SunCoke reports increased net income in Q2

Monday, 03 August 2020 20:02:06 (GMT+3)   |   San Diego
       

SunCoke Energy, Inc. today reported results for the second quarter 2020. Revenues in Q2 totaled $338.0 million, compared to $407.5 million in Q2 2019. Net income in Q2 totaled $6.5 million in Q2, compared to $2.3 million the same quarter last year.

In the domestic coke segment, revenues totaled $323.5 million, compared to $378.0 million in Q2 2019. Sales volumes totaled 977,000 tons, compared to 1.03 million tons in Q2 2019. The company said revenues declined due to the pass through of lower coal costs, which decreased revenues by $42.8 million.

In the Brazil Coke segment, revenues and adjusted EBITDA were $7.2 million and $3.2 million, respectively, during the second quarter 2020, which was lower than revenues and adjusted EBITDA of $10.0 million and $4.3 million, respectively, during the second quarter 2019, driven by lower sales volumes.

As for a 2020 outlook, the company said domestic coke production is expected to be approximately 3.75 million tons. Domestic coke Adjusted EBITDA/ton is expected to be between $53 to $54/ton. Consolidated Adjusted EBITDA is expected to be between $190 to $200 million.


Most Recent Related Articles

US residential building permits, housing starts and completions all decline in August

Nucor expects higher quarter-on-quarter earnings in Q3

US met coal producers form new Metallurgical Coal Producers Association

US iron and steel scrap exports down 12 percent in July

Iron ore shipments on the Great Lakes down 46.5 percent in July