In its second quarter earnings statement, Suncoke Energy, Inc. reported continued strong performance at its domestic coke and logistics segments.
“Although our coke production was impacted due to planned outages, it was more than offset by higher margins from our export coke sales,” SunCoke Energy President and CEO Mike Rippey said. “Our logistics segment continues to deliver solid results, with higher volumes at our domestic terminals and favorable pricing at the [Convent Marine Terminal (CMT)].”
Revenues in the second quarter of 2022 increased $137.6 million as compared to the same prior year period, primarily reflecting the pass-through of higher coal prices and favorable export coke pricing.
Suncoke’s domestic coke business consists of cokemaking facilities and heat recovery operations at the Jewell, Indiana Harbor, Haverhill, Granite City and Middletown plants. The company’s logistics consists of the handling and mixing services of coal and other aggregates at its CMT, Lake Terminal, Kanawha River Terminals and Dismal River Terminal. The company also operates a cokemaking facility in Vitória, Brazil, for an affiliate of ArcelorMittal.
Based on higher export margins from its domestic coke plants and the API2 price adjustment benefit at CMT, Suncoke has revised its 2022 guidance for total domestic coke production upward to approximately 4.1 million tons.