Koppers Holdings, a provider of treated wood products, reported Friday Q1 adjusted profit of $0.68 per share, up from $0.28 per share in the prior year period and came in higher than the $0.36 per share Street estimate provided by Capital IQ. Net sales were $346.6 million, practically unchanged from the revenues reported for the same period last year and higher than the $327.1 million Street estimate.
For 2017, the company now expects adjusted earnings to range from $2.80 to $3 per share on revenues of $1.4 billion. The company previously issued earnings outlook of $2.75 to $2.85 per share. The Street consensus calls for earnings of $2.82 per share on revenues of $1.4 billion. KOP shares were 4.2% higher in recent morning trade.