Koppers Holdings Inc. reported net income for the 4Q 2021 of $22.2 million, or $1.02 per diluted share, compared to $18.6 million, or $0.86 per diluted share, in the prior year quarter.
Adjusted net income and adjusted earnings per share (EPS) were $16.9 million and $0.77 per share for the 4Q 2021, compared to $16.2 million and $0.75 per share in the prior year quarter, respectively. Adjusted net income included $5.3 million and $2.4 million of reductions for the 4Q 2021 and 2020, respectively.
Consolidated sales were $405.3 million, an increase of $12.2 million, or 3.1%, compared with $393.1 million in the prior year quarter. Excluding a $2.2 million unfavorable impact from foreign currency changes, sales increased by $14.4 million, or 3.7%, from the prior year.
President and CEO Leroy Ball said, "I'm happy we finished the year strong, posting a new quarterly high in CMC adjusted EBITDA and setting a new annual high in PC adjusted EBITDA. Once again, the balance in our business portfolio paid off as strong CMC end markets more than offset difficult, but mostly transitory, cost and supply issues in RUPS. PC had a nice bounce-back quarter to finish at a new high for adjusted EBITDA, the second straight year of achieving above $100 million. I'm proud that despite pandemic-related challenges, the Koppers team continues to deliver value to our diverse markets by staying true to our purpose of Protecting what Matters and Preserving the Future."
FY 2021 consolidated sales of $1.679 billion increased by approximately $10 million, as compared to $1.669 billion in the prior year. Despite continued challenges associated with the global pandemic, 2021 sales, excluding KJCC, represented the highest level of revenues in the history of the company.
FY 2021 net income was $85.2 million, compared with $122 million in the prior year. Adjusted net income was $92.3 million, compared with $88 million in the prior year. Adjusted EBITDA was $223.5 million, or 13.3%, compared with $211 million, or 12.6%, in the prior year.
Koppers, with corporate headquarters in Pittsburgh, Pennsylvania, is an integrated global provider of treated wood products, wood treatment chemicals, and carbon compounds.
