SunCoke Energy, Inc. (NYSE: SXC) today reported third quarter 2012 net income attributable to shareholders of $31.6 million, up from $18.2 million in third quarter 2011.
“Our third quarter performance demonstrates the power of a consistent focus on operational excellence,” said Fritz Henderson, Chairman and Chief Executive Officer of SunCoke Energy, Inc. “Our entire U.S. cokemaking fleet continued to deliver strong results, with our new Middletown facility fueling a significant portion of the increase. Adjusted EBITDA increased 62 percent to $72.4 million in the third quarter and U.S. Domestic Coke Adjusted EBITDA per ton at $61 exceeded our target.
Henderson continued, “Our coal mining segment finished the quarter up slightly as a result of higher year-over-year sales prices and volumes and the favorable impact of a contingent consideration adjustment. However, higher production costs and reject rates offset most of this benefit. In light of the continuing weak coal environment, we are taking more aggressive actions to reduce costs and improve productivity in our coal mining business to position ourselves for 2013.”
Henderson added, “With year end approaching, we have a clearer view into our 2012 expected results and estimate that full year 2012 Adjusted EBITDA will be $255 million to $270 million and 2012 capital expenditures will total about $75 million.”CONSOLIDATED RESULTS
|Three months ended September 30,|
|(In millions, except per share data)||2012||2011||Increase|
|Adjusted EBITDA (1)||$||72.4||$||44.8||$||27.6|
|Net Income Attributable to Shareholders||$||31.6||$||18.2||$||13.4|
|Net Income Per Share - Diluted||$||0.45||$||0.26||$||0.19|