The Smarter Web Company Plc Q1 FY2024 Earnings Call

· Earnings call transcript and AI-powered summary

  • Net Income: $0.23 per share, up $0.04 from Q1 2023.
  • Adjusted EBITDA: $67.9 million vs. $67.1 million in Q1 2023, a 1.2% increase driven by higher blast coke sales and logistics terminal volumes.
  • Domestic Coke Segment: EBITDA of $61.4 million, with sales volumes of 996,000 tons. Guidance for FY 2024 re-affirmed at $238 million–$245 million adjusted EBITDA and ~4.1 million tons in sales.
  • Logistics Segment: EBITDA of $13 million, slightly down from $13.5 million in Q1 2023 due to lower volumes at Convent Marine Terminal (CMT). Domestic terminals handled 3.6 million tons—highest volume in 5 years—boosted by Baltimore port congestion. FY 2024 guidance remains unchanged at $30–$35 million adjusted EBITDA.
  • Liquidity: $470.1 million, with $120.1 million in cash. Gross leverage at 1.86x trailing 12-month EBITDA. Operating cash flow for the quarter was $10 million, impacted by $50 million in working capital timing, with FY guidance reaffirmed at $185–$200 million.
  • Capital Allocation: $9 million in dividends distributed; $15.5 million in CapEx for the quarter.
  • Full-Year 2024 Guidance Affirmed: Consolidated adjusted EBITDA between $240 million and $255 million.

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Operator: Good morning, everyone, and welcome to the SunCoke Energy First Quarter 2024 Earnings Call. My name is Angela, and I will be coordinating your call today. [Operator Instructions]. I will now hand you over to your host, Shantanu Agrawal. Vice President, Finance and Treasurer. Please go ahead. Shantanu Agrawal: Thanks, Angela. Good morning, and thank you for joining us this morning to discuss SunCoke Energy's First Quarter 2024 Results. With me today are Mike Rippey, Chief Executive Officer; Katherine Gates, President; and Mark Marinko, Senior Vice President and Chief Financial Officer. Following management's prepared remarks, we'll open the call for Q&A. This conference call is being webcast live on the Investor Relations section of our website, and a replay will be available later today. If we do not get to your questions on the call today, please feel free to reach out to our Investor Relations team. Before I turn things over to Katherine, let me remind you that the various remarks we make on today's call regarding future expectations constitute forward-looking statements. The cautionary language regarding forward-looking statements in our SEC filings apply to the remarks we make today. These documents are available on our website as are reconciliations to non-GAAP financial measures discussed on today's call. With that, I'll now turn things over to Katherine. Katherine Gates: Thanks, Shantanu. Good morning, and thank you for joining us on today's call. Before

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