SunCoke Energy, Inc. (NYSE: SXC) today reported fourth quarter and full year 2012 results.
“We delivered on our financial targets in 2012, achieving Adjusted EBITDA of $265.7 million, earnings per share of $1.40 and free cash flow of $120 million,” said Fritz Henderson, Chairman and Chief Executive Officer of SunCoke Energy, Inc. “This performance was driven largely by three factors: the near-flawless startup of our Middletown operations, better results at Indiana Harbor and continued strong performance across our entire U.S. cokemaking fleet. Our coal mining business did not meet our expectations in 2012, but still generated positive earnings and was essentially cash flow neutral. In response to the current weak coal market environment, we continue to take aggressive action to improve productivity and reduce costs to strategically position this segment for the long term.”
Henderson also said, “In 2012, we built a strong foundation to grow our coke business. We signed an agreement to form a cokemaking joint venture with VISA Steel in India, filed a permit to build a potential new U.S. cokemaking facility and, just a few weeks ago, we completed the initial public offering for units in SunCoke Energy Partners, L.P., our new master limited partnership. These efforts should help drive continued positive long term momentum in our business.”
|Three months ended||Year ended|
|December 31,||December 31,|
|Adjusted EBITDA (1)||$||69.7||$||30.9||$||38.8||$||265.7||$||138.8||$||126.9|
|Net Income Attributable to Shareholders||$||27.6||$||8.0||$||19.6||$||98.8||$||60.6||$||38.2|
|Net Income Per Diluted Share||$||0.39||$||0.12||$||0.27||$||1.40||$||0.87||$||0.53|