The following is a summary of the SunCoke Energy, Inc. (SXC) Q1 2024 Earnings Call Transcript:

Financial Performance:

• SunCoke Energy's consolidated adjusted EBITDA for Q1 2024 stood at $67.9 million.

• The company reported liquidity of $470.1 million at the end of the first quarter.

• Gross leverage was approximately 1.86x on a trailing 12-month adjusted EBITDA.

• Net income attributable to SunCoke was $0.23 per share, reflecting a $0.04 increase from the previous year.

• The company expects a full-year adjusted EBITDA guidance range of $240 million to $255 million.

Business Progress:

• Throughout the quarter, SunCoke's domestic coke plants functioned at complete capacity while its logistics terminals handled 5.5 million tons.

• A rise in volumes at logistics terminals can be attributed to East Coast port congestion.

• SunCoke secured the year's spot blast and foundry coke sales that led to a strong annual start.

• The company continues to expand the Granite City GPI project.

• SunCoke is working towards growing its customer base and acquiring new business at logistics terminals.

• The CMT terminal processed 1.8 million tons of coal and is expected to achieve the take-or-pay minimum for the year.

• Due to favorable weather and low outage levels, domestic coke sales experienced strong performance within Q1.

• Despite anticipated planned outages in Q3 and Q4, the company reassures the domestic coke EBITDA guidance of $238 million to $248 million.

• The CMT terminal is projected to deliver robust long-term performance to accommodate API2 future volatility.

• SunCoke maintains a significant market share in the North American blast furnace coke sector with 30-40% market share.

• Despite the shutdown of the Granite City blast furnace, the demand expectations are consistent with previous years as the company holds a strong competitive position in the market.

More details: SunCoke Energy IR

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