, net of allowance of $4.6 and $7.0	205.7	158.7
Inventories, net	385.7	411.2
Derivative contracts	23.2	31.5
Other current assets	24.3	29.3
Total current assets	679.6	668.7
Property, plant and equipment, net of accumulated depreciation of $646.6 and $465.4	482.1	650.9
Goodwill	329.1	329.4
Intangible assets, net	96.6	106.7
Operating lease right-of-use assets	103.6	102.9
Deferred tax assets	7.2	7.0
Other assets	24.1	21.2
Total assets	1,722.3	1,886.8
Liabilities
Accounts payable	166.0	122.4
Accrued liabilities	91.8	72.6
Current operating lease liabilities	28.7	27.2
Current maturities of long-term debt	4.9	4.9
Total current liabilities	291.4	227.1
Long-term debt	892.7	914.3
Operating lease liabilities	75.3	76.1
Accrued postretirement benefits	12.9	13.7
Deferred tax liabilities	7.4	43.7
Other long-term liabilities	55.6	37.6
Total liabilities	1,335.3	1,312.5
Commitments and contingent liabilities (Note 12)
Equity
Senior Convertible Preferred Stock, $0.01 par value per share; 10,000,000 shares authorized; no shares issued	0.0	0.0
Common Stock, $0.01 par value per share; 80,000,000 shares authorized; 26,824,475 and 26,213,052 shares issued	0.3	0.3
Additional paid-in capital	339.7	332.4
Retained earnings	395.0	539.4
Accumulated other comprehensive loss	(67.0)	(61.4)
Treasury stock, at cost, 7,920,741 and 6,757,247 shares	(281.0)	(236.7)
Total Koppers shareholders’ equity	387.0	574.0
Noncontrolling interests	0.0	0.3
Total equity	387.0	574.3
Total liabilities and equity	$ 1,722.3	$ 1,886.8