Koppers Holdings Inc. (NYSE:KOP) Q1 2017 Earnings Conference Call - Final Transcript

May 05, 2017 • 11:00 am ET


Koppers Holdings Inc. (NYSE:KOP) Q1 2017 Earnings Conference Call - Final Transcript


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Good day, and welcome to the Koppers' First Quarter 2017 Earnings Conference Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Quynh McGuire. Please go ahead.

Quynh McGuire

Thank you, and good morning. My name is Quynh McGuire, and I'm the Director of Investor Relations and Corporate Communications. Welcome to our first quarter earnings conference call. We issued our quarterly earnings press release earlier today. You may access this announcement via our website at www.koppers.com.

As indicated in our earnings release this morning, we have also posted materials to the Investor Relations page of our website that will be referenced in today's call. Consistent with our practice in prior quarterly conference calls, this is being broadcast live on our website; and a recording of this call will be available on our site for replay through June 5, 2017.

(Forward-Looking Cautionary Statements) References may also be made today to certain non-GAAP financial measures. The Company has provided with its press release, which is available on our website, reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures.

I'm joined on this morning's call by Leroy Ball, President and CEO of Koppers; and Mike Zugay, Chief Financial Officer. At this time, I would like to turn the call over to Leroy Ball.

Leroy Ball

Thank you, Quynh. Welcome, everyone, to our first quarter 2017 earnings call. Now before discussing the details of our financial results, I'd like to provide an update on some key events during the March quarter. As always, let's begin with an update on our path to Zero Harm. We know that Zero Harm is about continuously improving safety and environmental performance, and we realize it's only possible by first fostering a strong culture that values feedback, connectivity, positive reinforcement and new ideas.

During the first quarter, employees from across the globe continued to participate in the first two sessions of a four-year safety leadership training series that combines coaching, skill building and engagement activities. To-date, 27 locations have completed the first two workshops, and I'm encouraged by the positive feedback we started to receive from our frontline leaders. Now recently, we issued our 2016 Corporate Sustainability Report, highlighting the achievements that we've made to protect the environment and the communities that we serve.

Now while we've printed sustainability summary brochures that are available upon request, I'd encourage everyone to visit the Sustainability section of our corporate website for our in-depth report, which highlights several areas where we've improved our environmental performance.

Overall, I'm pleased with the progress that we've made to-date to strengthen our Zero Harm culture and we'll continue to update you as we reach new milestones. Moving on to the financial results. I'm encouraged to see that our consolidated sales have stabilized after experiencing double-digit declines on a year-over-year basis for five consecutive quarters. The stabilization, which we expect to continue for the remainder of 2017, largely contribute to the significant growth in our profitability as well as