SunCoke Bonds: 8.2% Yield From A Steel Industry Cash Flow Machine
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}(window));Seeking AlphaEarnings Analysis | Basic MaterialsSunCoke Bonds: 8.2% Yield From A Steel Industry Cash Flow MachineFeb. 7, 2020 3:40 PM ET|| About: SunCoke Energy, Inc. (SXC), Includes: CLF, MT, Xby: Left Brain Investment ResearchLeft Brain Investment Research Bonds, GrowthSummarySunCoke announced its most recent earnings on January 29, painting a mixed picture for investors.
Specifically, SunCoke has a strong domestic coke business, but a mightily struggling logistics business.
Despite the difficulties facing SunCoke, we find the company’s ability to generate Free Cash Flow compelling and remain constructive on the 2025 bonds, which have an 8.2% yield-to-maturity.
SunCoke (NYSE: SXC) announced its most recent earnings on January 29, painting a mixed picture for investors. SunCoke's largest business unit, its domestic coke business, showed strong EBITDA growth for FY 2019, while the logistics business, which focuses on coal for... Read more