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Tuesday, May 21, 2024

SunCoke Energy, Inc. Reveals 2023 Results and 2024 Guidance

both operational and financial fronts, and believe that SunCoke is well-positioned for continued success in 2024 and beyond.”

In the fourth quarter of 2023, SunCoke reported a net income of $24.7 million, or $0.35 per share, compared to a net income of $10.5 million, or $0.15 per share, in the same period last year. Adjusted EBITDA for the quarter was $77.6 million, an increase of $21.7 million compared to the prior year period. The company’s full year 2023 net income was $95.1 million, or $1.34 per share, compared to net income of $25.9 million, or $0.37 per share, for the full year 2022. Full year 2023 adjusted EBITDA was $292.0 million, an increase of $78.8 million compared to the prior year.

In terms of operational performance, SunCoke’s Domestic Coke segment delivered a strong quarter, driven by higher domestic steel production and favorable pricing dynamics. The company’s Logistics segment also performed well, benefiting from increased volumes and improved rates on new and renewed contracts.

Looking ahead to 2024, SunCoke is well-positioned to capitalize on favorable market conditions and execute on its strategic initiatives. The company remains focused on driving operational excellence and enhancing its overall financial performance. SunCoke is committed to delivering value for its shareholders and believes that its strong operational capability and sound business fundamentals will support continued success in the coming year.

In addition to the strong financial and operational performance, SunCoke also continued its commitment to sustainability and corporate social responsibility. The company made progress on its sustainability goals and took steps to reduce its environmental footprint while positively impacting the communities in which it operates.

SunCoke’s leadership team remains optimistic about the future and is confident in the company’s ability to deliver sustainable value for its stakeholders. The company is committed to maintaining its strong position in the market and driving long-term success through a combination of operational excellence, financial discipline, and sustainable business practices.

As SunCoke Energy, Inc. looks ahead to 2024 and beyond, the company’s solid financial performance, strong operational capability, and commitment to sustainability position it well for continued success in the evolving energy landscape. The company’s focus on driving operational excellence, enhancing financial performance, and delivering value for its stakeholders will be key drivers of its future growth and success. With a proven track record of navigating through challenging market conditions, SunCoke is well-positioned to capitalize on opportunities and deliver sustainable value for its shareholders.

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