Suncoke Energy (SXC) Tops Q3 EPS by 1c, Revenues Beat

Suncoke Energy (NYSE: SXC) reported Q3 EPS of ($0.03), $0.01 better than the analyst estimate of ($0.04). Revenue for the quarter came in at $302.2 million versus the consensus estimate of $246.55 million.

• Third quarter 2020 net loss attributable to SXC was $2.7 million, or $0.03 per share; Year-to-date 2020 net income attributable to SXC was $8.7 million, or $0.10 per share
• Adjusted EBITDA for the quarter was $47.8 million; Year-to-date 2020 Adjusted EBITDA was $168.9 million
• Reaffirming full-year 2020 Adjusted EBITDA guidance of $190 million to $200 million, which reflects previously announced near-term coke supply relief provided to customers in exchange for extending existing contracts
• On October 8, 2020, extended Haverhill II coke agreement with AK Steel for an additional two years; contract now expires on June 30, 2025

"In the third quarter, cokemaking operations performed well despite running at lowered rates. Our Domestic Coke fleet demonstrated excellent cost discipline and delivered strong results while following the CDC mandated guidelines and operating at sub-optimal rates." said Mike Rippey, President and Chief Executive Officer of SunCoke Energy Inc. "We continue to execute on our revised 2020 objectives, and the third quarter results have positioned us to achieve our full year Adjusted EBITDA guidance. Additionally, we extended the Haverhill II coke agreement with AK Steel for an additional two years, further illustrating our strong, long-term relationships with our customers."

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

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