SunCoke Energy reported a decrease in net income and adjusted EBITDA compared to the prior year period, primarily driven by lower contribution margin on export coke sales. However, the company reaffirmed its full-year 2023 Consolidated Adjusted EBITDA guidance and extended its Indiana Harbor coke supply agreement with Cleveland-Cliffs through September 2035.
Net income attributable to SXC was $16.3 million, or $0.19 per share, compared to $29.5 million, or $0.35 per share, in the prior year period.
Consolidated Adjusted EBITDA for the quarter was $67.1 million.
Extended Indiana Harbor coke supply agreement with Cleveland-Cliffs through September 2035.
Reaffirming full-year 2023 Consolidated Adjusted EBITDA guidance of $250 million to $265 million.
SunCoke Energy anticipates Domestic Coke total production to be approximately 4.0 million tons, Consolidated Net Income between $59 million and $76 million, Consolidated Adjusted EBITDA between $250 million and $265 million, Capital expenditures of approximately $95 million, Operating cash flow between $200 million to $215 million, and Cash taxes between $12 million to $16 million for the full year 2023.
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