Koppers Q2 GAAP loss of $147.5M includes $215.8M impairment; adjusted EBITDA falls 7.9%
KOP has more than doubled off its 52-week low of $25.
Summary
Koppers Q2 GAAP loss of $147.5M includes a $215.8M impairment for the Stickney shutdown. Adjusted EBITDA fell 7.9% to $71M, with the Carbon Materials segment hit hardest. Restructuring charges and a new environmental lawsuit add pressure.
Key Events · Earnings and Guidance · KOP
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Q2 GAAP Loss Driven by $215.8M Impairment
Net loss of $147.5 million, or $7.71 per share, compared to net income of $16.4 million a year ago. The loss includes $215.8 million in impairment and restructuring charges, primarily from the decision to discontinue distillation and chemical manufacturing at the Stickney, Illinois facility.
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Adjusted EBITDA Declines 7.9%
Adjusted EBITDA was $71.0 million, down from $77.1 million in Q2 2025. Carbon Materials and Chemicals adjusted EBITDA fell 54.8% to $7.6 million, while Performance Chemicals rose 31.4% to $37.7 million.
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Stickney Shutdown Expected to Cost $233M-$252M
Total pre-tax charges for the Stickney shutdown are estimated at $233 million to $252 million, including $164.6 million in impairment already recorded. Production is expected to wind down by December 31, 2026.
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Illinois AG Files Air Emissions Complaint
On June 17, 2026, the Illinois Attorney General filed a complaint alleging air emissions violations at the Stickney facility, seeking civil penalties and injunctive relief. Koppers has accrued an estimated probable penalty.
Analysis · KOP · Manufacturing
A steep GAAP loss hit Koppers this quarter, driven by a $215.8 million impairment charge tied to the planned shutdown of its Stickney, Illinois facility. Excluding that and other items, adjusted EBITDA of $71 million still fell nearly 8% from last year, with the Carbon Materials and Chemicals segment's adjusted EBITDA more than halving. The company is executing a multi-year restructuring to exit low-margin, capital-intensive operations, but the near-term cost is heavy — total expected pre-tax charges for the Stickney and phthalic anhydride shutdowns range from $283 million to $306 million. Meanwhile, the Illinois Attorney General filed an air emissions complaint against the Stickney facility in June, adding legal risk. The balance sheet remains manageable with $390 million in liquidity, but the impairment and ongoing restructuring underscore the challenges in the legacy chemicals business.
How filings like this one have moved
In the 30 days to Sep 30, 2026, 34.9% of the 1009 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.52%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, KOP was trading at $50.77 on NYSE in the Manufacturing sector, with a market capitalization of approximately $976.4M. The 52-week trading range was $25.00 to $52.25. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.