Suncoke Energy (SXC) Tops Q3 EPS by 17c, Revenues Beat

Suncoke Energy (NYSE: SXC) reported Q3 EPS of $0.18, $0.17 better than the analyst estimate of $0.01. Revenue for the quarter came in at $364.5 million versus the consensus estimate of $330.25 million.

"We are pleased with our third quarter consolidated operating results in both the coke and logistics businesses. In the quarter, we continue to see significant operational improvement at Indiana Harbor driven by the diligent progress on our oven rebuild initiative, and our CMT business continues to deliver strong throughput volumes," said Mike Rippey, President and Chief Executive Officer of SunCoke Energy, Inc. "The solid performance we have achieved through the first nine months of the year has positioned us well to deliver full-year results at the top-end of our 2018 Adjusted EBITDA guidance range."

The Company continued to execute its Indiana Harbor oven rebuild initiative during the third quarter. Rippey commented, "The majority of the A-battery ovens have been rebuilt as of the end of the third quarter, and the improved operating performance has allowed us to meaningfully increase our 2018 Indiana Harbor guidance range."

Additionally, the Company will start on the last phase of our multi-year rebuild initiative, completing comprehensive rebuilds on all 57 remaining B-battery ovens in 2019. Rippey commented, "We have demonstrated our ability to dramatically improve operational performance through this rebuild process. We look forward to implementing the knowledge and resources we have honed to successfully execute the final phase of the rebuild project and generate lasting benefits for our shareholders, customer, employees, and the surrounding community."

For earnings history and earnings-related data on Suncoke Energy (SXC) click here.

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