Welcome to our dedicated page for Suncoke Energy news (Ticker: SXC), a resource for investors and traders seeking the latest updates and insights on Suncoke Energy stock.
SunCoke Energy, Inc. reports developments as an independent producer of high-quality coke and an industrial services provider for steel, coke, coal, power and other bulk-material customers. Its coke is used in blast furnace steelmaking and foundry production of cast iron, with a majority of sales under long-term, take-or-pay contracts and additional exports to overseas blast furnace customers.
Recurring news for SXC includes quarterly earnings, guidance, cash dividends, cokemaking supply agreements, facility operations and Industrial Services activity. Updates also address heat-recovery cokemaking technology that captures excess heat for steam or electrical power generation, material handling and transloading services, slag handling, scrap and raw-material preparation, and leadership and governance announcements.
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SunCoke Energy (NYSE: SXC) and Cleveland-Cliffs have extended their contract for a further 12 years, under which SunCoke will supply 1.22 million tons of metallurgical coke annually from its Indiana Harbor facility. This renewal solidifies their long-term partnership, with key provisions mirroring those of the existing agreement. The Indiana Harbor operation is SunCoke's largest U.S. facility and has been pivotal since its establishment in 1998, utilizing advanced heat recovery technology. This contract extension is expected to enhance the future viability of the Indiana Harbor facility, reinforcing its role in supplying coke for steel production.
SunCoke Energy, Inc. (NYSE: SXC) will release its Q1 2023 financial results on May 4, 2023, before market opening. The company will host a quarterly earnings call at 11:00 am ET on the same day, providing investors an opportunity to engage through a live webcast. SXC specializes in supplying high-quality coke for steel production, primarily under long-term contracts. The company operates multiple facilities across the U.S. and Brazil, employing innovative heat-recovery technology for efficient production. Additionally, SXC's logistics operations can handle over 40 million tons of material annually, supporting both domestic and international markets.
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SunCoke Energy (SXC) reported record financial performance for FY 2022, with net income reaching $100.7 million or $1.19 per share. The fourth quarter net income was $11.8 million, down from $12.7 million year-over-year. Full-year consolidated Adjusted EBITDA was $297.7 million, with a fourth quarter of $58.9 million. Operating cash flow stood at $208.9 million. The company expects 2023 Adjusted EBITDA between $250 million and $265 million and plans capital expenditures of $95 million. The positive outlook is tempered by anticipated weaker export market conditions.
SunCoke Energy, Inc. (NYSE: SXC) declared a cash dividend of $0.08 per share, scheduled for payment on March 1, 2023. This dividend will benefit stockholders on record as of the close of business on February 16, 2023. SunCoke specializes in providing high-quality coke for steel production and operates facilities across the U.S. and Brazil. The company utilizes advanced heat-recovery technology and has over 60 years of experience in cokemaking. It also offers logistics services, capable of handling over 40 million tons of material annually, serving both domestic and international markets.