Stock Track | SunCoke Energy Stock Drops Despite Q2 Earnings Beat

Stock Track08-01

SunCoke Energy (NYSE: SXC) saw its stock price decline by 5.38% during intraday trading on Wednesday, despite reporting better-than-expected financial results for the second quarter of 2024.

The company's revenue for the quarter came in at $470.9 million, exceeding analyst estimates by 4%. Additionally, SunCoke Energy's earnings per share (EPS) of $0.25 surpassed expectations by 16%.

However, the company's outlook for future revenue growth appears to be a concern for investors. While SunCoke Energy's revenue and earnings beat expectations in Q2, the company's revenue is expected to decline by an average of 11% per annum over the next three years. This contrasts with the overall growth projection of 5.2% for the Metals and Mining industry in the US.

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