SunCoke Energy (SXC) Q1 2025 Earnings Call April 30, 2025 11:00 AM ET Company Participants Shantanu Agrawal - VP of Finance & TreasurerKatherine Gates - President & CEOMark Marinko - SVP & CFO Conference Call Participants Nick Giles - Senior Research AnalystNathan Martin - Equity Research Analyst Operator Good day, and welcome to the SunCoke Energy Q1 twenty twenty five Earnings Conference Call. All participants will be in listen only mode. After today's presentation, there will be an opportunity to ask que ...

Financial Data and Key Metrics Changes - SunCoke Energy reported consolidated adjusted EBITDA of $59.8 million for Q1 2025, down from $67.9 million in the prior year period, primarily due to lower economics on the Granite City contract extension and lower spot blast coke sales volumes [9][11][12] - Net income attributable to SunCoke was $0.20 per share in Q1 2025, a decrease of $0.03 compared to the prior year [11] - The company ended the quarter with a strong liquidity position of $543.7 million, including a cash balance of $193.7 million and a fully undrawn revolver of $350 million [10][15] Business Line Data and Key Metrics Changes - Domestic coke adjusted EBITDA was $49.9 million with sales volumes of 898,000 tons, impacted by lower economics and volumes at Granite City due to the contract extension [12] - The logistics business generated adjusted EBITDA of $13.7 million, an increase from $13 million in the prior year, driven by higher transloading volumes [13][14] Market Data and Key Metrics Changes - The spot glass coke pricing environment remains highly challenged, but demand for coke is present, with all spot blast and foundry coke sales finalized for the full year [9] - The company reaffirmed its full-year consolidated adjusted EBITDA guidance range of $210 million to $225 million [11][18] Company Strategy and Development Direction - The company is focused on maintaining strong safety and environmental performance while executing its operating and capital plans [16] - SunCoke is pursuing growth opportunities beyond the GPI project, emphasizing disciplined capital allocation to reward long-term shareholders [17][24] - The Granite City coke supply agreement with U.S. Steel has been extended through September 30, 2025, with an option for further extension [10] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the uncertain and volatile outlook for the steel industry but stated that coke production and sales plans remain on track [12] - The company expects to see improved margins in the second half of the year as contracts are adjusted and spot exposure increases [21][22] - Management remains cautious regarding capital expenditures, indicating a likelihood of not spending the previously planned $65 million due to current uncertainties [31][32] Other Important Information - A dividend of $0.12 per share is payable to shareholders on June 2, 2025 [9] - The company spent $4.9 million on capital expenditures in Q1 2025 [15] Q&A Session Summary Question: Annual guidance implies an uplift in quarterly adjusted EBITDA; can you discuss the cadence? - Management indicated that lower EBITDA in Q1 was expected due to contract timing, with expectations for improved performance in the second half of the year [20][21][22] Question: What are the capital allocation priorities beyond the GPI project? - Management emphasized a disciplined approach to identifying profitable growth opportunities while maintaining dividends to reward shareholders [24][25] Question: What drove the inventory build on the coal side? - The inventory build was attributed to seasonal factors and the new coal blend at the beginning of the year, with expectations for reversal later in the year [27][28] Question: Can you provide insights on the health of the foundry and export coke markets? - Management noted that while the market is challenging, they are closely monitoring conditions and have made strategic decisions to sell early in the year [36][37] Question: What drove the higher EBITDA per ton in the Domestic Coke segment? - The higher EBITDA per ton was influenced by the absence of lower-margin blast coke sales in Q1, with expectations to revert to guidance levels later in the year [40] Question: Was the lower production from Haverhill planned? - Yes, the lower production was planned and accounted for in the full-year guidance due to challenges in the spot coke market [41]

中新社福州4月30日电 (记者 刘育英)装备、矿山、钢铁、汽车、服装、轻工......在第八届数字中国建设 峰会展示的案例中，人工智能、工业互联网、云计算等数字技术与制造业的融合向深向实，正在重塑制 造业的生产运营模式。 中国联通董事长陈忠岳指出，中国联通依托工业互联网研究院和智慧轻工军团等力量服务三千余家福建 企业，形成福州福清、泉州晋江等17个产业集群，带动制造业数字化转型链式协同。 数智技术将把制造业带到何方？中国移动总经理何飚表示，人工智能深度嵌入研发设计、生产制造、营 销服务、运营管理全链条，加速形成"模型即服务"等新生产平台，创建"数字孪生"等新生产形式，推动 企业生产要素、劳动工具、组织体系发生深刻变革。 在中国联通展区，一台具身机器人正在精准抓取和分拣桌上的小零件，吸引参展者的目光。通过机器视 觉和人工语言交互，具身智能机器人可实现目标的识别，规划自主线路，完成物体的抓取和分拣。该系 统还集成动捕套装、VR(虚拟现实)遥操，端云协同高效采集数据，通过流水线质检标注优化AI(人工智 能)训练，适用于工厂搬运等场景。 在第八届数字中国建设峰会期间，中国联通展区，一台具身机器人正在精准抓取和分拣桌上 ...

2 SunCoke Energy, Inc. Q1 2025 Earnings Conference Call Forward-Looking Statements This presentation should be reviewed in conjunction with the first quarter 2025 earnings release of SunCoke Energy, Inc. (SunCoke) and conference call held on April 30, 2025 at 11:00 a.m. ET. This presentation contains "forward-looking statements" (as defined in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended). Forward-looking statements often may be ide ...

The Convertible Note matures on April 29, 2027, and is convertible at MAXIM's election into common shares of Valory upon a convertible event, being a sale, equity raise or maturity and converts at a 30% discount to the corresponding share valuation at the event. Summit was sold with $2.2 million of restricted cash, resulting in net cash proceeds to MAXIM of $8.0 million. The Convertible Note may be redeemed by Valory at any time. On April 29, 2025, MAXIM and Summit entered into an agreement such that MAXIM ...

A wind farm seen in Hulunbuir, Inner Mongolia autonomous region. WANG ZHENG/FOR CHINA DAILY China's combined installed capacity of wind and solar power surpassed that of coal power for the first time by the end of the first quarter, marking a significant milestone in the country's energy transition, the National Energy Administration said. As of end-March, the installed capacity of wind power and solar power nationwide increased by 17.2 percent and 43.4 percent year-on-year, respectively, with the combined ...

Financial Data and Key Metrics Changes - Total revenues for Q1 2025 were $540.5 million, down from $651.7 million in Q1 2024, primarily due to reduced coal sales volumes and prices as well as lower transportation revenues [5] - Average coal sales price per ton decreased by 6.9% year-over-year to $60.29, but increased by 0.5% sequentially [5] - Net income for Q1 2025 was $74 million, compared to $158.1 million in Q1 2024, reflecting lower coal sales volumes and realized prices [11] - Adjusted EBITDA for Q1 2025 was $159.9 million [11] - Total debt outstanding was $484.1 million, with total liquidity at $514.3 million [12] Business Line Data and Key Metrics Changes - Total coal production in Q1 2025 was 8.5 million tons, a decrease of 7.2% compared to Q1 2024, while coal sales volumes decreased by 10.4% to 7.8 million tons [5][6] - In the Illinois Basin, coal sales price per ton decreased by 4.2%, while in Appalachia, it decreased by 8.5% [5] - Segment adjusted EBITDA expense per ton sold for coal operations was $42.75, an increase of 4.7% year-over-year [7] Market Data and Key Metrics Changes - The domestic market strengthened in early 2025 due to cold weather, higher natural gas prices, and declining coal inventories, leading to increased coal consumption [19] - The company has secured commitments for an additional 17.7 million tons over the 2025 to 2028 period, with 32.5 million tons committed in price for 2025 [14] - Coal consumption in Q1 2025 was 20% higher than the previous year [69] Company Strategy and Development Direction - The company plans to prioritize domestic market contracts over new export contracts due to strong domestic demand [19] - The company is committed to maintaining a strong balance sheet and disciplined capital allocation while monitoring trade policy impacts [27] - The company expects to see cost improvements in Appalachia as mining conditions improve [18] Management's Comments on Operating Environment and Future Outlook - Management noted that the executive orders from the administration regarding coal and grid reliability are positive for the industry [21][22] - The company anticipates a material improvement in full-year costs to offset lower realized pricing in the coal business for 2025 [15] - Management expressed confidence in achieving cost guidance for Appalachia as operations improve [45] Other Important Information - The company declared a quarterly distribution of $0.70 per unit for Q1 2025, unchanged from previous quarters [12][27] - The company plans to invest in oil and gas minerals and data center infrastructure, depending on market conditions [50][56] Q&A Session Summary Question: Comments on President Trump's executive orders and coal plant retirement delays - Management indicated that most utilities served intend to take advantage of extensions for coal plants and are responsive to increased electricity demand [36][37] Question: Impact of trade policies on business - Management discussed the impact of tariff increases on steel and aluminum and the uncertainty surrounding trade policies, but noted the administration's awareness of the energy sector's importance [41][43] Question: Confidence in achieving cost per ton guidance for Appalachia - Management expressed confidence in achieving cost guidance, with improvements expected in the second half of 2025 as operations stabilize [45][46] Question: Capital allocation strategy in the current environment - Management stated that capital allocation is focused on maintenance capital for coal operations, while also evaluating growth opportunities in data center infrastructure [49][50]

甘肃能化（000552）公告，公司于2025年4月27日召开董事会，审议通过2025年度投资计划。2025年， 公司计划投资总额为62.66亿元，其中固定资产投资62.61亿元，无形资产投资516万元，大修理费1.69亿 元。固定资产投资主要包含靖煤公司33.04亿元，窑煤公司21.36亿元，新区2×1000MW火电项目8.2亿 元，总部司库建设96万元。公司计划新设一户子公司，负责建设和运营兰州新区2×1000MW火电项目管 理工作。投资计划的实施存在不确定性，敬请投资者注意风险。 ...

证券代码：600157 证券简称：永泰能源 公告编号：临 2025－028 永泰能源集团股份有限公司 2024年第四季度主要经营数据公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 根据上海证券交易所《上市公司自律监管指引第 3 号——行业信息披露》的 相关规定和要求，为方便投资者了解公司生产经营情况，现将公司 2024 年第四 季度主要经营数据公告如下： | 项 | 目 | | 发电量（亿千瓦时） | | | | 上网电量（亿千瓦时） | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 2024 年 | 同比 | 2024 年 | 同比 | 2024 年 | 同比 | 2024 年 | 同比 | | | | 第 季度 4 | 增减% | 1－4 季度 | 增减% | 第 季度 4 | 增减% | 1－4 季度 | 增减% | | 一、河南省 | | 38.4872 | 1.46 | 170.4949 | 12.44 | ...

Market Overview - The S&P 500 index experienced volatility in the first quarter, falling approximately 4.6% due to high valuations and tariff concerns, preceding a significant sell-off in April [1] Greenlight Capital Management - Greenlight Capital, now DME Capital Management, achieved an 8.2% return in the first quarter, with a bearish outlook initiated in February due to concerns over the Trump administration's policies [2][3] - The fund shifted its focus to gold and took short positions against undisclosed consumer companies, holding 36 stocks valued at nearly $1.95 billion by the end of 2024 [3] Green Brick Partners - Green Brick Partners constitutes 28% of Greenlight's portfolio and is the fund's largest position, founded by David Einhorn during the Great Recession [4] - The company owns or controls over 37,800 lots and operates in growing housing markets such as Texas, Florida, and Georgia [5] - Green Brick has shown strong performance, closing a record 1,019 units in Q4, with earnings growing at a compound annual growth rate of 39% since 2020 [6] - The stock has increased over 700% in the last five years and trades at 7 times forward earnings, despite potential risks from tariffs affecting costs [7] CONSOL Energy - CONSOL Energy, making up 7.7% of the portfolio, is a coal producer with significant operations in the Northern Appalachian Basin, particularly the Pennsylvania Mining Complex [8] - The company merged with Arch Resources to form Core Natural Resources, which operates 11 mines producing both metallurgical and thermal coal [9] - In 2024, Core Natural Resources generated over 10% of its revenue from customers in China and India, facing challenges from tariffs and a shift away from coal [10][11] Brighthouse Financial - Brighthouse Financial represents 7% of the portfolio and has performed well, with its stock up about 9% [12] - The company struggled to maintain its risk-based capital (RBC) ratio within the preferred range of 400% to 450% [13] - There are reports of management considering a sale or partial sale, with analysts suggesting that such actions could unlock significant shareholder value [14] - The investment thesis hinges on potential acquisition strategies, which could yield substantial gains if successful [15]