Koppers Holdings Inc. reported net for the 1Q 2019 of $11.5 million, or $0.55 per diluted share compared to net income of $17.8 million, or $0.81 per diluted share in the prior year quarter.
Consolidated sales were $434.9 million for the 1Q 2019, an increase of $28.8 million, or 7.1%, from sales of $406.1 million in the prior year quarter. This represented a 1Q record in sales, driven by the company's wood-preservation businesses. Excluding a negative impact from foreign currency of $10.7 million, sales were higher by $39.5 million or 9.7%.
Operating profit was $28.4 million, or 6.5%, compared with $43.3 million, or 10.7%, in the prior year quarter. Adjusted EBITDA was $46 million, or 10.6%, compared with $66.2 million, or 16.3%, in the prior year quarter, due primarily to lower profitability from the CMC segment in China, partially offset by higher profitability from the company's wood-based businesses, RUPS and PC.
Commenting on the quarter, President and CEO Leroy Ball said, "I am particularly pleased with how we withstood the challenges of several headwinds during the quarter and still managed to post results in the range of our expectations. Weather wreaked havoc on both our supply chain and end markets, yet we were able to find ways to mitigate those issues and remain on track for our 2019 guidance."
Koppers is an integrated global provider of treated wood products, wood treatment chemicals and carbon compounds.
