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SunCoke Energy Reports 1Q 2017 Financial Results, Shares Rise Over 20%

Jason BondJason Bond ·

SunCoke Energy (NYSE: SXC) shares were up just over 20% today, after announcing its first quarter 2017 financial results. SunCoke Energy reported a first quarter profit, while it reported a net loss in 1Q 2016. Moving on to its 1Q 2017 financial results.

SunCoke Energy 1Q 2017 Financial Results

SunCoke Energy reported revenues of $309.7M for 1Q 2017, compared to revenues of $311.1M for the same period in the prior fiscal year. This was attributed to lower sales volumes in its Domestic Coke segment, which was mostly offset by its higher sales volumes in its Coal Logistics segment.

Additionally, the company reported an adjusted EBITDA of $55.6M for the first quarter of 2017, up $11.8M from 1Q 2016. Again, the increase was attributed to its higher sales volumes in its Coal Logistics segment and lower corporate costs and the benefits of the divestiture of its coal mining business.

SunCoke Energy reported net income of $1M, which was a $5.1M increase from its net loss of $4.1M in 1Q 2016. The company reported an earnings per share (EPS) of 2 cents, compared to a net loss of 6 cents per share in the same period in the previous fiscal year. This increase in net income was attributed to the partial offset by the absence of its $20.4M debt extinguishment gains recorded in the prior fiscal year.

According to Fritz Henderson, Chairman, President and Chief Executive Officer of SunCoke Energy,

“We are pleased with our first quarter performance, and this fast start has positioned us to deliver upon our financial guidance in 2017.”

Moving on, let’s look at the SXC’s statistics and valuations.

SXC Statistics and Valuation

SXC traded in a range between $8.48 and $10.07, and the stock closed at $10.01 today. SXC has a 52-week range between  $5.14 and $13.14 . Therefore, SXC is  currently over 90% above its 52-week low and just over 23% off its 52-week high.

Here’s a look at SXC’s recent performance on the daily chart:

Source: Investing.com

The stock closed above its 20-, 50- and 200-day simple moving averages today. Now, we’ll need to see some more confirmation to determine whether it’s an actual reversal in trend.

SXC has a price-to-earnings ratio of around 45, while the industry average does not have a P/E ratio, which could potentially be due to some companies in the industry operating at a loss. SunCoke Energy Inc. currently has a book value per share of 4.8307, and consequently, SXC has a price-to-book ratio of 2.07, as of today’s close, which is below the industry average. The stock also has a price-to-sales ratio (P/S) of approximately 0.4, as of yesterday’s close, according to Morningstar. SXC has  56.15M shares floating, 64.3 million shares outstanding, and a short ratio of 2.88%.

Final Thoughts

SunCoke Energy reported a net income of $1M for the first quarter of 2017, which showed significant growth from its net loss of $4.1M in 1Q 2016. Consequently, shares ran up over 20% on the day.

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