Koppers Holdings shares dropped 26% to $29.52 in premarket trading Friday after the company reported third-quarter profit and sales below analyst expectations. The wood-products and carbon-compounds provider said higher raw material and logistics costs outweighed gains from increased volumes and cost reductions.
Koppers reported third-quarter profit of $14.7 million, or 75 cents a share, compared with $23.8 million, or $1.17 a share, a year earlier. Adjusted earnings were 77 cents a share, short of the $1.37 analysts expected, according to FactSet. Sales rose 2.8% to $499.1 million, below the $518.6 million estimate.
“Our third-quarter results reflect continued challenges in the macroeconomic environment,” Chief Executive Leroy Ball said. He said higher raw material and logistics costs more than offset benefits from efforts to increase volumes and reduce costs.
The company lowered its full-year adjusted earnings-per-share forecast to $3.10 to $3.25, from a previous range of $3.80 to $4.20. Koppers now expects full-year sales of $1.9 billion; its earlier forecast was $1.9 billion to $2 billion. At Thursday’s close, the shares were up 46% year to date.
“While 2026 hasn’t played out as we originally planned, our team has built a strong foundation for significant improvement in 2027,” Ball said.
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