Lisle, Illinois-based Suncoke Energy reported Q2 2013 earnings of $5.7 million, down from net income of $22.7 million in the same quarter a year ago. In Q2 2013, total revenues were down 12.4 percent to $403.7 million versus the same prior year period. In Q2, Suncoke reported a $52.55 per ton decline in average coal sales price in the coal mining segment, partly offset by higher coal sales volume.
"Our coal business continues to be a challenge, weighing down Adjusted EBITDA by nearly $12 million in the second quarter." said Fritz Henderson, Chairman and Chief Executive Officer of SunCoke Energy, Inc. "In response to industry conditions, we have made substantial progress on our coal action plan, reducing coal production costs by about $19 per ton, and we are confident in our ability to further drive down these costs. Our domestic coke business continues to deliver solid results, generating $61.3 million of Adjusted EBITDA in the quarter."
Suncoke's domestic coke revenues were $375.8 million, down 66 percent year-on-year, while revenues in the coal mining segment fell 8.1 percent from $60.8 million to $52.7 million.