Suncoke Energy Inc Down 13.46% To $8.23 After Earnings Miss

Wednesday, November 1, 2023 - Suncoke Energy Inc (SXC) reported downside earnings and upside revenues.

Suncoke Energy Inc's earnings came in at an EPS of $0.08 per share, 56% lower than estimates for an EPS of $0.18 per share. The firm's earnings are down 84% since reporting $0.49 per share in the same period a year ago.

Consensus analyst estimates were at $382.7 million. The Basic Materials company managed to surpass those expectations for its third quarter with revenue of $520.4 million, a positive revenue surprise of $137.7 million (36%). The firm managed 1% growth year-over-year due to Suncoke Energy Inc reporting quarterly revenue of $516.8 million in its year-ago quarter. Suncoke Energy Inc achieved a lower earnings growth rate than revenue, signaling that the business has not been able to improve its profit margin.

The stock is down 13.46% to $8.23 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Neutral Sentiment score at the moment based on recent trading.

Suncoke Energy Inc has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 94, putting Suncoke Energy Inc in the top 25% of stocks. The firm set a 52-week low on May 31, 2023 at $6.71 and set a 52-week high on March 3, 2023 at $10.43.

SunCoke Energy Inc operates as an independent producer of coke in the Americas. The company operates through three segments: Domestic Coke, Brazil Coke, and Logistics. It offers metallurgical and thermal coal. The company also provides handling and/or mixing services to steel, coke, electric utility, coal producing, and other manufacturing based customers.