Steel Products Prices North America

SunCoke Reports Record Third Quarter

Written by Becca Moczygemba

November 1, 2022

Despite global economic uncertainty, SunCoke Energy Inc. documented a record third quarter performance.

SunCoke Energy“Our Domestic Coke business performed at exceptionally high levels during the quarter which allowed the company to fully realize the benefits of a strong export coke market. Our Logistics segment continued to deliver solid results, with higher volumes and favorable pricing. Additionally, we are excited to announce the foundry expansion project at our Jewell facility which will enable us to further build upon our success in the foundry markets,” said Mike Rippey, president and CEO of SunCoke.

The raw materials processor noted strong operational performance and high margins on export coke sales, reporting Q3 net income of $41.4 million, a substantial increase from Q2’s $18 million. Q3 revenues were up by $150.3 million from the year-ago quarter to $516.8 million.

Domestic cokemaking facilities in Jewell, Va.; East Chicago, Ind.; Franklin Furnace, Ohio; Middletown, Ohio; and Granite City, Ill. shipped out a total of 1.022 million tons in Q3, a 34,000-ton decrease from Q3 of 2021.

For the remainder of 2022, SunCoke expects to continue building upon the commercial success of its foundry and export business. Likewise, it anticipates production to be approximately 4.1 million tons, collectively.

By Becca Moczygemba, Becca@SteelMarketUpdate.com

Becca Moczygemba

Becca Moczygemba is a reporter and editor for Steel Market Update. She has been in the steel industry since 2017, specializing in flat-rolled products. Prior to joining SMU, she held positions at Mitsui & Co. and Kloeckner Metals. Becca has a BA in Organizational/Corporate Communication from the University of Houston and an MBA from Norwich University. Contact Becca at becca@steelmarketupdate.com or 724-720-1000.

Read more from Becca Moczygemba

Latest in Steel Products Prices North America