(RTTNews) - Shares of treated wood products, wood treatment chemicals, and carbon compounds provider Koppers Holdings Inc. (KOP) are rising more than 21% Monday morning following better-than-expected second-quarter preliminary results.
Preliminary adjusted earnings per share from continuing operations for the second quarter were $1.27compared with $1.14 last year. Analysts polled by Thomson Reuters expected earnings of $0.73 per share.
Consolidated sales, on a preliminary basis, were $436.6 million for the second quarter compared with $443.8 million in the prior-year quarter. The consensus estimate is at $415 million.
Koppers stock is currently trading at $24.78. It has traded in the range of $8.25- $44.75 in the past 52 weeks.