SunCoke Energy Files Q3 2024 10-Q

TL;DR

SunCoke Energy's Q3 2024 10-Q is in: check the latest financials for steel and energy ops.

AI Summary

SunCoke Energy, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported financial results for the third quarter and the first nine months of 2024, detailing revenues, costs, and net income. Key financial data and operational highlights for these periods are presented within the filing.

Why It Matters

This filing provides investors with the latest financial performance and operational status of SunCoke Energy, crucial for understanding the company's current health and future prospects in the steel and energy sectors.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information and operational updates which can reveal both positive and negative trends, impacting investment decisions.

Key Numbers

• 2024-09-30 — Reporting Period End Date (This is the end date for the financial data presented in the 10-Q.)
• 2024-10-31 — Filing Date (Indicates when the company submitted this quarterly report to the SEC.)
• 2024 Q3 — Quarter (Specifies the fiscal quarter for which the report provides information.)

Key Players & Entities

• SunCoke Energy, Inc. (company) — Filer of the 10-Q report.
• 2024-09-30 (date) — End of the reporting period for the 10-Q.
• 2024-10-31 (date) — Date the filing was made.
• 2024-01-01 (date) — Beginning of the year-to-date reporting period.
• 2023-09-30 (date) — End of the prior year's comparable reporting period.

FAQ

Key Financial Figures

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

Filing Documents

• sxc-20240930.htm (10-Q) — 1264KB
• sxcex10110-q2024q3.htm (EX-10.1) — 71KB
• sxcex22110-q2024q3.htm (EX-22.1) — 23KB
• sxcex31110-q2024q3.htm (EX-31.1) — 10KB
• sxcex31210-q2024q3.htm (EX-31.2) — 9KB
• sxcex32110-q2024q3.htm (EX-32.1) — 5KB
• sxcex32210-q2024q3.htm (EX-32.2) — 5KB
• sxcex95110-q2024q3.htm (EX-95.1) — 48KB
• image_0.jpg (GRAPHIC) — 601KB
• 0001514705-24-000021.txt ( ) — 7094KB
• sxc-20240930.xsd (EX-101.SCH) — 44KB
• sxc-20240930_cal.xml (EX-101.CAL) — 64KB
• sxc-20240930_def.xml (EX-101.DEF) — 186KB
• sxc-20240930_lab.xml (EX-101.LAB) — 445KB
• sxc-20240930_pre.xml (EX-101.PRE) — 326KB
• sxc-20240930_htm.xml (XML) — 928KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Consolidated Financial Statements

Item 1. Consolidated Financial Statements 1 Consolidated Statements of Income (Unaudited) For the Three and Nine Months Ended September 30, 2024 and 2023 1 Consolidated Statements of Comprehensive Income (Unaudited) For the Three and Nine Months Ended September 30, 2024 and 2023 2 Consolidated Balance Sheets at September 30, 2024 (Unaudited) and December 31, 2023 3 Consolidated Statements of Cash Flows (Unaudited) For the Nine Months Ended September 30, 2024 and 2023 4 Consolidated Statements of Equity (Unaudited) For the Three and Nine Months Ended September 30, 2024 and 2023 5 Notes to the Consolidated Financial Statements 7 1. General 7 2. Inventories 7 3. Intangible Assets 8 4. Income Taxes 8 5. Accrued Liabilities 9 6. Debt 9 7. Commitments and Contingent Liabilities 9 8. Share-Based Compensation 11 9. Earnings per Share 13 10. Fair Value Measurement 14 11. Revenue from Contracts with Customers 14 12. Business Segment Information 15

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 18

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 26

Controls and Procedures

Item 4. Controls and Procedures 26

– OTHER INFORMATION

PART II – OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 28

Risk Factors

Item 1A. Risk Factors 28

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 28

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 28

Other Information

Item 5. Other Information 28

Exhibits

Item 6. Exhibits 29

Signatures

Signatures 30 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (Dollars and shares in millions, except per share amounts) Revenues Sales and other operating revenue $ 490.1 $ 520.4 $ 1,449.4 $ 1,542.6 Costs and operating expenses Cost of products sold and operating expenses 405.2 436.1 1,197.1 1,281.2 Selling, general and administrative expenses 9.6 19.1 45.8 55.3 Depreciation and amortization expense 28.1 35.5 90.1 107.2 Total costs and operating expenses 442.9 490.7 1,333.0 1,443.7 Operating income 47.2 29.7 116.4 98.9 Interest expense, net 5.7 6.6 17.8 21.0 Income before income tax expense 41.5 23.1 98.6 77.9 Income tax expense 8.2 14.6 20.9 29.7 Net income 33.3 8.5 77.7 48.2 Less: Net income attributable to noncontrolling interests 2.6 1.5 5.5 4.5 Net income attributable to SunCoke Energy, Inc. $ 30.7 $ 7.0 $ 72.2 $ 43.7 Earnings attributable to SunCoke Energy, Inc. per common share: Basic $ 0.36 $ 0.08 $ 0.85 $ 0.52 Diluted $ 0.36 $ 0.08 $ 0.85 $ 0.51 Weighted average number of common shares outstanding: Basic 85.1 84.8 85.1 84.7 Diluted 85.3 85.1 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (Dollars in millions) Net income $ 33.3 $ 8.5 $ 77.7 $ 48.2 Other comprehensive income (loss): Reclassifications of prior service benefit and actuarial loss amortization to earnings, net of tax 0.1 — 0.2 0.1 Currency translation adjustment — ( 0.3 ) ( 0.9 ) 0.2 Comprehensive income 33.4 8.2 77.0 48.5 Less: Comprehensive income attributable to noncontrolling interests 2.6 1.5 5.5 4.5 Comprehensive income attributable to SunCoke Energy, Inc. $ 30.8 $ 6.7 $ 71.5 $ 44.0 (See accompan