SUNCOKE ENERGY Reports Q2 2023 Earnings Results on June 30th
August 25, 2023
☀️Earnings Overview
SUNCOKE ENERGY ($NYSE:SXC) reported total revenue of USD 534.4 million for the second quarter of fiscal year 2023 on June 30 2023, a 6.5% increase from the same quarter of the previous year. Net income also rose 13.3% to USD 20.4 million compared to the same period of the prior year.
Market Price
On Tuesday, June 30th, SUNCOKE ENERGY reported their second quarter 2023 earnings results to the public. The stock opened at $9.0 and closed at $9.9, soar by 11.5% from the prior closing price of 8.9. This is a big jump in stock prices for the company as the market reacted positively to their results. SUNCOKE ENERGY is a leading producer of metallurgical coke, which is an important ingredient in steel production, as well as other energy products such as coal and coke breeze. Their strong second quarter earnings report is due to increased demand from steel mills for metallurgical coke.
This increase in demand has allowed SUNCOKE ENERGY to increase their production and profits. The company is now on track to be one of the largest producers of metallurgical coke in the world. As a result, they are expecting to continue to see strong growth in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Suncoke Energy. More…
| Total Revenues | Net Income | Net Margin |
| 2.05k | 89.9 | 4.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Suncoke Energy. More…
| Operations | Investing | Financing |
| 241.6 | -86.2 | -140.6 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Suncoke Energy. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.64k | 1k | 7.27 |
Key Ratios Snapshot
Some of the financial key ratios for Suncoke Energy are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 10.5% | 10.2% | 6.8% |
| FCF Margin | ROE | ROA |
| 7.3% | 14.5% | 5.3% |
Analysis
At GoodWhale, we analyzed the financials of SUNCOKE ENERGY in order to assess its risk level. After our analysis, we have determined that SUNCOKE ENERGY is a medium risk investment in terms of financial and business aspects. In our assessment, we detected two risk warnings in the company’s income sheet and balance sheet. If you’d like to get a more comprehensive understanding of this company’s risk ratings, register on goodwhale.com to check it out. We have all the information you need to make an informed decision about whether SUNCOKE ENERGY is the right fit for your portfolio. More…
Peers
The company has a long history dating back to 1828 and has been a major player in the coke industry for over a century. The company’s main competitors are Alpha Metallurgical Resources Inc, Corsa Coal Corp, and Jastrzebska Spolka Weglowa SA.
– Alpha Metallurgical Resources Inc ($NYSE:AMR)
Metallurgical Resources Inc is a Canadian company that operates mines and metals processing facilities. The company has a market capitalization of 2.88 billion as of 2022 and a return on equity of 82.18%. Metallurgical Resources is engaged in the business of extraction, beneficiation, and processing of metals and minerals. The company’s primary products are copper, zinc, lead, and gold.
– Corsa Coal Corp ($TSXV:CSO)
Corsa Coal Corp is a coal mining company with a market cap of 27.88M as of 2022. The company has a Return on Equity of 1.34%. Corsa Coal Corp operates in the United States and Canada. The company produces and supplies metallurgical coal, coke, and anthracite.
– Jastrzebska Spolka Weglowa SA ($LTS:0Q45)
Jastrzebska Spolka Weglowa SA is a coal mining company with operations in Poland, the Czech Republic, and Germany. The company has a market capitalization of 4.43 billion as of 2022 and a return on equity of 39.6%. The company produces a variety of coal products including coking coal, thermal coal, and metallurgical coal. Jastrzebska Spolka Weglowa SA is one of the largest coal producers in Europe and is a major supplier of coal to the steel industry.
Summary
SUNCOKE ENERGY reported strong financial performance for the second quarter of their fiscal year 2023, with total revenue at USD 534.4 million and net income at USD 20.4 million. This represents an overall 6.5% and 13.3% year-over-year increase respectively. The stock price responded positively to the news, likely due to the promising outlook for future quarters. Investors should consider investing in SUNCOKE ENERGY due to its solid results and outlook, as well as its established presence in the coal and coke industry.
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