Suncoke Energy (SXC) Tops Q4 EPS by 5c, Revenues Beat

Suncoke Energy (NYSE: SXC) reported Q4 EPS of ($0.06), $0.05 better than the analyst estimate of ($0.11). Revenue for the quarter came in at $310.1 million versus the consensus estimate of $240.15 million.

• Our 2021 guidance is based on our Domestic Coke plants running at full capacity with uncontracted capacity filled by export sales and Foundry coke sales. It also assumes higher volumes at Logistics facilities.
• "In 2020, while dealing with the challenges presented by the COVID-19 pandemic, our Domestic Coke fleet demonstrated excellent cost discipline and delivered extraordinary results despite running at sub-optimal levels. We extended expiring contracts with our customers in exchange for providing near-term coke supply relief, delivered robust cash flows and made significant progress towards our capital allocation objectives," said Mike Rippey, President and Chief Executive Officer of SunCoke Energy, Inc. "We also implemented a company-wide cost-reduction initiative resulting in $10 million annualized savings and developed a new product line of foundry coke during this year, further positioning SunCoke for sustained success in the future."
• Looking forward, the Company expects 2021 consolidated Adjusted EBITDA to be between $215 million and $230 million, driven by our Domestic Coke plants operating at full capacity and higher volumes at Logistics.
• Net income attributable to SXC was $3.7 million, or $0.04 per share, for the full-year 2020; Net loss attributable to SXC was $5.0 million, or $0.06 per share, in the fourth quarter 2020
• Full-year 2020 consolidated Adjusted EBITDA was $205.9 million, which was above our revised guidance range of $190 million to $200 million; fourth quarter Adjusted EBITDA was $37.0 million
• Operating cash flow was $157.8 million for the full-year 2020, above our revised guidance of $116 million to $136 million
• Full-year 2021 consolidated Adjusted EBITDA is expected to be $215 million to $230 million

Rippey continued, "As we move forward in 2021, we will remain focused on executing against our objectives of excellent safety performance, operational excellence and balanced capital allocation. Additionally, we will work towards further enhancing our customer contracts and providing stability to our coke operations. We will also continue our work to optimize CMT with additional products and customers. We are committed to positioning the Company for sustained success and delivering significant value to SunCoke stakeholders."

Our 2021 guidance is as follows:

• Domestic coke total production is expected to be approximately 4.1 million tons
• Consolidated Adjusted EBITDA is expected to be $215 million to $230 million
• Capital expenditures are projected to be approximately $80 million
• Cash generated by operations is estimated to be between $160 million and $180 million
• Cash taxes are projected to be between $5 million to $10 million

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

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Evogene chairman to address dissident shareholders on results call
• SVB & T Corporation (SVBT) Tops Q2 EPS by 275c