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Jun 30, 2021
SunCoke Q2 2021 Earnings Report
Reported strong results driven by robust performance in the Domestic Coke and Logistics segments.
Key Takeaways
SunCoke Energy, Inc. reported a net loss attributable to SXC of $8.8 million, or $0.11 per share, for the second quarter of 2021. Adjusted EBITDA for the quarter was $68.0 million, up 15 percent versus the prior year period. The company completed a debt refinancing, extending maturities and achieving significant interest rate savings. Full-year 2021 Adjusted EBITDA guidance was increased from $215 million - $230 million to $255 million - $265 million.
Second quarter 2021 net loss attributable to SXC was $8.8 million, or $0.11 per share, reflecting a $22.7 million impact of debt extinguishment costs related to debt refinancing.
Adjusted EBITDA for the quarter was $68.0 million, up 15 percent versus the prior year period.
Debt refinancing was completed, extending maturities and achieving interest rate savings of approximately $17 million on an annual basis.
Full-year 2021 Adjusted EBITDA guidance range was increased from $215 million - $230 million to $255 million - $265 million.
Revenue by Segment
Forward Guidance
SunCoke Energy revised its 2021 guidance based on higher margin and volume in Domestic Coke plants driven by export and foundry coke sales, and higher Logistics volumes. Consolidated Adjusted EBITDA is expected to be $255 million to $265 million.
Positive Outlook
- Domestic Coke total production is expected to be approximately 4.15 million tons.
- Consolidated Adjusted EBITDA is expected to be $255 million to $265 million.
- Capital expenditures are projected to be approximately $90 million.
- Cash generated by operations is estimated to be $208 million to $223 million.
- Cash taxes are projected to be $5 million to $10 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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