NEW YORK SunCoke Energy Partners LP saw its attributable net income rise to $15.3 million during the first quarter from $12.4 million in the same year-ago period.
Quarterly revenue rose 4.6 percent to $184.9 million year on year on coke sales that gained 5.7 percent to 448,000 tonnes, while total coke production rose 3.3 percent.
Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) rose 41.2 percent to $41.5 million from $29.4 million in the corresponding 2012 period, the company said April 25.
The gain was driven by improved recovery in operating costs at the SunCoke Energy Inc. plant in Middletown, Ohio, and better coal-to-coke yield in Haverhill, Ohio.
Lisle, Ill.-based SunCoke Energy Partners is a master limited partnership that owns a 65-percent stake in SunCoke Energys Haverhill and Middletown coke production plants.
"We currently expect to increase our quarterly distribution rate by about 2.5 percent in the next quarter and anticipate an overall increase of about 7 percent for our fourth-quarter 2012 distribution, which will be paid in early 2014," chairman and chief executive officer Frederick "Fritz" Henderson said.
A version of this article was first published by AMM sister publication Steel First.