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Jun 30, 2023
SunCoke Q2 2023 Earnings Report
Reported record second quarter financial results, driven by strong performance from cokemaking and logistics segments.
Key Takeaways
SunCoke Energy, Inc. reported record second quarter 2023 results, driven by strong performance from the cokemaking and logistics segments. The company's domestic coke plants ran at full capacity, delivering excellent results. The board of directors approved a 25% increase in quarterly dividends.
Second quarter net income attributable to SXC was $20.4 million, or $0.24 per share.
Consolidated Adjusted EBITDA for the quarter was $74.0 million, an increase of $2.7 million versus the prior year period.
Increased quarterly dividend to 10 cents per share; a 25% increase.
Well positioned to achieve high end of full-year 2023 Consolidated Adjusted EBITDA guidance range of $250 million to $265 million.
Revenue by Segment
Forward Guidance
The company expects full-year results at the high end of its 2023 Consolidated Adjusted EBITDA guidance range of $250 million to $265 million.
Positive Outlook
- Domestic Coke total production is expected to be approximately 4.0 million tons
- Consolidated Net Income is expected to be between $59 million and $76 million
- Consolidated Adjusted EBITDA is expected to be on the high end of $250 million and $265 million
- Operating cash flow is estimated to be between $200 million to $215 million
- Capital expenditures are projected to be approximately $95 million
Challenges Ahead
- Cash taxes are projected to be between $12 million to $16 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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