SunCoke Energy (SXC) has reported 10.53 percent fall in profit for the quarter ended Dec. 31, 2016. The company has earned $17 million, or $0.26 a share in the quarter, compared with $19 million, or $0.30 a share for the same period last year.
Revenue during the quarter dropped 7.92 percent to $325.60 million from $353.60 million in the previous year period. Gross margin for the quarter expanded 869 basis points over the previous year period to 31.20 percent. Total expenses were 85.47 percent of quarterly revenues, down from 92.99 percent for the same period last year. This has led to an improvement of 751 basis points in operating margin to 14.53 percent.
Operating income for the quarter was $47.30 million, compared with $24.80 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $77.30 million compared with $55 million in the prior year period. At the same time, adjusted EBITDA margin improved 819 basis points in the quarter to 23.74 percent from 15.55 percent in the last year period.
"Fourth quarter and full-year results were in line with expectations, and again illustrate the ability for our coke and coal logistics segments to consistently generate stable results," said Fritz Henderson, president, chairman and chief executive officer of SunCoke Energy, Inc. "In 2016, we set out to manage through the challenging market conditions that our customers faced while continuing to focus on de-levering our balance sheet and achieving our financial objectives. I am pleased that we have successfully delivered against these initiatives."
Operating cash flow improves significantlySunCoke Energy has generated cash of $219.10 million from operating activities during the year, up 55.28 percent or $78 million, when compared with the last year. The company has spent $36.20 million cash to meet investing activities during the year as against cash outgo of $285.20 million in the last year.
The company has spent $172.30 million cash to carry out financing activities during the year as against cash inflow of $128.50 million in the last year period.
Cash and cash equivalents stood at $134 million as on Dec. 31, 2016, up 8.59 percent or $10.60 million from $123.40 million on Dec. 31, 2015.
Working capital declines
SunCoke Energy has witnessed a decline in the working capital over the last year. It stood at $144.10 million as at Dec. 31, 2016, down 10.16 percent or $16.30 million from $160.40 million on Dec. 31, 2015. Current ratio was at 1.84 as on Dec. 31, 2016, down from 1.97 on Dec. 31, 2015.
Debt comes downSunCoke Energy has recorded a decline in total debt over the last one year. It stood at $854.10 million as on Dec. 31, 2016, down 14.49 percent or $144.70 million from $998.80 million on Dec. 31, 2015. Total debt was 40.27 percent of total assets as on Dec. 31, 2016, compared with 44.28 percent on Dec. 31, 2015. Debt to equity ratio was at 1.33 as on Dec. 31, 2016, down from 1.60 as on Dec. 31, 2015. Interest coverage ratio improved to 3.58 for the quarter from 1.69 for the same period last year. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: [email protected]
