SunCoke Energy Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 Adjusted EBITDA was $56.5M, impacted by severe weather and equipment issues, but guidance for full-year EBITDA of $230M-$250M is reaffirmed. Industrial services saw strong growth from Phoenix and improved terminal volumes, with robust cash flow supporting dividends and debt reduction.
Fiscal Year 2025
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2025 results were impacted by one-time charges, Algoma's contract breach, and market headwinds, but strong safety, the Phoenix acquisition, and contract extensions supported stability. 2026 guidance anticipates EBITDA growth, improved market conditions, and continued deleveraging.
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Q3 2025 Adjusted EBITDA was $59.1M, with full-year guidance revised to $220–$225M due to a 200,000-ton coke sales deferral from a customer breach. Phoenix Global acquisition boosted industrial services, and a 25th consecutive dividend was announced.
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Q2 adjusted EBITDA fell to $43.6M due to lower contract coke sales and CMT volumes, but full-year guidance is reaffirmed. The $325M Phoenix Global acquisition is set to close August 1, expected to be accretive and funded by cash and revolver.
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The acquisition of Phoenix Global for $325 million will expand reach to new customers and markets, diversify earnings, and is expected to deliver $5–$10 million in annual synergies. The deal is immediately accretive, maintains leverage below targets, and positions for long-term growth.
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Q1 2025 saw strong logistics performance and solid liquidity, offsetting weaker domestic coke results due to contract and market pressures. Full-year EBITDA guidance is reaffirmed, with CapEx spending expected below plan due to cautious deferrals.
Fiscal Year 2024
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Record safety and strong 2024 financials were achieved, with Adjusted EBITDA of $272.8M and $96M free cash flow, exceeding guidance. 2025 outlook anticipates lower EBITDA due to margin compression and market headwinds, but solid liquidity and disciplined capital allocation continue.
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Adjusted EBITDA rose to $75.3M in Q3, aided by a $9.5M gain from extinguishing Black Lung liabilities. Full-year guidance was raised to $260–$270M, with logistics and liquidity both showing strong performance.
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Q2 2024 saw strong operational performance with full-capacity coke production and record logistics volumes, driving Adjusted EBITDA of $63.5 million. The company raised its dividend by 20% and expects to achieve the high end of full-year guidance, supported by robust liquidity and new business at domestic terminals.