SunCoke Energy soars on upbeat Q3 results, FY EBITDA forecast hike

SunCoke Energy

31/10/2022 12:22

** Shares of coke coal producer SunCoke Energy  SXC.N  up
16% at $7.95 premarket
    ** Stock set to open at highest level in nearly five months
if gains hold
    ** Co raises FY22 adj EBITDA forecast to >$285 mln vs prev
forecast of $270 mln to $285 mln, mainly driven by higher
margins on export coke sales
    ** SXC reports Q3 profit of 49 cents/share, compared with 27
cents/share from a year earlier
    ** Q3 rev stands at $516.8 mln, compared with $366.5 mln a
year earlier, driven by gains in domestic coke segment; rev
beats analyst's expectations of $385.84 mln, as per IBES
Refinitv data
    ** As of last close, stock had risen 3.6% YTD, compared with
a 14.6% decline in the S&P 600 Small Cap index  .SPCY 
 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com))