v3.26.1
Segment Information (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Summary of Segment Revenues for Significant Product Lines
Segment Revenues for Significant Product Lines
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
(Dollars in millions)
Railroad and Utility Products and Services:
Railroad treated products$147.3 $150.9 $281.5 $297.2 
Utility poles86.7 75.8 161.5 143.7 
Railroad infrastructure products and services11.9 23.7 22.9 44.5 
Total Railroad and Utility Products and Services$245.9 $250.4 $465.9 $485.4 
Performance Chemicals:
Wood preservative products and other$168.2 $150.8 $310.3 $271.7 
Carbon Materials and Chemicals:
Pitch and related products$75.0 $74.4 $145.2 $139.6 
Carbon black feedstock and distillates22.9 14.4 36.7 28.6 
Naphthalene, phthalic anhydride, and other chemicals8.1 14.8 17.3 36.0 
Total Carbon Materials and Chemicals$106.0 $103.6 $199.2 $204.2 
Total$520.1 $504.8 $975.4 $961.3 
Summary of Results of Segment Operations
Segment Expenses
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
(Dollars in millions)
Cost of sales:
Railroad and Utility Products and Services$204.2 $201.8 $380.2 $392.5 
Performance Chemicals119.3 108.6 229.5 187.6 
Carbon Materials and Chemicals87.6 80.2 170.1 161.2 
Total$411.1 $390.6 $779.8 $741.3 
Selling, general and administrative expenses:
Railroad and Utility Products and Services$17.2 $17.1 $35.5 $35.3 
Performance Chemicals14.7 15.4 29.6 30.5 
Carbon Materials and Chemicals9.0 7.0 17.5 14.8 
Total$40.9 $39.5 $82.6 $80.6 
Other (income) expense to reconcile to Adjusted EBITDA(1):
Railroad and Utility Products and Services$(1.2)$(0.1)$1.9 $0.5 
Performance Chemicals(3.5)(1.9)(12.3)4.8 
Carbon Materials and Chemicals1.8 (0.4)3.1 1.5 
Total$(2.9)$(2.4)$(7.3)$6.8 
Adjusted EBITDA:
Railroad and Utility Products and Services$25.7 $31.6 $48.3 $57.1 
Performance Chemicals37.7 28.7 63.5 48.8 
Carbon Materials and Chemicals7.6 16.8 8.5 26.7 
Total$71.0 $77.1 $120.3 $132.6 
(1)Other (income) expense amounts primarily relate to miscellaneous (income) expense and the adjustments to reconcile to adjusted EBITDA such as acquisition-related charges, LIFO inventory effects and mark-to-market commodity hedging.
Segment Adjusted EBITDA
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
(Dollars in millions)
Adjusted EBITDA:
Railroad and Utility Products and Services$25.7 $31.6 $48.3 $57.1 
Performance Chemicals37.7 28.7 63.5 48.8 
Carbon Materials and Chemicals7.6 16.8 8.5 26.7 
Items excluded from the determination of segment profit:
Acquisition inventory step-up amortization(0.5)0.0 (0.8)0.0 
Amortization of cloud-based software implementation costs
(0.7)(0.5)(1.2)(0.8)
(Loss) gain on sale of assets(0.4)0.0 3.9 0.3 
Impairment, restructuring and plant closure costs(1)
(215.8)(17.6)(223.6)(37.6)
LIFO benefit(2)
2.3 0.7 3.5 2.5 
Mark-to-market commodity hedging (losses) gains(3.0)0.7 (6.9)9.8 
Pension settlement and expense0.0 (1.2)0.0 (30.2)
Depreciation and amortization(17.9)(18.0)(37.3)(36.0)
Interest expense(15.0)(17.3)(30.0)(33.9)
Income tax benefit (provision)32.5 (7.5)31.7 (4.2)
Net (loss) income$(147.5)$16.4 $(140.4)$2.5 
(1)See Note 2 - Restructuring.
(2)The LIFO expense adjustment removes the entire impact of LIFO and effectively reflects the results as if we were on a first-in, first-out (FIFO) inventory basis.
Other Segment Disclosures
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
(Dollars in millions)
Intersegment revenues:
Performance Chemicals$8.5 $7.9 $15.7 $14.8 
Carbon Materials and Chemicals28.1 23.2 51.2 45.4 
Total$36.6 $31.1 $66.9 $60.2 
Depreciation and amortization expense:
Railroad and Utility Products and Services$8.2 $8.5 $16.4 $17.0 
Performance Chemicals4.0 4.1 8.3 7.9 
Carbon Materials and Chemicals5.7 5.4 12.6 11.1 
Total$17.9 $18.0 $37.3 $36.0 
Capital expenditures:
Railroad and Utility Products and Services$5.1 $4.2 $10.5 $9.3 
Performance Chemicals4.0 2.4 6.8 5.9 
Carbon Materials and Chemicals2.9 5.2 5.9 10.2 
Corporate0.3 0.3 0.5 1.0 
Total$12.3 $12.1 $23.7 $26.4 
Summary of Tangible and Intangible Assets by Segments
Segment Assets
June 30, 2026December 31, 2025
(Dollars in millions)
Segment assets:
Railroad and Utility Products and Services$833.5 $827.5 
Performance Chemicals557.5 536.6 
Carbon Materials and Chemicals(1)
305.1 486.7 
Corporate26.2 36.0 
Total$1,722.3 $1,886.8 
Goodwill:
Railroad and Utility Products and Services$156.5 $156.4 
Performance Chemicals172.6 173.0 
Total$329.1 $329.4 
(1)See Note 2 - Restructuring.