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.
SunCoke Energy, Inc. (NYSE: SXC) has approved a 33% increase in its quarterly cash dividend to $0.08 per share, up from $0.06. This dividend will be paid on September 1, 2022, to shareholders on record as of August 18, 2022. The company specializes in supplying high-quality coke for steel production and operates facilities across the U.S. and Brazil, leveraging over 60 years of experience. The dividend increase indicates strong financial health and confidence in ongoing operations.
SunCoke Energy (NYSE: SXC) has announced a non-binding letter of intent to acquire U.S. Steel's Granite City Works blast furnaces and construct a 2.0 million ton granulated pig iron facility. The agreement outlines processing iron ore supplied by U.S. Steel for a decade. Project assessments are ongoing, with a goal to finalize agreements soon. Construction is expected to take about two years. This move will enhance SunCoke's footprint, positioning it as a diversified supplier of coke and metallics in the steel industry.
SunCoke Energy (NYSE: SXC) reported strong Q1 2022 results with net income of $29.5 million ($0.35 per share) and an Adjusted EBITDA of $83.8 million, marking an 18.6% increase from the previous year. Revenues grew by $79.9 million to $439.8 million, driven by higher coal prices and export sales. While domestic coke production faced challenges from wet weather, this was offset by improved export margins. The company expects to exceed its full-year Adjusted EBITDA guidance of $240-$255 million due to strong commodity markets.
On May 2, 2022, SunCoke Energy, Inc. (NYSE: SXC) announced a cash dividend of $0.06 per share for its common stock. This dividend is set to be paid on June 1, 2022, to stockholders of record as of the close of business on May 18, 2022. SunCoke supplies high-quality coke utilized in steel and iron production, with operations in several U.S. states and Brazil, leveraging over 60 years of experience. The company also manages logistics for material handling, capable of processing more than 40 million tons annually.
SunCoke Energy, Inc. (NYSE: SXC) will announce its first quarter 2022 financial results on May 2, 2022, before market opening. A quarterly earnings call is scheduled for the same day at 11:30 am ET, where investors and analysts can participate via a provided link. SunCoke specializes in supplying high-quality coke used in steel production and operates multiple facilities across the U.S. and Brazil, leveraging over 60 years of experience. The company also offers logistics services, with terminals capable of handling over 40 million tons annually.
Summary not available.
SunCoke Energy (NYSE: SXC) appointed Mark W. Marinko as Senior Vice President and Chief Financial Officer effective March 7, 2022. Marinko brings over 30 years of experience in finance, having previously served as CFO at Great Lakes Dredge & Dock Corporation. His role at SunCoke includes overseeing all financial operations, reporting directly to President and CEO Mike Rippey. The leadership change is expected to enhance the company's financial management and strategic execution.
SunCoke Energy (SXC) reported a record net income of $43.4 million ($0.52/share) for 2021, up from $3.7 million in 2020. The fourth quarter also saw a turnaround with a net income of $12.7 million, compared to a loss of $5 million last year. Full-year Adjusted EBITDA reached $275.4 million, a significant increase from $205.9 million in 2020. The company projects 2022 Adjusted EBITDA between $240 million and $255 million, supported by a new contract with Algoma Steel for 150,000 tons/year. Operating cash flow for 2021 was $233.1 million, exceeding guidance.
On February 1, 2022, SunCoke Energy (NYSE: SXC) announced a cash dividend of $0.06 per share, set to be paid on March 1, 2022, to stockholders recorded by the close of business on February 17, 2022. The company primarily produces high-quality coke for domestic and international markets, supporting steel production. SunCoke leverages over 60 years of experience in cokemaking and utilizes innovative heat-recovery technology to enhance operational efficiency.
SunCoke Energy (NYSE: SXC) will announce its fourth quarter 2021 financial results and 2022 guidance on February 1, 2022, before the market opens. A quarterly earnings call will take place at 10:30 am ET on the same day. Investors can join via a link provided or access a live webcast. As a provider of high-quality coke for steel production, SunCoke operates multiple facilities across the U.S. and Brazil, utilizing advanced technology to enhance efficiency. Further details can be accessed on their website.