SunCoke Energy Rises On Improved Q3 Results, Outlook

(RTTNews) - Shares of coke supplier SunCoke Energy, Inc. (SXC) are rising more than 7% Monday morning after reporting improved third-quarter results. The company also raised its full-year adjusted EBITDA outlook.

Third quarter net income was $41.4 million, or $0.49 per share, up from $23 million or $0.27 per share in the same quarter a year ago.

Revenue for the quarter increased to $516.8 million from $366.5 million last year, primarily reflecting the pass-through of higher coal prices and favorable export coke pricing.

Looking forward to the full year, the company expects to exceed the high end of its adjusted EBITDA outlook of $285 million, mainly driven by higher margins on export coke sales.

Additionally, SunCoke said its Board approved a capital project that will enable the company's Jewell facility to produce 100% foundry coke.

SXC is at $7.36 currently. It has traded in the range of $5.72-$9.82 in the last 1 year.