SunCoke Energy, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>SunCoke Energy, Inc. has filed its Q1 2024 10-Q report, detailing financial performance and operational status.</b>

AI Summary

SunCoke Energy, Inc. (SXC) filed a Quarterly Report (10-Q) with the SEC on May 1, 2024. SunCoke Energy, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of 2024. The company's fiscal year ends on December 31st. SunCoke Energy, Inc. is classified under "STEEL WORKS, BLAST FURNACES ROLLING MILLS (COKE OVENS)" with SIC code 3312. The filing was made on May 1, 2024.

Why It Matters

For investors and stakeholders tracking SunCoke Energy, Inc., this filing contains several important signals. This 10-Q filing provides investors and analysts with the latest quarterly financial data, enabling them to assess the company's performance and make informed investment decisions. Understanding the company's financial health and operational segments, as detailed in this report, is crucial for evaluating its position within the steel and coke industry.

Risk Assessment

Risk Level: low — SunCoke Energy, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant deviations from typical disclosures.

Analyst Insight

Review the detailed financial statements and segment information within the 10-Q to understand SunCoke Energy's Q1 2024 performance and outlook.

Key Numbers

• 2024 Q1 — Reporting Period (The first quarter of 2024)
• 2024-03-31 — As of Date (The end of the reporting period)
• 2024-05-01 — Filed As Of Date (The date the report was submitted to the SEC)

Key Players & Entities

• SunCoke Energy, Inc. (company) — Filer and subject of the report
• 2024-03-31 (date) — Reporting period end date
• 2024-05-01 (date) — Filing date
• 3312 (industry_code) — Standard Industrial Classification for the company

FAQ

Industry Context

SunCoke Energy operates in the steel works, blast furnaces, and rolling mills sector, specifically focusing on coke ovens.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded companies, including the filing of quarterly 10-Q reports.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow.
2. Examine any disclosed risk factors or management discussion and analysis.
3. Compare key performance indicators with previous periods and industry benchmarks.

Key Dates

• 2024-03-31: Quarterly Period End — Marks the end of the reporting period for the 10-Q filing.
• 2024-05-01: Filing Date — The date SunCoke Energy, Inc. submitted its 10-Q to the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, following the 2023 annual report.

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share SXC New York Stock Exchange

Filing Documents

• sxc-20240331.htm (10-Q) — 926KB
• sxcex22110-q2024q1.htm (EX-22.1) — 23KB
• sxcex31110-q2024q1.htm (EX-31.1) — 10KB
• sxcex31210-q2024q1.htm (EX-31.2) — 9KB
• sxcex32110-q2024q1.htm (EX-32.1) — 5KB
• sxcex32210-q2024q1.htm (EX-32.2) — 5KB
• sxcex95110-q2024q1.htm (EX-95.1) — 48KB
• 0001514705-24-000008.txt (&nbsp;) — 4867KB
• sxc-20240331.xsd (EX-101.SCH) — 36KB
• sxc-20240331_cal.xml (EX-101.CAL) — 55KB
• sxc-20240331_def.xml (EX-101.DEF) — 143KB
• sxc-20240331_lab.xml (EX-101.LAB) — 394KB
• sxc-20240331_pre.xml (EX-101.PRE) — 280KB
• sxc-20240331_htm.xml (XML) — 629KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Consolidated Financial Statements

Item 1. Consolidated Financial Statements 1 Consolidated Statements of Income (Unaudited) For the Three Months Ended March 31, 2024 and 2023 1 Consolidated Statements of Comprehensive Income (Unaudited) For the Three Months Ended March 31, 2024 and 2023 2 Consolidated Balance Sheets at March 31, 2024 (Unaudited) and December 31, 2023 3 Consolidated Statements of Cash Flows (Unaudited) For the Three Months Ended March 31, 2024 and 2023 4 Consolidated Statements of Equity (Unaudited) For the Three Months Ended March 31, 2024 and 2023 5 Notes to the Consolidated Financial Statements 6 1. General 6 2. Inventories 6 3. Intangible Assets 7 4. Income Taxes 7 5. Accrued Liabilities 7 6. Debt 8 7. Commitments and Contingent Liabilities 8 8. Share-Based Compensation 9 9. Earnings per Share 11 10. Fair Value Measurement 11 11. Revenue from Contracts with Customers 12 12. Business Segment Information 13

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 16

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 23

Controls and Procedures

Item 4. Controls and Procedures 23

– OTHER INFORMATION

PART II – OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 24

Risk Factors

Item 1A. Risk Factors 24

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 24

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 24

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 24

Other Information

Item 5. Other Information 24

Exhibits

Item 6. Exhibits 25

Signatures

Signatures 26 Table of Contents CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS We have made forward-looking statements in this Quarterly Report on Form 10-Q, including, among others, in the sections entitled "Risk Factors," "Quantitative and Qualitative Disclosures About Market Risk" and "Management's Discussion and Analysis of Financial Condition and Results of Operations." We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained 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 include all statements that are not historical facts and may be identified by the use of forward-looking terminology such as the words "believe," "expect," "plan," "intend," "anticipate," "estimate," "predict," "potential," "continue," "may," "will," "should" or the negative of these terms or similar expressions. Such forward-looking statements are based on management's beliefs, expectations and assumptions based upon information currently available, and include, but are not limited to, statements concerning our possible or assumed future results of operations, business strategies, financing plans, competitive position, potential growth opportunities (including, among other things, continued expansion into the foundry coke market), the influence of competition, and the effects of future legislation or regulations. In addition, statements in this Quarterly Report on Form 10-Q concerning future dividend declarations are subject to approval by our Board of Directors and will be based upon circumstances then existing. Forward-looking statements are not guarantees of future performance, but are based upon the current knowledge, beliefs and expectations of SunCoke management, and upon assumptions by SunCoke concerning future conditions, any or all of which ultimately may prove to be inaccurate. Forward-looki

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Consolidated Financial Statements

Item 1. Consolidated Financial Statements SunCoke Energy, Inc. Consolidated Statements of Income (Unaudited) Three Months Ended March 31, 2024 2023 (Dollars and shares in millions, except per share amounts) Revenues Sales and other operating revenue $ 488.4 $ 487.8 Costs and operating expenses Cost of products sold and operating expenses 402.2 402.0 Selling, general and administrative expenses 18.4 18.8 Depreciation and amortization expense 33.3 35.3 Total costs and operating expenses 453.9 456.1 Operating income 34.5 31.7 Interest expense, net 6.3 7.2 Income before income tax expense 28.2 24.5 Income tax expense 7.1 6.8 Net income 21.1 17.7 Less: Net income attributable to noncontrolling interests 1.1 1.4 Net income attributable to SunCoke Energy, Inc. $ 20.0 $ 16.3 Earnings attributable to SunCoke Energy, Inc. per common share: Basic $ 0.24 $ 0.19 Diluted $ 0.23 $ 0.19 Weighted average number of common shares outstanding: Basic 85.0 84.5 Diluted 85.3 84.9 (See accompanying notes to the consolidated financial statements) 1 Table of Contents SunCoke Energy, Inc. Consolidated Statements of Comprehensive Income (Unaudited) Three Months Ended March 31, 2024 2023 (Dollars in millions) Net income $ 21.1 $ 17.7 Other comprehensive income (loss): Reclassifications of prior service benefit and actuarial loss amortization to earnings, net of tax 0.1 0.1 Currency translation adjustment ( 0.2 ) 0.1 Comprehensive income 21.0 17.9 Less: Comprehensive income attributable to noncontrolling interests 1.1 1.4 Comprehensive income attributable to SunCoke Energy, Inc. $ 19.9 $ 16.5 (See accompanying notes to the consolidated financial statements) 2 Table of Contents SunCoke Energy, Inc. Consolidated Balance Sheets March 31, 2024 December 31, 2023 (Unaudited) (Dollars in millions, except par value amounts) Assets Cash and cash equivalents $ 120.1 $ 140.1 Receivables, net 110.9 88.3 Inventories 188.2 182.6 Income tax r