NEW YORK SunCoke Energy Inc. drew red ink in the second quarter, primarily due to a $103.1-million impairment charge tied to the planned sale of its domestic coal mining business.
The Lisle, Ill.-based company posted a net loss of $49.2 million for the three months ended June 30 vs. net income of $5.7 million in the same period last year on sales that fell 7.8 percent to $372.2 million.
Domestic coke sales volumes of 1.06 million tons in the second quarter slipped 1.4 percent from 1.07 million tons a year earlier. The company expects U.S. coke production to reach 4.2 million tons this year, it said.
SunCokes board recently approved the sale of its coal mining assets (amm.com, July 23).