11/6/2020

speaker
Conference Operator
Operator

Ladies and gentlemen, thank you for standing by and welcome to the Suncoke Energy Incorporated Q3 2020 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during this time, you will need to press star then one on your telephone. If you require any further assistance, please press star zero and an operator will come back on to assist you. I would now like to hand the conference over to Mr. Sean Penu Agarwal. Please begin.

speaker
Shantanu P. Agarwal
Investor Relations

Hello. Good morning, and thank you for joining us to discuss Suncook Energy's third quarter 2020 earnings. With me today are Mike Rippey, President and Chief Executive Officer, and Fay West, 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 don't 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 Mike, 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 Mike.

speaker
Mike Rippey
President and Chief Executive Officer

Thanks, Shantanu. Good morning, and thank you all for joining us today. Let me start with an update on our ongoing response to the COVID-19 pandemic. We continue to take all necessary measures to ensure the health and safety of our workforce and have implemented policies and procedures that follow the guidelines established by the CDC, OSHA, and local health and governmental authorities to protect our workforce and contractors. Our COVID-19 task force continually monitors and evaluates the evolving situation and responds and adjusts as the environment develops. Turning to our third quarter performance, coke making operations performed well despite operating at turn down levels. All of our facilities demonstrated excellent cost discipline and delivered results in line with our expectations despite the challenging macro environment. Another significant achievement for Suncoast during the quarter was the extension of the Haverhill 2 contract with AK Steel for an additional two years. That contract now expires on June 30th, 2025. This extension further illustrates the strength and long-term nature of our relationships with our customers. During our previous quarter's earnings call, we announced that Sun Coke would enter the foundry Coke market. The testing, development, and capital deployment activities necessary for profitable Coke market, foundry Coke market production are going well, and we are excited to enter this new market with a high-quality product. We have tested our foundry Coke in cupolas with a number of potential customers, and the results have been very encouraging. we are now well positioned to profitably enter the Foundry Coke market in 2021. We continue to execute on our revised 2020 objectives and are well positioned to achieve our full-year adjusted EBITDA guidance. With that, I'll turn it over to Faye to review our third quarter earnings in detail. Faye?

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Investor presentation