Acquisition of Phoenix Global
SunCoke Energy announced the acquisition of Phoenix Global for $325 million, expected to be immediately accretive. The acquisition is seen as a strategic fit, extending SunCoke's reach to new industrial customers and markets.
Strong Liquidity Position
SunCoke ended the second quarter with a strong liquidity position of $536.2 million, including a cash balance of $186.2 million and a fully undrawn revolver of $350 million.
Reaffirmation of Guidance
Despite challenges, SunCoke reaffirmed its full-year consolidated adjusted EBITDA guidance range of $210 million to $225 million.
Completion of Barge Unloading Capital Expansion Project at KRT
The project was completed and is operational, expected to generate benefits starting in the third quarter.