Suncoke Energy, Inc. · NYSE:SXC
Suncoke Energy — Q3 2021 Earnings Presentation
17 slides from Suncoke Energy's earnings presentation, Nov 1, 2021
Slide 1: Q3 2021 Earnings Conference Call
SunCoke Energy, Inc. Q3 2021 Earnings Conference Call Exhibit 99.2
Slide 2: Forward-looking statements disclaimer
This slide presentation should be reviewed in conjunction with the Second Quarter 2021 earnings release of SunCoke Energy, Inc. (SunCoke) and conference call held on November 1, 2021 at 10:00 a.m. ET. This presentation call contains “forward-looking statements” (as defined in Section 27A of the Secu
Slide 3: Q3 2021 Highlights
Q3 2021 Highlights Continued strong performance across coke and logistics operations Delivered Q3 ‘21 Adjusted EBITDA of $73.9M; representing record Q3 performance CMT recovered quickly from Hurricane Ida with only minor damage and minimal business disruption Export and foundry coke initiatives cont
Slide 4: Q3 2021 Financial Performance
Q3 2021 Financial Performance See appendix for a definition and reconciliation of Adjusted EBITDA Coke Adjusted EBITDA includes Domestic Coke and Brazil Coke Q3 ’21 Corporate and Other Adj. EBITDA includes activity from our legacy coal mining business ($/share) ($ in millions) Diluted EPS Adj. EBITD
Slide 5: Domestic Coke Performance
Domestic Coke Performance Domestic Coke Business Summary /ton $56/ton /ton /ton /ton Sales Tons (Coke Production, Kt) Delivered Adj. EBITDA/ton(1) of ~$62 in Q3 ‘21 vs. ~$56 in Q3 ‘20 Higher volumes across the fleet as prior year quarter was impacted by pandemic related volume turndowns Better price
Slide 6: Logistics Performance and Guidance
$10.9M $11.4M $11.6M Logistics Business Summary (Tons Handled, Kt) Logistics segment contributed $11.6M to Q3 ‘21 Adj. EBITDA Price for coal handling at CMT includes a “price kicker” based on the API2 price index which benefited Q3 results Expect price kicker benefit to continue in Q4 Impact of hurr
Slide 7: Q3 2021 Liquidity
Revolver Availability: $235.9M (Consolidated) Q3 ’21 Total Debt $615M Gross Leverage(1) 2.46x Net Leverage(1) 2.25x Gross leverage and Net leverage for Q3 2021 calculated using Last Twelve Month(LTM) Adjusted EBITDA Q3 2021 Liquidity No significant debt maturity until 2026 as a result of debt refina
Slide 8: 2021 Initiatives
Provide stability in coke business by addressing uncontracted coke tons in the near future Continue to work towards revitalizing CMT with new product and customer mix Position Coke Business and CMT for Long-Term Success 2021 Initiatives $255M - $265M Adjusted EBITDA Achieve 2021 Financial Objectives
Slide 9: Appendix
APPENDIX ) |
Slide 10: Adjusted EBITDA definition
Adjusted EBITDA represents earnings before interest, taxes, depreciation and amortization (“EBITDA”), adjusted for any impairments, restructuring costs and gains or losses on extinguishment of debt. EBITDA and Adjusted EBITDA do not represent and should not be considered alternatives to net income o
Slide 11: 2021 Revised Guidance Summary
2021 Revised Guidance Summary Well positioned to modestly exceed Adjusted EBITDA guidance driven by success in export/ foundry coke markets See appendix for a definition and reconciliation of Adjusted EBITDA Domestic coke production for 2021 estimate includes production for foundry and export sales
Slide 12: Balance Sheet & Debt Metrics
Balance Sheet & Debt Metrics As of 9/30/2021 | As of 12/31/2020 cash $ 55 $ 48 [Available Revolver Capacity $ 236_$ 300 [Total Liquidity $ 291 $ 348 Gross Debt (Long and Short-term) $ 615 $ 691 Net Debt (Total Debt less Cash) $ 560 $ 642 LTM Adj. EBITDA $ 250 $ 206 Gross Debt / LTM Adj. EBITDA 2.46x
Slide 13: 2021 Guidance Reconciliation
2021 Guidance Reconciliation Reflects non-controlling interest in Indiana Harbor Free Cash Flow Reconciliation
Slide 14: SXC FCF/Share Reconciliation
SXC FCF/Share Reconciliation
Slide 15: Reconciliation to Adjusted EBITDA attributable to SXC
Reconciliation to Adjusted EBITDA and Adjusted EBITDA attributable to SXC Charges related to a company-wide restructuring and cost-reduction initiative Reflects non-controlling interests in Indiana Harbor and the portion of the Partnership owned by public unitholders prior to the closing of the Simp
Slide 16: Adjusted EBITDA and Adjusted EBITDA per ton
Adjusted EBITDA and Adjusted EBITDA per ton (1) Corporate and Other includes the results of our legacy coal mining business.
Slide 17: SunCoke Energy
SunCoke Energy”