SunCoke Energy(SXC) - 2025 Q4 - Annual Results

Financial Performance - SunCoke reported a net loss of $44.2 million for the full-year 2025, translating to $0.52 per diluted share, and a net loss of $85.6 million, or $1.00 per diluted share, for the fourth quarter 2025[4]. - Revenues for full-year 2025 were $1,837.3 million, down $98.1 million from $1,935.4 million in 2024, primarily due to lower pricing and volumes[5]. - Net loss for 2025 was $38.8 million compared to a net income of $103.5 million in 2024[35]. - Total sales and other operating revenue for 2025 was $1,837.3 million, down from $1,935.4 million in 2024, representing a decrease of approximately 5.1%[37]. - Adjusted EBITDA for 2025 was $219.2 million, a decline from $272.8 million in 2024, reflecting a decrease of about 19.6%[40]. - Revenues for the three months ended December 31, 2025, are reported at $480.2 million, compared to $486.0 million for the same period in 2024[31]. - Net loss attributable to SunCoke Energy, Inc. for the three months ended December 31, 2025, is $85.6 million, compared to net income of $23.7 million for the same period in 2024[31]. Operational Metrics - Full-year 2025 consolidated Adjusted EBITDA was $219.2 million, with fourth quarter Adjusted EBITDA at $56.7 million, both showing a decrease compared to the prior year[4]. - Domestic Coke segment revenues decreased to $1,613.8 million in 2025 from $1,817.3 million in 2024, with Adjusted EBITDA dropping to $170.0 million from $234.7 million[10]. - Domestic Coke production volumes for 2025 were 3,749 thousand tons, down from 4,032 thousand tons in 2024, indicating a reduction of approximately 7.0%[37]. - Domestic Coke capacity utilization dropped to 93% in 2025 from 100% in 2024[37]. - Terminals handling volumes in the Industrial Services segment decreased to 20,320 thousand tons in 2025 from 22,540 thousand tons in 2024, reflecting weak market conditions[15]. Future Projections - SunCoke's 2026 Adjusted EBITDA guidance is projected to be between $230 million and $250 million, reflecting expectations for improved market conditions[4]. - Consolidated Net Income is projected to be between $25 million and $43 million[25]. - Consolidated Adjusted EBITDA is expected to range from $230 million to $250 million[25]. - Capital expenditures are projected to be between $90 million and $100 million[25]. - Operating cash flow is estimated to be between $230 million and $250 million[25]. - Net cash tax receipts are projected to be between $8 million and $12 million[25]. - Estimated Adjusted EBITDA for 2026 is projected to be between $230 million and $250 million[42]. Cash Flow and Assets - Cash and cash equivalents at the end of 2025 were $88.7 million, down from $189.6 million at the end of 2024[35]. - Net cash provided by operating activities for 2025 was $109.1 million, compared to $168.8 million in 2024, a decrease of approximately 35.3%[35]. - Total assets increased to $1,789.9 million as of December 31, 2025, from $1,668.2 million as of December 31, 2024[33]. - Long-term debt rose to $685.5 million as of December 31, 2025, compared to $492.3 million as of December 31, 2024[33]. Strategic Actions - The company extended its coke supply agreements with U.S. Steel and Cleveland-Cliffs through December 2026 and December 2028, respectively[4]. - SunCoke plans to utilize excess cash flow in 2026 for debt repayment, continued dividend distribution, and growth opportunities assessment[3]. - The acquisition of Phoenix Global contributed positively to the Industrial Services segment, which reported revenues of $187.8 million for the full year 2025, up from $104.8 million in 2024[14]. - The acquisition of Phoenix Global resulted in a cash outflow of $271.5 million in 2025[35]. - The production capacity for Domestic Coke is now approximately 3.7 million tons following the closure of the Haverhill I facility, with full utilization expected in 2026[3].