SunCoke Energy(SXC) - 2025 Q1 - Quarterly Report

Filing Information This section provides key administrative details of the Quarterly Report on Form 10-Q for SunCoke Energy, Inc., including filing period, commission number, and outstanding shares - The document is a Quarterly Report on Form 10-Q for SUNCOKE ENERGY, INC., covering the quarterly period ended March 31, 2025[2] - The company is registered under Commission File Number: 001-35243 and is classified as a large accelerated filer[2][4] - As of April 25, 2025, there were 84,651,097 shares of the Registrant's Common Stock outstanding[4] Cautionary Statement Concerning Forward-Looking Statements This section outlines the nature of forward-looking statements within the report, emphasizing inherent risks and uncertainties that could cause actual results to differ materially - This report contains forward-looking statements covered by safe harbor provisions, based on management's beliefs and assumptions, not guarantees of future performance[8] - Actual results may differ materially due to various risks and uncertainties, and the company has no obligation to update these statements unless required by law[9] - Key risk factors include impacts of international conflicts, inflation, trade regulations, volatility in the steel and coal industries, changes in coke/coal supply and demand, customer financial hardship, operational performance, environmental compliance, debt covenants, competition from alternative technologies, and IT infrastructure disruptions[10][11][14] PART I – FINANCIAL INFORMATION This part presents the company's unaudited consolidated financial statements and management's discussion and analysis for the quarter ended March 31, 2025 Item 1. Consolidated Financial Statements This section presents the unaudited consolidated financial statements for SunCoke Energy, Inc. for the three months ended March 31, 2025 and 2024, including statements of income, comprehensive income, balance sheets, cash flows, and equity, along with detailed notes explaining various financial components and accounting policies Consolidated Statements of Income (Unaudited) This statement provides a summary of the company's revenues, expenses, and net income for the three months ended March 31, 2025 and 2024 | Metric | 3 Months Ended March 31, 2025 (Millions USD) | 3 Months Ended March 31, 2024 (Millions USD) | Change (Millions USD) | | :-------------------------------- | :--------------------------------------- | :--------------------------------------- | :------------------ | | Sales and other operating revenue | 436.0 | 488.4 | (52.4) | | Total costs and operating expenses | 405.8 | 453.9 | (48.1) | | Operating income | 30.2 | 34.5 | (4.3) | | Net income | 19.4 | 21.1 | (1.7) | | Net income attributable to SunCoke Energy, Inc. | 17.3 | 20.0 | (2.7) | | Basic EPS | 0.20 | 0.24 | (0.04) | | Diluted EPS | 0.20 | 0.23 | (0.03) | Consolidated Statements of Comprehensive Income (Unaudited) This statement details the net income and other comprehensive income components for the three months ended March 31, 2025 and 2024 | Metric | 3 Months Ended March 31, 2025 (Millions USD) | 3 Months Ended March 31, 2024 (Millions USD) | | :------------------------------------------ | :--------------------------------------- | :--------------------------------------- | | Net income | 19.4 | 21.1 | | Other comprehensive income (loss) | 0.2 | (0.1) | | Comprehensive income | 19.6 | 21.0 | | Comprehensive income attributable to SunCoke Energy, Inc. | 17.5 | 19.9 | Consolidated Balance Sheets This statement presents the company's assets, liabilities, and equity as of March 31, 2025, and December 31, 2024 | Metric | March 31, 2025 (Millions USD) | December 31, 2024 (Millions USD) | Change (Millions USD) | | :-------------------------------- | :-------------------------------- | :-------------------------------- | :------------------ | | Total current assets | 495.8 | 474.6 | 21.2 | | Total assets | 1,668.4 | 1,668.2 | 0.2 | | Total current liabilities | 206.3 | 205.8 | 0.5 | | Total liabilities | 953.9 | 957.2 | (3.3) | | Total SunCoke Energy, Inc. stockholders' equity | 684.6 | 680.2 | 4.4 | | Total equity | 714.5 | 711.0 | 3.5 | Consolidated Statements of Cash Flows (Unaudited) This statement summarizes the cash inflows and outflows from operating, investing, and financing activities for the three months ended March 31, 2025 and 2024 | Metric | 3 Months Ended March 31, 2025 (Millions USD) | 3 Months Ended March 31, 2024 (Millions USD) | Change (Millions USD) | | :------------------------------------ | :--------------------------------------- | :--------------------------------------- | :------------------ | | Net cash provided by operating activities | 25.8 | 10.0 | 15.8 | | Net cash used in investing activities | (4.6) | (15.1) | 10.5 | | Net cash used in financing activities | (17.1) | (14.9) | (2.2) | | Net increase (decrease) in cash and cash equivalents | 4.1 | (20.0) | 24.1 | | Cash and cash equivalents at end of period | 193.7 | 120.1 | 73.6 | Consolidated Statements of Equity (Unaudited) This statement outlines changes in equity attributable to SunCoke Energy, Inc. and noncontrolling interests for the periods presented | Metric | March 31, 2025 (Millions USD) | December 31, 2024 (Millions USD) | | :------------------------------------ | :-------------------------------- | :-------------------------------- | | Total SunCoke Energy, Inc. stockholders' equity | 684.6 | 680.2 | | Noncontrolling interest | 29.9 | 30.8 | | Total equity | 714.5 | 711.0 | | Metric | March 31, 2024 (Millions USD) | December 31, 2023 (Millions USD) | | :------------------------------------ | :-------------------------------- | :-------------------------------- | | Total SunCoke Energy, Inc. stockholders' equity | 623.0 | 614.2 | | Noncontrolling interest | 30.2 | 31.3 | | Total equity | 653.2 | 645.5 | Notes to the Consolidated Financial Statements This section provides detailed explanations and disclosures supporting the consolidated financial statements, covering accounting policies and specific financial components 1. General This note provides an overview of SunCoke Energy's business, including its cokemaking and logistics operations - SunCoke Energy is the largest independent producer of high-quality coke in the Americas, with over 60 years of experience, primarily selling blast furnace coke under long-term, take-or-pay agreements[31] - The company operates five U.S. cokemaking facilities (4.2 million tons/year capacity) and one in Brazil (1.7 million tons/year capacity) for ArcelorMittal Brasil S.A., utilizing heat recovery technology to produce steam or electricity[31] - Its logistics business provides material handling and mixing services with terminals capable of mixing/transloading over 40 million tons annually and storing approximately 3 million tons[32] 2. Inventories This note details the composition and value of the company's inventories as of March 31, 2025, and December 31, 2024 | Inventory Component | March 31, 2025 (Millions USD) | December 31, 2024 (Millions USD) | | :------------------ | :-------------------------------- | :-------------------------------- | | Coal | 136.4 | 109.3 | | Coke | 15.6 | 13.9 | | Materials, supplies and other | 57.7 | 57.6 | | Total inventories | 209.7 | 180.8 | [3. Intangible Assets](index=13&type=section&id=3.%20Intangible%2