Koppers Holdings Inc. (NYSE: KOP) released its audited 2025 Annual Report and Letter to Shareholders on March 31 2026, filing the document with the U.S. Securities and Exchange Commission on March 27 2026. The report details the company’s performance for the year ended December 31 2025 and is available on Koppers’ Investor Relations website and the SEC’s EDGAR database.
Full‑year revenue fell 10.17% to $1.88 billion, a decline from $2.09 billion in 2024. Adjusted earnings per share were $4.07, down from $4.11 in 2024 and $4.36 in 2023. The revenue drop reflects weaker demand in the company’s core segments, while the modest EPS decline is largely attributable to higher operating costs and a shift in product mix toward lower‑margin items.
Segment performance in the fourth quarter of 2025 showed RUPS net sales at $208.7 million, down from $215.6 million a year earlier, and PC net sales at $127.8 million versus $147.9 million in the prior year quarter. These declines are consistent with the overall revenue contraction and highlight headwinds in the railroad and utility products markets.
Koppers’ adjusted EBITDA for 2025 was $256.7 million, representing a 13.7% margin—the second‑highest on record. Management attributes the margin resilience to the “Catalyst transformation program,” which is expected to deliver benefits through portfolio streamlining, workforce resizing, and network optimization, even as the company navigates a challenging market environment.
For 2026, Koppers projects consolidated sales of $1.9 billion to $2.0 billion and adjusted EBITDA of $250 million to $270 million, signaling confidence in maintaining profitability while pursuing growth opportunities.
The 2025 Annual Report also notes the termination of the company’s largest U.S. qualified pension plan in February 2025 and a dividend increase announced in February 2025, underscoring Koppers’ commitment to shareholder returns while managing its capital structure.
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