Koppers Holdings Inc. (NYSE:KOP) Q1 2019 Earnings Conference Call - Final Transcript

May 03, 2019 • 11:00 am ET

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Koppers Holdings Inc. (NYSE:KOP) Q1 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good morning, ladies and gentlemen. Thank you for standing by. Welcome to Koppers First Quarter 2019 Earnings Conference Call. At this time, all participants are in a listen-only mode. (Operator Instructions) Following the presentation, instructions will be given for question-and-answer session. Please note that this event is being recorded.

I would now like to turn the call over to Quynh Mcguire. Please go ahead.

Executive
Quynh Mcguire

Thanks and good morning. I'm Quynh Mcguire, Director of Investor Relations and Corporate Communications. Welcome to our first quarter 2019 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've 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 3, 2019.

Before we get started, I would like to direct your attention to our forward-looking disclosure statements. Certain comments made during this conference call may be characterized as forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of assumptions, risks and uncertainties, including risks described in the cautionary statement included in our press release and in our Company's filings with the Securities and Exchange Commission.

In light of the significant uncertainties inherent in the forward-looking statements, included in the company's comments, you should not regard the inclusion of such information as a representation that its objectives, plans and projected results will be achieved. The Company's actual results, performance or achievements may differ materially from those expressed in or implied by such forward-looking statements. The Company assumes no obligation to update any forward-looking statements made during this call.

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.

Joining me for our call today are Leroy Ball, President and CEO of Koppers; and Mike Zugay, Chief Financial Officer and Treasurer. I'll now turn this call over to Leroy.

Executive
Leroy Ball

Thank you, Quynh. Welcome everyone to our first quarter 2019 earnings call. I'm pleased to report that for the March quarter, we withstood several challenges and still posted results within the range of our expectations. From January through March, the Eastern and Southern US experienced below average temperatures overall and the resulting weather wreaked havoc on both our supply chain and our end markets. That made for a challenging beginning to the construction season and the incessantly wet weather has made it difficult to build untreated crosstie inventories, while also having some impact on utility pole demand.

In our railroad products and services business, the strong commercial crosstie market led to better pricing as well as compensated for