SunCoke Energy, Inc. reported fourth quarter and full-year 2025 results and provided guidance for 2026.

SunCoke Energy, Inc. (NYSE: SXC) (the "Company" or "SunCoke") today reported fourth quarter and full-year 2025 results, and provided guidance for 2026.

"We are pleased with the SunCoke team's execution on our operational plan, including our safety performance in 2025. SunCoke achieved an excellent annual Total Recordable Incident Rate (TRIR) of 0.55, excluding Phoenix Global. This represents best-in-class performance and I would like to thank the team for their dedication and commitment. We also made significant progress on our capital allocation goals, with the acquisition of Phoenix Global and the continuation of our quarterly dividend," said Katherine Gates, President and CEO of SunCoke Energy, Inc. "Our fourth quarter and full-year results, when compared to prior year periods, were impacted by the closure of our Haverhill I facility, resulting in a non-cash asset impairment charge, the breach of contract by Algoma, lower Granite City contract extension economics, and the change in mix of contract and spot coke sales. In our Industrial Services segment, Phoenix Global performed in line with our expectations, while weak market conditions persisted throughout the year, impacting our terminals handling volumes."

"Looking ahead to 2026, we have optimized our coke fleet with the closure of Haverhill I, resulting in revised Domestic Coke production capacity of approximately 3.7 million tons. With extended contracts at Granite City and Haverhill II, and having finalized all foundry and spot coke sales, we will be running at full utilization and are sold out for the year. Our 2026 Adjusted EBITDA guidance range of $230 million to $250 million reflects our expectations for improvement in market conditions for our terminals and a full year of Phoenix Global. The breach of contract by Algoma and subsequent closure of Haverhill I will drive lower coke sales tons, but at higher margins, resulting in a modest decrease in Domestic Coke Adjusted EBITDA as compared to 2025," Gates continued. "We remain focused on executing against our well established objectives of exceptional safety performance, operational excellence, and a balanced approach to capital allocation. We plan to use our excess cash flow in 2026 to pay down debt, continue the distribution of the quarterly dividend, and continue to assess growth opportunities. We are positioning the Company for sustained success and delivering significant value to SunCoke stakeholders."

Revenues decreased during both the fourth quarter and full-year 2025 as compared to the same prior year periods, primarily driven by lower pricing and volumes due to the change in mix of contract and spot coke sales, lower contract extension economics at Granite City, and lower coke sales volumes due to the breach of contract by Algoma in the Domestic Coke segment, partially offset by the addition of Phoenix Global in the Industrial Services segment.

Net income attributable to SXC for the fourth quarter 2025 decreased from the same prior year period, primarily driven by one-time items totaling $95.7 million, or $72.7 million net of tax, including a non-cash asset impairment charge primarily due to the closure of our Haverhill I cokemaking facility, site closure costs primarily related to Phoenix Global operating sites, and restructuring and transaction costs primarily related to the acquisition of Phoenix Global. Net loss attributable to SXC for the fourth quarter 2025 was also impacted by lower coke sales volumes in the Domestic Coke segment due to the breach of contract by Algoma. Net income attributable to SXC for the full-year 2025 decreased from the same prior year period, primarily driven by one-time items totaling $109.3 million, or $83.1 million net of tax, including a non-cash asset impairment charge primarily due to the closure of our Haverhill I cokemaking facility, transaction and restructuring costs primarily related to the acquisition of Phoenix Global, and site closure costs primarily related to Phoenix Global operating sites. Net loss attributable to SXC for the full-year 2025 was also impacted by the change in mix of contract and spot coke sales coupled with lower economics on the Granite City contract extension in the Domestic Coke segment, and the absence of a one-time gain of $9.5 million on the elimination of the majority of our legacy black lung liabilities recorded in the third quarter of 2024, partially offset by an income tax benefit from capital investment tax credits.

Fourth quarter 2025 Adjusted EBITDA decreased as compared to the same prior year period, primarily driven by lower coke sales volumes due to the breach of contract by Algoma and lower economics on the Granite City contract extension in the Domestic Coke segment, partially offset by the addition of Phoenix Global. Full-year 2025 Adjusted EBITDA decreased as compared to the same prior year period, primarily driven by the change in mix of contract and spot coke sales, lower economics on the Granite City contract extension, lower coal-to-coke yields, and lower coke sales volumes due to the breach of contract by Algoma, partially offset by the addition of Phoenix Global.

2026 OUTLOOK

Our 2026 guidance is as follows:

Domestic coke total sales are expected to be approximately 3.4 million tons(1)

Consolidated Net Income is expected to be between $25 million and $43 million

Consolidated Adjusted EBITDA is expected to be between $230 million and $250 million

Capital expenditures are projected to be between $90 million and $100 million

Operating cash flow is estimated to be between $230 million and $250 million

Net cash tax receipts are projected to be between $8 million and $12 million

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