SunCoke Energy (SXC) Posts Narrower-Than-Expected Loss In Q2
Zacks Investment Research | Jul 27, 2017 09:25PM ET
Coke producer, SunCoke Energy (NYSE:SXC) reported loss of 7 cents per share in the second quarter of 2017, narrower than the Zacks Consensus Estimate of a loss of 14 cents.
Revenue
SunCoke Energy’s quarterly revenue was $323.2 million, lagging the Zacks Consensus Estimate of $348 million by 7.1%.
Revenues during the second quarter of 2017 increased $30.5 million compared with the year-ago period, reflecting higher coal prices in the Domestic Coke segment.
Segment Performance
Domestic Coke
Revenues for the quarter amounted to $296.5 million, reflecting an increase of $22.5 million. However, sales volume dropped by 39,000 tons year over year. Therefore, the increase in revenues can be attributed to higher coal prices in the domestic market.
Coal Logistics
Revenues were up $4.9 million year over year to $16.2 million, driven by higher sales volumes at its Convent Marine Terminal and Kanawha River Terminals, LLC.
Corporate and Other
Corporate and other expenses, which include costs related to SunCoke Energy’s legacy coal mining business, were $11 million in second-quarter 2017, reflecting improvement of $1.3 million from last year’s comparable period.
SunCoke Energy, Inc. Price, Consensus and EPS Surprise
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