SunCoke Energy reports lower net income in Q2

Tuesday, 30 July 2019 21:54:49 (GMT+3)   |   San Diego
       

SunCoke Energy, Inc. today reported results for the second quarter 2019. Net income totaled $2.3 million, down from $4.2 million in the second quarter of 2018. Revenues in Q2 2019 totaled $407.5 million, compared to $367.0 million in the prior year quarter.

In the domestic coke segment, revenues totaled $378.0 million in Q2, compared to $328.7 million in Q2 2018, with sales volumes totaling 1.03 million tons compared to 1.01 million tons in Q2 2018. Adjusted EBITDA in Q2 2019 totaled $56.3 million, compared to $52.9 million in Q2 2018.

In the Brazil coke segment, revenues and adjusted EBITDA were $10.0 million and $4.3 million, respectively, during the second quarter 2019, which was slightly lower than revenues and adjusted EBITDA of $10.2 million and $4.8 million, respectively, during the second quarter 2018. The company said in a statement that the decreases were driven by unfavorable foreign currency adjustments.

As for an outlook, the company said domestic coke production is expected to be approximately 4.1 million tons for the year, while annual adjusted EBITDA is expected to be between $226 to $232 million.


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