Koppers Holdings Inc. [KOP] has reported a net loss of $89.8 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $2.2 billion
Based in PITTSBURGH, Pennsylvania, Koppers Holdings Inc. operates in the MANUFACTURING sector.
In the year ended December 31, 2023, Koppers reported a significant increase in net sales of $2.1542 billion compared to $1.9805 billion in the previous year, reflecting a growth trajectory in revenue.
Cost of sales for the same period also increased to $1.7297 billion from $1.6359 billion. This rise in cost of goods sold indicates higher expenses related to production and procurement activities to support the increased sales volume.
Operating profit showed a substantial improvement, reaching $195.2 million in 2023 compared to $137.7 million in the previous year.
Net income attributable to Koppers saw a notable increase to $89.2 million in 2023 from $63.4 million in the prior year. This growth in net income reflects the company's effective cost management and revenue generation strategies.
Earnings per basic common share for the year 2023 stood at $4.28, marking a rise from $3.05 in the previous year. Similarly, diluted earnings per share increased to $4.14 in 2023 compared to $2.98 in the prior year, indicating more profitability per outstanding share.
Overall, Koppers demonstrated a strong financial performance in the year 2023, as evidenced by the growth in revenue, net income, and earnings per share compared to the previous year.
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