SunCoke Energy Q3 Loss Widens - Quick Facts

(RTTNews) - SunCoke Energy Inc. (SXC) reported that its loss attributable to shareholders for the third quarter 2015 widened to $23.5 million, or $0.36 per share, from last year's $3.6 million, or $0.05 per share, due primarily to performance challenges at our Indiana Harbor cokemaking facility and a $19.4 million impairment to its equity method investment in VISA SunCoke, our joint venture in India.

The prior year result included a $10.0 million, net of tax, or $0.14 per share, impairment charge on its coal mining business.

Revenues for the quarter declined $40.1 million to $336.9 million in third quarter 2015 compared with the same prior year period, reflecting the pass-through of lower coal costs in our Domestic Coke segment as well as lower sales volumes.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.02 per share and revenues of $340.20 million for the quarter. Analysts' estimates typically exclude special items.

Given the quarter's results and outlook for the remainder of the year, it revised its full year 2015 Consolidated Adjusted EBITDA guidance to $180 million to $190 million. This reflected an expected Adjusted EBITDA benefit of approximately $20 million from the acquisition of the Convent Marine Terminal, offset by lower expectations for Indiana Harbor, which we now expect will not contribute to 2015 Adjusted EBITDA.