SUNCOKE ENERGY, INC REPORTS RECORD THIRD QUARTER 2022 RESULTS.

LISLE, Ill: SunCoke Energy, Inc. (NYSE: SXC) today reported record third quarter 2022 results, reflecting continued strong financial performance in our Domestic Coke and Logistics segments.

"Our Domestic Coke business performed at exceptionally high levels during the quarter which allowed the company to fully realize the benefits of a strong export coke market. Our Logistics segment continued to deliver solid results, with higher volumes and favorable pricing. Additionally, we are excited to announce the foundry expansion project at our Jewell facility which will enable us to further build upon our success in the foundry markets," said Mike Rippey, President and Chief Executive Officer of SunCoke Energy, Inc. "Recognizing our record year-to-date financial performance, we now expect to surpass the full year Adjusted EBITDA guidance high end of $285 million."

THIRD QUARTER CONSOLIDATED RESULTS

Three Months Ended September 30,

(Dollars in millions)

2022

2021

Increase

Revenues

$ 516.8

$ 366.5

$ 150.3

Net (loss) income attributable to SXC

$ 41.4

$ 23.0

$ 18.4

Adjusted EBITDA(1)

$ 83.7

$ 73.9

$ 9.8

(1)

See definition of Adjusted EBITDA and reconciliation elsewhere in this release.

Revenues in the third quarter of 2022 increased $150.3 million as compared to the same prior year period, primarily reflecting the pass-through of higher coal prices and favorable export coke pricing.

Net income attributable to SXC increased $18.4 million from the same prior year period as a result of favorable operating results discussed below. Additionally, during the third quarter of 2022 the Company recorded deferred tax benefits of $15.9 million as a result of the release of a valuation allowance established on the deferred tax assets attributable to existing foreign tax credit carryforwards and the recognition of research and development credits.

Adjusted EBITDA increased $9.8 million as compared to the same prior year period, primarily as a result of higher margins on export sales.

THIRD QUARTER SEGMENT RESULTS

Domestic Coke

Domestic Coke consists of cokemaking facilities and heat recovery operations at our Jewell, Indiana Harbor, Haverhill, Granite City and Middletown plants.

Three Months Ended September 30,

(Dollars in millions, except per ton amounts)

2022

2021

Increase

(decrease)

Revenues

$ 487.7

$ 340.3

$ 147.4

Adjusted EBITDA(1)

$ 76.6

$ 65.1

$ 11.5

Sales volumes (thousands of tons)

1,022

1,056

(34)

Adjusted EBITDA per ton(2)

$ 74.95

$ 61.65

$ 13.30

(1)

See...