SunCoke Energy, Inc. (SXC): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de la energía y los materiales industriales, SunCoke Energy, Inc. (SXC) surge como un jugador fundamental que transforma el carbón metalúrgico en coca cola de alta calidad a través de un modelo de negocio innovador y estratégicamente diseñado. Al integrar sin problemas procesos tecnológicos avanzados, prácticas ambientales sostenibles y asociaciones industriales robustas, SunCoke se ha posicionado como un proveedor crítico para el ecosistema de fabricación de acero global, que ofrece no solo un producto, sino una solución integral que equilibra la eficiencia, la calidad y la responsabilidad ecológica. .

SunCoke Energy, Inc. (SXC) - Modelo de negocios: asociaciones clave

Asociaciones estratégicas con fabricantes de acero

SunCoke Energy mantiene asociaciones críticas con los principales productores de acero:

Fabricante de acero	Detalles de la asociación	Volumen de producción anual de Coca -Cola
ArcelorMittal	Contrato de suministro a largo plazo	2.3 millones de toneladas de coca cola metalúrgica
Cleveland Cliffs	Acuerdo de producción integrado	1.7 millones de toneladas de coca cola metalúrgica

Proveedores de carbón Asociación de materias primas

Las asociaciones clave de adquisición de carbón incluyen:

• Consol Energy: proveedor de carbón metalúrgico primario
• Recursos de arco: socio secundario de adquisición de carbón
• Adquisición anual de carbón: 4.5 millones de toneladas

Fabricantes de equipos industriales

Asociaciones de tecnología y equipo:

Fabricante de equipos	Enfoque tecnológico	Valor de inversión
Metso Corporation	Tecnología de coque	$ 12.3 millones de inversión anual
Outotec	Equipo de procesamiento	Asociación tecnológica de $ 8.7 millones

Asociaciones de logística y transporte

Colaboraciones de red de distribución:

• Norfolk Southern Railway: transporte ferroviario primario
• Transporte CSX: logística ferroviaria secundaria
• Volumen de transporte anual: 6.2 millones de toneladas

Asociaciones de investigación e innovación

Colaboraciones de desarrollo tecnológico:

Institución de investigación	Enfoque de investigación	Presupuesto de investigación anual
Universidad Carnegie Mellon	Procesos metalúrgicos avanzados	$ 2.5 millones
Instituto de Tecnología de Massachusetts	Técnicas de fabricación sostenibles	$ 3.1 millones

SunCoke Energy, Inc. (SXC) - Modelo de negocio: actividades clave

Cocina y procesamiento de carbón metalúrgico

SunCoke Energy opera 6 instalaciones de coque de carbón metalúrgico con una capacidad de producción anual total de 5,6 millones de toneladas de coque metalúrgico. La Compañía procesa aproximadamente 7.5 millones de toneladas de carbón anualmente a través de su tecnología avanzada de fabricación de coca.

Ubicación de la instalación	Capacidad de producción anual de Coca -Cola	Tipo de tecnología
Harbour de Indiana, en	1.8 millones de toneladas	Batería de coca de coca de recuperación de calor
Middletown, oh	1.4 millones de toneladas	Batería de coca de coca de recuperación de calor

Producción de Coca -Cola de la industria del acero

SunCoke suministra Coca -Cola a los principales fabricantes de acero, con clientes clave que incluyen ArcelorMittal, United States Steel Corporation y Cliffs Natural Resources.

• Suministra aproximadamente 4,5 millones de toneladas de coca cola metalúrgica anualmente
• Proporciona Coca -Cola a 5 fábricas de acero integradas en los Estados Unidos
• Utiliza tecnología patentada de horno de coca cola de recuperación de calor

Reducción de gestión ambiental y emisiones

La compañía invierte $ 12-15 millones anuales en tecnologías de gestión ambiental. Su tecnología de horno de coque de recuperación de calor reduce las emisiones de CO2 en aproximadamente un 40% en comparación con los métodos tradicionales de producción de coque.

Inversión ambiental	Reducción de emisiones	Normas de cumplimiento
$ 14.2 millones (2023)	40% de reducción de CO2	Cumplimiento de la Ley de Aire Limpio de la EPA

Optimización de la cadena de suministro

SunCoke administra una cadena de suministro compleja que involucra el abastecimiento de carbón, el transporte y la entrega de coque con una red de logística estimada que cubre 12 estados.

• Opera 3 regiones estratégicas de abastecimiento de carbón
• Administra la logística de transporte por 7,5 millones de toneladas de carbón anualmente
• Mantiene contratos de suministro a largo plazo con los principales productores de carbón

Mantenimiento y operación de equipos industriales

La compañía mantiene una sofisticada infraestructura de producción de coque con un presupuesto de mantenimiento anual de $ 22-25 millones.

Tipo de equipo	Presupuesto de mantenimiento	Eficiencia operativa
Baterías de coca cola	$ 24.3 millones (2023)	92% de tiempo de actividad operativo

SunCoke Energy, Inc. (SXC) - Modelo de negocio: recursos clave

Instalaciones de coque avanzadas e infraestructura industrial

SunCoke Energy opera 5 instalaciones de cocción con capacidad de producción anual total de 6.1 millones de toneladas de coca cola metalúrgica. Las ubicaciones de las instalaciones incluyen:

Ubicación	Capacidad (toneladas/año)
Middletown, oh	1.7 millones
Harbour de Indiana, en	2.4 millones
Granite City, IL	2.0 millones

Tecnologías de procesamiento de carbón metalúrgico patentado

La copita múltiples tecnologías propietarias en producción de coque, incluyendo:

• Tecnología Jewell Coke ™
• Diseño de batería de horno de coca de recuperación de calor
• Sistemas de control de emisiones avanzadas

Ingeniería especializada y fuerza laboral técnica

A partir de 2023, SunCoke Energy emplea a aproximadamente 700 profesionales a tiempo completo en sus operaciones, con:

• 62% de personal técnico e de ingeniería
• Experiencia de la industria promedio de 15 años
• Más de $ 3.5 millones invertidos en capacitación anual de empleados

Contratos de suministro a largo plazo

Los acuerdos actuales de suministro de carbón metalúrgico incluyen:

Pareja	Duración del contrato	Volumen anual
ArcelorMittal	2022-2027	2.3 millones de toneladas
Cleveland Cliffs	2023-2028	1.8 millones de toneladas

Extensos equipos industriales y maquinaria

Inversión total de capital en activos industriales: $ 1.2 mil millones, incluyendo:

• 35 baterías de horno de coque
• Equipo de manejo de carbón especializado
• Infraestructura de control de emisiones avanzadas

SunCoke Energy, Inc. (SXC) - Modelo de negocio: propuestas de valor

Coca-Cola metalúrgica de alta calidad para la producción de acero

Suncoke Energy produce aproximadamente 6.2 millones de toneladas de coca cola metalúrgica anualmente. La compañía opera cinco instalaciones de cocción con capacidad de producción anual total de 4,2 millones de toneladas de coca cola.

Ubicación de la instalación	Capacidad de producción anual de Coca -Cola	Clientes de la industria del acero
Harbour de Indiana, en	1.6 millones de toneladas	ArcelorMittal
Middletown, oh	1.1 millones de toneladas	Acero
Granite City, IL	1.5 millones de toneladas	Acero estadounidense

Procesos de cocción ambientalmente sostenibles

El bosque del sol reduce las emisiones de CO2 en un 30% en comparación con los métodos de coque tradicionales. La inversión ambiental de la compañía suma $ 72.3 millones en tecnologías sostenibles.

Cadena de suministro industrial confiable y consistente

SunCoke mantiene una tasa de entrega a tiempo de 98.5% a los clientes de fabricación de acero. La cadena de suministro de la compañía sirve a más de 12 centros de producción de acero principales en América del Norte.

Soluciones de conversión de carbón rentables

La compañía logra la eficiencia de conversión de carbón del 85%, con ahorros de costos operativos de $ 24.7 por tonelada de coca producida.

Métrico de costo	Valor
Costo de entrada de carbón	$ 110 por tonelada
Precio de venta de coca	$ 220 por tonelada
Margen bruto	50.2%

Servicios integrados de energía y material industrial

SunCoke genera $ 1.2 mil millones en ingresos anuales a partir de servicios integrados de energía y material. La compañía atiende múltiples sectores industriales más allá de la producción de acero.

• Servicios de generación de energía
• Producción de gas industrial
• Sistemas de recuperación de subproductos

SunCoke Energy, Inc. (SXC) - Modelo de negocios: relaciones con los clientes

Contratos industriales a largo plazo con fabricantes de acero

SunCoke Energy mantiene contratos con fabricantes de acero clave, incluidos ArcelorMittal, United States Steel Corporation y Cliffs Natural Resources. A partir de 2023, la cartera de contratos de la compañía representa aproximadamente 4,2 millones de toneladas de capacidad de producción anual de coque.

Cliente	Duración del contrato	Volumen de producción anual
ArcelorMittal	Contrato de 10 años	1.5 millones de toneladas
Acero de los Estados Unidos	Contrato de 8 años	1.2 millones de toneladas
Recursos naturales de acantilados	Contrato de 7 años	1.5 millones de toneladas

Soporte técnico y servicios de consulta

SunCoke ofrece soporte técnico integral con un equipo dedicado de 42 profesionales de ingeniería y técnicos. La compañía invierte aproximadamente $ 3.2 millones anuales en consultas técnicas y infraestructura de soporte.

Soluciones de producción de Coca -Cola personalizadas

La compañía ofrece soluciones de producción a medida de Coca -Cola con Capacidad de personalización del 99.7% para clientes industriales. Las opciones de personalización incluyen:

• Especificaciones específicas de contenido de carbono
• Variaciones de grado metalúrgico
• Optimización de tamaño y densidad
• Procesamiento térmico avanzado

Rendimiento continuo y monitoreo de calidad

Suncoke implementa un monitoreo de calidad riguroso con las siguientes métricas:

Parámetro de calidad	Frecuencia de monitoreo	Tasa de cumplimiento
Contenido de carbono	Cada hora	99.5%
Contenido de cenizas	A diario	99.2%
Nivel de humedad	Continuo	99.8%

Asociaciones de innovación tecnológica colaborativa

SunCoke Energy colabora con 7 instituciones de investigación y socios de tecnología, invirtiendo $ 4.5 millones anuales en iniciativas de desarrollo tecnológico conjunto. Las áreas actuales de enfoque de asociación incluyen:

• Tecnologías avanzadas de reducción de emisiones
• Mejoras de eficiencia energética
• Métodos de producción sostenible de Coca -Cola
• Integración de la economía circular

SunCoke Energy, Inc. (SXC) - Modelo de negocio: canales

Equipos directos de ventas industriales

El equipo de ventas directas de SunCoke Energy se centra en los mercados de coque metalúrgicos industriales, específicamente dirigida a los fabricantes de acero.

Métrica del equipo de ventas	2023 datos
Representantes de ventas industriales totales	24
Cobertura de ventas anual	América del Norte, Brasil
Valor de contrato promedio	$ 8.3 millones

Plataformas de adquisición en línea

SunCoke utiliza canales de adquisición digital para interacciones eficientes del cliente.

• Volumen de transacción de plataforma en línea: $ 127.6 millones en 2023
• Tasa de participación del cliente de la plataforma digital: 62%
• Número de clientes industriales registrados: 86

Conferencias de la industria y exposiciones comerciales

Participación de la conferencia	2023 detalles
Conferencias totales a las que asistió	7
Nuevos clientes potenciales generados	43
Inversión total en exhibición	$612,000

Compromisos de consultoría técnica

SunCoke ofrece servicios especializados de consultoría técnica a clientes industriales.

• Ingresos de consultoría: $ 4.2 millones en 2023
• Proyectos de consultoría totales completados: 22
• Duración promedio del proyecto: 6.4 meses

Redes estratégicas de desarrollo de negocios

Métrico de red	2023 datos
Asociaciones estratégicas	11
Ingresos de colaboración en red	$ 36.7 millones
Nuevas conexiones de red	4

SunCoke Energy, Inc. (SXC) - Modelo de negocio: segmentos de clientes

Empresas de fabricación de acero

SunCoke Energy sirve a los principales fabricantes de acero con capacidades de producción de coque.

Cliente	Producción anual de Coca -Cola (toneladas)	Valor de contrato
ArcelorMittal	2.4 millones	$ 378 millones
Cleveland Cliffs	1.8 millones	$ 265 millones

Productores de acero integrados

Productores de acero integrados clave en la cartera de clientes de SunCoke:

• US Steel Corporation
• Corporación nucor
• Steel Dynamics Inc.

Actores de la industria metalúrgica global

Los clientes metalúrgicos internacionales incluyen:

Región	Número de clientes	Valor total del contrato
América del norte	12	$ 1.2 mil millones
Europa	5	$ 450 millones

Consumidores de energía industrial

SunCoke ofrece soluciones de energía a los sectores industriales:

• Operaciones de alto horno
• Procesamiento metalúrgico
• Aplicaciones industriales de alta temperatura

Empresas de fabricación a gran escala

Desglose del segmento de fabricación:

Sector industrial	Número de clientes	Contribución anual de ingresos
Fabricación automotriz	8	$ 210 millones
Fabricación de equipos pesados	6	$ 175 millones

SunCoke Energy, Inc. (SXC) - Modelo de negocio: Estructura de costos

Gastos de adquisición de carbón

Para el año fiscal 2023, los costos de adquisición de carbón de SunCoke Energy totalizaron $ 438.7 millones. La compañía obtuvo aproximadamente 5,2 millones de toneladas de carbón metalúrgico y térmico de varios proveedores.

Tipo de carbón	Volumen de adquisición anual	Costo por tonelada
Carbón metalúrgico	3.6 millones de toneladas	$ 82.50/tonelada
Carbón térmico	1.6 millones de toneladas	$ 45.30/tonelada

Mantenimiento de instalaciones industriales

SunCoke Energy asignó $ 87.3 millones para el mantenimiento de las instalaciones industriales en 2023, lo que representa el 4.2% de los gastos operativos totales.

• Mantenimiento de instalaciones de Cokemaking: $ 62.4 millones
• Mantenimiento de la infraestructura logística: $ 24.9 millones

Costos de la fuerza laboral laboral y técnica

Los gastos laborales totales para 2023 fueron de $ 153.6 millones, que cubren 1,142 empleados a tiempo completo.

Categoría de empleado	Salario anual promedio	Costo de mano de obra total
Personal técnico	$95,000	$ 86.2 millones
Personal administrativo	$75,000	$ 67.4 millones

Infraestructura de energía y procesamiento

Los costos de infraestructura de energía y procesamiento para 2023 ascendieron a $ 212.5 millones.

• Consumo de electricidad: $ 48.7 millones
• Uso de gas natural: $ 39.2 millones
• Costos operativos del equipo: $ 124.6 millones

Inversiones de investigación y desarrollo

SunCoke Energy invirtió $ 16.4 millones en investigación y desarrollo durante 2023.

Área de enfoque de I + D	Monto de la inversión
Mejoras de eficiencia del proceso	$ 9.6 millones
Tecnología ambiental	$ 6.8 millones

SunCoke Energy, Inc. (SXC) - Modelo de negocios: flujos de ingresos

Ventas de Coca -Cola Metalúrgica

En 2022, SunCoke Energy informó un volumen de ventas de Coca -Cola metalúrgica de 4,2 millones de toneladas. El precio promedio realizado para Coca -Cola metalúrgica fue de $ 254 por tonelada.

Año	Volumen de ventas de Coca -Cola	Precio promedio por tonelada	Ingresos totales
2022	4.2 millones de toneladas	$254	$ 1.067 mil millones

Contratos de servicio de procesamiento

Los ingresos por servicios de procesamiento para 2022 fueron de aproximadamente $ 215.6 millones, con contratos que sirven principalmente a clientes de fabricación de acero.

Ingresos de consultoría industrial

Los ingresos de consultoría en 2022 totalizaron $ 12.3 millones, centrándose en la optimización del proceso de producción de coque.

Tarifas de licencia de tecnología

La licencia de tecnología generó $ 5.7 millones en ingresos durante 2022, con propiedad intelectual relacionada con las tecnologías de producción de coque.

Venta de material de subproducto

Las ventas de subproductos en 2022 incluyen:

• Ventas de alquitrán de carbón: $ 24.5 millones
• Ventas de benceno: $ 18.2 millones
• Otros subproductos químicos: $ 9.3 millones

Subproducto	2022 ingresos por ventas
Alquitrán de carbón	$ 24.5 millones
Benceno	$ 18.2 millones
Otros productos químicos	$ 9.3 millones

SunCoke Energy, Inc. (SXC) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose SunCoke Energy, Inc. (SXC) over alternatives; these are the promises the company makes to its key stakeholders, grounded in its operational reality as of late 2025.

Reliable supply of high-quality coke for blast furnaces

SunCoke Energy, Inc. delivers an essential, high-specification raw material-coke-for blast furnace steel production and foundry cast iron. The company expects its domestic coke production for the full year 2025 to be approximately 3.9 million tons. For the third quarter of 2025 specifically, sales volumes for the Domestic Coke segment were 951,000 tons. The majority of these sales are locked in via long-term, take-or-pay contracts, which is the bedrock of supply stability. For instance, the Granite City cokemaking contract with U.S. Steel is secured through December 31, 2025. SunCoke Energy, Inc. operates facilities across the Americas, including sites in East Chicago, Indiana; Haverhill, Ohio; and Vitória, Brazil, all geared toward meeting customer quality specifications. It's a simple value: consistent, high-spec material when the steel mill needs it.

Environmentally advantaged cokemaking (average asset age ~25 years)

The company's asset base offers a significant environmental and efficiency edge compared to older facilities in the region. SunCoke Energy, Inc.'s cokemaking facilities boast an average age of approximately 24 years, which is substantially younger than the industry average. This modern profile means lower maintenance capital expenditure-projected at only $65 million for 2025-and easier adherence to stringent environmental rules. The technology employed sets the U.S. Environmental Protection Agency's (EPA) Maximum Achievable Control Technology (MACT) standard for heat-recovery cokemaking in the U.S. This translates directly into a superior environmental signature for customers who are increasingly focused on Scope 1 emissions reduction.

Here's a quick comparison of asset age:

Asset Group	Average Age (Years)	Year of Data Reference
SunCoke Energy, Inc. Cokemaking Assets	~24	2025 Guidance/Presentation Data
Other U.S./Canadian Capacity	~43	2025 Guidance/Presentation Data

Stable supply via long-term, take-or-pay contracts

Stability is a key deliverable, especially in commodity-linked businesses. SunCoke Energy, Inc. secures the bulk of its Domestic Coke sales through long-term, take-or-pay agreements with major integrated steelmakers, including Cleveland-Cliffs and U.S. Steel. This structure provides a stable revenue foundation, insulating a significant portion of the business from immediate spot market volatility. The company's full-year 2025 Consolidated Adjusted EBITDA guidance range of $220 million to $225 million is anchored by this contract stability, even while navigating customer-specific challenges, such as a contract breach that deferred approximately 200,000 tons of expected coke sales in Q3 2025.

Diversified, mission-critical industrial services for steelmakers

Beyond coke production, SunCoke Energy, Inc. provides mission-critical logistics and handling services. The Industrial Services segment, bolstered by the August 2025 acquisition of Phoenix Global, handles coal and other aggregates. The logistics terminals, including Convent Marine Terminal (CMT), Lake Terminal, and Kanawha River Terminals (KRT), collectively possess the capacity to mix and/or transload more than 40 million tons of material annually. These services are vital for the inbound supply chain of steelmakers and power customers.

• Handling and mixing of coal and aggregates.
• Transloading services to Gulf Coast, East Coast, and Great Lakes ports.
• Molten slag removal services (post-Phoenix Global acquisition).
• Logistics terminals storage capacity of approximately 3 million tons.

Capturing excess heat for steam or electrical power generation

The heat-recovery technology is a core differentiator, turning a waste product into a revenue stream and efficiency gain. At the East Chicago, Indiana facility, the Waste Heat to Power (WHP) Combined Heat and Power (CHP) system generates power from the coke-making process exhaust. This system produces enough electricity to power over 60,000 homes each year. Specifically, the system recovers waste heat to generate approximately 929,000 lb/hr of steam. This recovered energy offsets roughly 50% of the associated steel plant's process heating needs and about 25% of its power requirements. This fuel-free system lowers emissions, with the East Chicago site reducing CO2 emissions by 515,000 tons annually. The excess steam and electricity generated are sold directly to the customer or the grid.

Finance: draft 13-week cash view by Friday.

SunCoke Energy, Inc. (SXC) - Canvas Business Model: Customer Relationships

SunCoke Energy, Inc. maintains relationships heavily weighted toward long-term agreements, which is key to stabilizing capacity utilization for its cokemaking assets. The majority of coke sales are under long-term, take-or-pay contracts, insulating a significant portion of revenue from global coke price fluctuations.

Formal contract extension negotiations are a recurring, high-stakes activity, particularly with major integrated steel producers. For instance, the cokemaking contract at Granite City with U.S. Steel was extended through the end of 2025. The initial extension agreed upon in late 2024 was through June 30, 2025, supplying 295 thousand tons of coke during that initial six-month term. However, the economics of these extensions can be less favorable; Q3 2025 results specifically noted lower contract extension economics at Granite City impacting Domestic Coke Adjusted EBITDA.

When contract terms are breached, SunCoke Energy, Inc. moves to active legal enforcement. A material breach by a customer, identified as Algoma, resulted in the deferral and storage of approximately 200,000 tons of coke for the 2025 fiscal year. Management confirmed they are pursuing all legal remedies to recover any financial losses incurred from this breach. This single event had a significant, quantifiable impact, causing an unfavorable revision of $70 million to the 2025 free cash flow guidance, pushing the estimate to a range of negative $10 million to 0.

For the Industrial Services and Logistics segments, customer relationships are managed through standardized service delivery, often under contracts with guaranteed revenue structures. The newly integrated Phoenix Global business, acquired on August 1, 2025, operates under long-term contracts featuring contractually guaranteed fixed revenue and pass-through components. The company emphasizes its role as a reliable provider of mission-critical services to steelmaking customers.

Here's a quick look at the recent segment performance that reflects these customer service relationships:

• Domestic Coke sales volumes in Q3 2025 were 951,000 tons.
• Logistics terminals handled combined throughput volumes of 4,800,000 tons in Q2 2025.
• The Logistics segment anticipates similar volumes year-over-year for the 2025 outlook.
• The company declared its 25th consecutive quarterly cash dividend of $0.12 per share for December 1, 2025.

The financial contribution from these customer-facing segments in 2025 shows the diversification benefit:

Segment	Reporting Period	Adjusted EBITDA Amount	Relevant Metric/Volume
Domestic Coke	Q3 2025	$44.0 million	Sales volumes of 951,000 tons
Industrial Services (incl. Phoenix)	Q3 2025	$18.2 million	Up from $13.7 million prior year period
Logistics (Standalone)	Q2 2025	$7.7 million	Handled 4,800,000 tons throughput

The company's overall liquidity position as of September 30, 2025, stood at approximately $206 million, with total debt at $699 million. Finance: draft 13-week cash view by Friday.

SunCoke Energy, Inc. (SXC) - Canvas Business Model: Channels

Direct sales from cokemaking plants to domestic steel producers form the bedrock of SunCoke Energy, Inc.'s revenue generation, primarily through the Domestic Coke segment. This segment includes operations at the Jewell, Indiana Harbor, Haverhill, Granite City, and Middletown plants. For the third quarter of 2025, the Domestic Coke segment recorded revenues of $413.8 million, a decrease from $459.9 million in the prior year period. Sales volumes for this segment in Q3 2025 were 951,000 tons, down from 1,027,000 tons year-over-year. Full-year 2025 Domestic Coke total production is expected to be approximately 3.9 million tons. A key channel relationship is the cokemaking contract at Granite City with U.S. Steel, which was extended through the end of December 31, 2025.

Logistics terminals, specifically the Convent Marine Terminal (CMT) and Kanawha River Terminal (KRT), along with Lake Terminal, serve as critical channels for transloading and export services for coke, coal, steel, power, and other bulk customers. These logistics assets have the collective capacity to mix and transload more than 40 million tons of material annually. In Q2 2025, lower transloading volumes at CMT due to challenging market conditions contributed to a revenue decrease of $5.1 million for the Logistics segment compared to the prior year period. Management's initial full-year 2025 guidance projected Logistics adjusted EBITDA between $45 million and $50 million.

Direct service delivery at customer sites is now significantly bolstered by the Industrial Services segment, which includes the recently acquired Phoenix Global business. SunCoke Energy completed the acquisition of Phoenix Global on August 1, 2025, for $325 million. This channel saw a substantial increase in Q3 2025 revenues, surging to $64.1 million from $21.4 million in Q3 2024, reflecting two months of Phoenix Global results. The acquisition is intended to expand and diversify the customer base and enhance industrial services capabilities for steelmaking customers.

The seaborne market facilitates international coke sales, as SunCoke Energy exports its high-quality product to overseas blast furnace operators. While specific export volumes aren't detailed quarterly, the overall business context shows a shift. The company's Trailing Twelve Month (TTM) revenue as of September 30, 2025, stood at $1.84B. Analyst projections for the full-year 2025 revenue, reflecting challenging spot coke market conditions and an oversupply in the seaborne market, anticipated a decline to $1.56 billion.

Here's a quick look at the financial scale across these channels as of late 2025 data points:

Channel/Segment	Key Metric	Value (Latest Reported/Guidance)
Direct Domestic Coke Sales	Q3 2025 Revenue	$413.8 million
Direct Domestic Coke Sales	Q3 2025 Sales Volume	951,000 tons
Logistics Terminals (CMT, KRT, Lake)	Collective Transload Capacity	More than 40 million tons annually
Logistics Terminals	Initial FY 2025 Logistics Adjusted EBITDA Guidance	$45 million to $50 million
Industrial Services (Post-Acquisition)	Q3 2025 Revenue	$64.1 million
Industrial Services (Post-Acquisition)	Phoenix Global Acquisition Cost	$325 million
Seaborne Market / Total Company	TTM Revenue (as of 9/30/2025)	$1.84B

The primary means of reaching steel producers include:

• Long-term, take-or-pay contracts for blast furnace coke supply.
• Spot market sales for immediate or near-term coke requirements.
• Contract extensions, such as the one with U.S. Steel at Granite City through December 31, 2025.

The logistics operations utilize their terminals to serve multiple end-markets:

• Handling and mixing services for coke and coal.
• Transloading capabilities reaching the Gulf Coast, East Coast, and Great Lakes ports.
• New take-or-pay coal handling agreement execution at Kanawha River Terminal.

SunCoke Energy, Inc. (SXC) - Canvas Business Model: Customer Segments

You're looking at the core customer base for SunCoke Energy, Inc. (SXC) as of late 2025, which is heavily concentrated in the steel and industrial materials sectors. The business model clearly segments its focus across domestic steel, international operations, and growing industrial services.

The company's primary revenue drivers remain tied to the health of the North American steel industry, though the recent acquisition of Phoenix Global is diversifying this exposure into broader industrial services.

Here is a look at the key customer groups and their associated financial scale based on the latest available 2025 figures:

Customer Segment	Primary Service/Product	Relevant 2025 Financial/Operational Data	Period/Context
Domestic blast furnace steel producers	Metallurgical Coke Supply	Domestic Coke Segment Revenue: $413.8 million	Three Months Ended September 30, 2025
Domestic blast furnace steel producers	Metallurgical Coke Supply	Revenue from Cliffs Steel: $250.7 million	Three Months Ended June 30, 2025
Domestic blast furnace steel producers	Metallurgical Coke Supply	Contract extension with U.S. Steel at Granite City through December 31, 2025	As of Q3 2025
Global steel producers requiring on-site industrial services	Industrial Services (including Phoenix Global)	Industrial Services Segment Revenue: $64.1 million	Three Months Ended September 30, 2025
International/Overseas steelmakers	Coke Supply (Brazil Operation)	Brazil Coke Revenues: $7.8 million	Three Months Ended March 31, 2025
Electric utility and other bulk material customers	Logistics (Coal/Aggregate Handling)	Logistics terminals volumes did not recover to expected degree	Three Months Ended September 30, 2025

The core of the business is clearly the supply of coke to domestic producers, which forms the bulk of the company's top line. For instance, the Domestic Coke segment's revenue for the third quarter of 2025 was $413.8 million, despite pressures from contract mix changes.

The company's customer base is further defined by the specific operations serving them:

• Domestic blast furnace steel producers: These customers utilize coke from facilities like Jewell, Indiana Harbor, Haverhill, Granite City, and Middletown plants.
• International/Overseas steelmakers: This group is served partly by the Brazil Coke facility, which operates for an affiliate of ArcelorMittal.
• Foundry producers: These customers use SunCoke Energy, Inc.'s high-quality coke in casted iron manufacturing.
• Electric utility and other bulk material customers: These are served by the Logistics segment, which handles coal and other aggregates at terminals like CMT, Lake Terminal, and KRT.
• Global steel producers requiring on-site industrial services: This is a growing segment, significantly boosted by the August 1, 2025, acquisition of Phoenix Global.

The full-year 2025 outlook reflects the combined customer base, with Domestic Coke production anticipated to be approximately 3.9 million tons, while the consolidated Adjusted EBITDA guidance is set between $220 million and $225 million.

SunCoke Energy, Inc. (SXC) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive SunCoke Energy, Inc.'s operations as of late 2025, especially after integrating the Phoenix Global acquisition and navigating market headwinds.

Cost of products sold (primarily coal and operating expenses)

The primary ongoing cost is the Cost of products sold and operating expenses. For the first six months ended June 30, 2025, these costs decreased compared to the same prior year periods. This decrease was mainly due to lower pricing in the Domestic Coke segment, the impact of the Granite City contract extension economics, and the pass-through of lower coal prices on long-term contracts. The Domestic Coke segment saw revenues decline to $413.8 million in the third quarter of 2025, down from $459.9 million year-over-year, reflecting these underlying cost and pricing pressures.

Here's a look at the operational context influencing these costs, based on Q3 2025 performance:

Metric	Q3 2025 Value (Millions USD)	Comparison Point
Consolidated Adjusted EBITDA	$59.1	Down from $75.3 million in Q3 2024
Domestic Coke Adjusted EBITDA	$44.0	Down from $58.1 million in Q3 2024
Domestic Coke Sales Volumes	951,000 tons	Down from 1,027,000 tons in Q3 2024

Capital expenditures projected at approximately $70 million for 2025

SunCoke Energy, Inc. has a capital-intensive model, requiring significant investment. The latest full-year 2025 projection for capital expenditures is approximately $70 million. This figure was revised from an earlier projection of $65 million.

Selling, General, and Administrative (SG&A) expenses (includes acquisition costs)

What falls under general overhead and administrative costs, often categorized as Corporate and Other, shows fluctuations. You need to account for specific, non-recurring transaction costs as well. The costs related to the Phoenix Global acquisition were a notable expense.

• Corporate and Other expense for the second quarter of 2025 was $7.2 million.
• Corporate and Other expense for the third quarter of 2025 was $3.1 million.
• Transaction costs related to the Phoenix Global acquisition impacted Q2 2025 earnings by $5,200,000.
• Transaction and restructuring costs totaled $7.6 million in the third quarter of 2025.

Debt service and interest expense (following the $325 million Phoenix acquisition)

The acquisition of Phoenix Global was executed for $325 million on a cash-free, debt-free basis. This transaction, funded with cash and revolver borrowing, significantly altered the debt structure. The debt load increased substantially from the end of 2024.

• Total debt stood at $500 million as of Q2 2025.
• Total debt rose to $699 million as of September 30, 2025.
• The Q3 2025 gross leverage ratio was 3.05x, with a net leverage of 2.70x.

Interest expense is a direct function of this higher debt balance, though the exact dollar amount for the full year isn't explicitly stated here.

Costs associated with contract deferrals and legal actions

A major cost factor in the latter half of 2025 stems from a customer contract breach, which necessitates legal action and results in deferred revenue/cash flow. This is a direct, quantifiable hit to expected performance.

• Approximately 200,000 tons of coke sales were deferred due to a customer contract breach.
• This deferral is projected to have an unfavorable impact of $70 million on the full-year 2025 free cash flow guidance.
• The company is actively pursuing enforcement of the contract.

Finance: draft 13-week cash view by Friday.

SunCoke Energy, Inc. (SXC) - Canvas Business Model: Revenue Streams

SunCoke Energy, Inc.'s revenue streams are primarily derived from its Domestic Coke operations, supplemented by its growing Industrial Services segment, which now includes the Phoenix Global business acquired in 2025. The majority of coke sales are secured under long-term, take-or-pay contracts with integrated steelmakers at facilities like Indiana Harbor and Middletown. The Granite City cokemaking contract with U.S. Steel was extended through the end of 2025, albeit at lower economics. The mix of sales has been a key factor, with Q3 2025 results being impacted by an unfavorable mix of contract versus spot coke sales. A significant event impacting 2025 revenue visibility was the deferral of approximately 200,000 tons of blast furnace coke sales due to a breach of contract by a customer, identified as Algoma Steel.

The Industrial Services segment revenue is driven by handling and mixing services for coal and other aggregates at logistics terminals, including Convent Marine Terminal (CMT), Lake Terminal, and Kanawha River Terminals (KRT), plus the newly added mill services from Phoenix Global. In Q3 2025, this segment generated an Adjusted EBITDA of $18.2 million, reflecting two months of Phoenix Global results following its acquisition on August 1, 2025. The Logistics business specifically saw lower transloading volumes at CMT due to market conditions, though the segment is expected to contribute significantly to the full-year outlook.

Specific per-ton throughput fees for logistics and transloading are not explicitly detailed, but the Logistics segment's performance is tied to inbound tons handled. For the second quarter of 2025, the terminals handled combined throughput volumes of 4,800,000 tons. The Domestic Coke segment's revenue performance is also tied to production, with total production expected to be approximately 3.9 million tons for the full year 2025.

The overall financial expectations for the full year 2025 are anchored by the following guidance figures:

Metric	2025 Guidance Range
Consolidated Adjusted EBITDA	$220 million to $225 million
Consolidated Net Income	$48 million and $58 million

The segment-level guidance further breaks down the expected Adjusted EBITDA contribution to the consolidated total:

• Domestic Coke Adjusted EBITDA guidance for 2025 is set between $172 million to $176 million.
• Industrial Services segment guidance for 2025 Adjusted EBITDA is set to $63 million to $67 million.

To give you a snapshot of the segment performance driving these streams in the third quarter of 2025:

• Domestic Coke Adjusted EBITDA was $44 million on sales volumes of 951,000 tons.
• Industrial Services Adjusted EBITDA was $18.2 million.

Finance: draft 13-week cash view by Friday.