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Exhibit 99.1
Investors and Media:
Andy Kellogg & Kory Kutzke
(630) 824-1907
SUNCOKE ENERGY, INC. ANNOUNCES THIRD QUARTER 2018 RESULTS
| Net income attributable to SXC was $11.5 million, or $0.18 per share, and operating cash flow was $85.3 million in the current period |
| Adjusted EBITDA for the quarter was $66.0 million up $3.9 million, or 6 percent, versus the prior year period driven by strong operating performance at Indiana Harbor and Convent Marine Terminal |
| Increased Indiana Harbor full-year 2018 Adjusted EBITDA guidance range to $10 million to $15 million on approximately 950 thousand tons from approximately break-even on 870 to 900 thousand tons |
| Well positioned to deliver full-year 2018 results at the top-end of Consolidated Adjusted EBITDA guidance range of $240 million to $255 million |
LISLE, Ill. (October 25, 2018) - SunCoke Energy, Inc. (NYSE: SXC) today reported results for the third quarter 2018, which reflect strong operating results in our coke and logistics businesses. Third quarter results reflect the strong performance at the companys Indiana Harbor facility and logistics business as well as the impact of a planned outage and unrelated machinery fire at the companys Granite City facility.
We are pleased with our third quarter consolidated operating results in both the coke and logistics businesses. In the quarter, we continue to see significant operational improvement at Indiana Harbor driven by the diligent progress on our oven rebuild initiative, and our CMT business continues to deliver strong throughput volumes, said Mike Rippey, President and Chief Executive Officer of SunCoke Energy, Inc. The solid performance we have achieved through the first nine months of the year has positioned us well to deliver full-year results at the top-end of our 2018 Adjusted EBITDA guidance range.
The Company continued to execute its Indiana Harbor oven rebuild initiative during the third quarter. Rippey commented, The majority of the A-battery ovens have been rebuilt as of the end of the third quarter, and the improved operating performance has allowed us to meaningfully increase our 2018 Indiana Harbor guidance range.
Additionally, the Company will start on the last phase of our multi-year rebuild initiative, completing comprehensive rebuilds on all 57 remaining B-battery ovens in 2019. Rippey commented, We have demonstrated our ability to dramatically improve operational performance through this rebuild process. We look forward to implementing the knowledge and resources we have honed to successfully execute the final phase of the rebuild project and generate lasting benefits for our shareholders, customer, employees, and the surrounding community.
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