SunCoke Energy(SXC) - 2025 Q3 - Quarterly Results

Financial Performance - Third quarter 2025 net income attributable to SunCoke Energy, Inc. was $22.2 million, a decrease of $8.5 million from $30.7 million in the prior year period [4]. - Consolidated Adjusted EBITDA for the third quarter 2025 was $59.1 million, down from $75.3 million in the same period last year, reflecting a decrease of $16.2 million [4]. - Revenues for the third quarter 2025 were $487.0 million, a decrease of $3.1 million compared to $490.1 million in the prior year period [5]. - The operating income for the three months ended September 30, 2025, was $13.4 million, down from $47.2 million in the prior year, indicating a decline of approximately 71.5% [29]. - Net income attributable to SunCoke Energy, Inc. for the nine months ended September 30, 2025, was $41.4 million, compared to $72.2 million for the same period in 2024, reflecting a decrease of about 42.6% [29]. - Adjusted EBITDA for Q3 2025 was $59.1 million, down 21.5% from $75.3 million in Q3 2024 [38]. - Net income for Q3 2025 was $23.8 million, a decline of 28.5% from $33.3 million in Q3 2024 [38]. Revenue Segments - Domestic Coke segment revenues decreased by $46.1 million to $413.8 million, primarily due to lower pricing and volumes [10]. - Industrial Services segment revenues increased by $42.7 million to $64.1 million, driven by the addition of Phoenix Global results [14]. - Domestic Coke production volumes for Q3 2025 were 982,000 tons, a decrease of 4.8% compared to 1,031,000 tons in Q3 2024 [35]. - Domestic Coke sales volumes for Q3 2025 were 951,000 tons, down 7.4% from 1,027,000 tons in Q3 2024 [35]. - Industrial Services revenue for Q3 2025 was $64.1 million, an increase of 199.1% from $21.4 million in Q3 2024 [35]. - Logistics tons handled in Q3 2025 were 5,235,000 tons, a decrease of 10.4% from 5,843,000 tons in Q3 2024 [35]. Guidance and Projections - The full-year 2025 Consolidated Adjusted EBITDA guidance has been updated to a range of $220 million to $225 million [4]. - The company expects Domestic Coke total production to be approximately 3.9 million tons for 2025 [22]. - Capital expenditures for 2025 are projected to be approximately $70 million [22]. - Operating cash flow is estimated to be between $62 million and $72 million for 2025 [22]. - Estimated Adjusted EBITDA for 2025 is projected to be between $220.0 million and $225.0 million [41]. Cash Flow and Debt - Cash and cash equivalents decreased to $80.4 million as of September 30, 2025, from $189.6 million at the end of 2024, representing a decline of approximately 57.6% [31]. - Long-term debt increased to $691.1 million as of September 30, 2025, up from $492.3 million at the end of 2024, indicating a rise of about 40.4% [31]. - The company reported capital expenditures of $43.0 million for the nine months ended September 30, 2025, compared to $48.1 million in the same period of 2024 [33]. - SunCoke Energy acquired Phoenix Global for $271.5 million, net of cash acquired, impacting cash flows significantly in the investing activities [33]. - The company paid dividends totaling $31.2 million during the nine months ended September 30, 2025, compared to $27.5 million in the same period of 2024 [33]. Integration and Synergies - The integration of Phoenix Global is progressing well, with expected synergies to begin in 2026 [3]. - Restructuring costs related to the acquisition of Phoenix Global amounted to $3.0 million in Q3 2025 [38]. Asset Growth - Total assets increased to $1,932.0 million as of September 30, 2025, from $1,668.2 million at the end of 2024, reflecting a growth of approximately 15.8% [31].