Feb. 27 at 12:56 PM
$KOP has announced a new
$100 million share repurchase program, replacing its previous August 2021 program which had
$11 million remaining. The decision stems from the company's improved free cash flow profile and completed 2025 strategic plan investments.
CFO Jimmi Sue Smith highlighted that with lower anticipated capital expenditures and higher free cash flow expected in 2025 and beyond, Koppers plans to focus on debt reduction and share repurchases. The company aims to maintain its leverage within a targeted range of 2-3 times net debt to adjusted EBITDA by end-2025.
The repurchase program has no termination date and can be suspended anytime, with implementation decisions based on market conditions, legal requirements, and business considerations.