SXC · SunCoke Energy, Inc.

SunCoke Energy, Inc. reported a Q1 2026 net loss attributable to common shareholders of $4.4 million, or $(0.05) per diluted share, compared to net income of $17.3 million, or $0.20 per diluted share, in the prior-year quarter. Revenues rose 4.4% to $455.1 million from $436.0 million, driven primarily by the addition of Phoenix Global in the Industrial Services segment, which contributed $63.0 million in revenues and $12.5 million in Adjusted EBITDA improvement to $26.2 million. This offset declines in Domestic Coke, where revenues fell $44.1 million to $361.7 million and Adjusted EBITDA dropped $14.6 million to $35.3 million, impacted by severe winter weather, the shutdown of the Haverhill I cokemaking facility, lower blast coke sales volumes of 842 thousand tons (down 56 thousand tons YoY), and reduced power sales from the Middletown turbine failure. Consolidated Adjusted EBITDA of $56.5 million was slightly below prior year $59.8 million, with Corporate and Other expenses rising to $5.0 million. Operating cash flow was robust at $72.7 million, supporting revolver paydown and the 27th consecutive quarterly dividend of $0.12 per share. Balance sheet remains solid with cash at $104.4 million (up from $88.7 million at year-end), total liquidity ~$262 million, and net leverage at 2.61x. Management reaffirmed full-year 2026 guidance including Consolidated Adjusted EBITDA $230-$250 million, Domestic Coke sales ~3.4 million tons, capex $90-$100 million, and operating cash flow $230-$250 million, citing operational recovery expected from Q2 onward including Middletown power resumption. Integration of Phoenix Global proceeds seamlessly, bolstering Industrial Services growth amid coke segment headwinds.