SunCoke Energy (SXC) shares plummeted 6.84% in Wednesday's pre-market trading following the release of its first-quarter 2025 financial results. The significant drop comes as the metallurgical coke producer reported declines in both net income and Adjusted EBITDA compared to the same period last year.

For Q1 2025, SunCoke reported net income attributable to the company of $17.3 million, or $0.20 per diluted share, down from $20.0 million, or $0.23 per share, in Q1 2024. Adjusted EBITDA also decreased to $59.8 million from $67.9 million in the prior year period. The company primarily attributed these declines to challenges in its Domestic Coke segment, including lower contract extension economics at its Granite City facility and reduced spot coke sales volumes.

Despite the disappointing quarterly results, SunCoke reaffirmed its full-year 2025 guidance, maintaining its Consolidated Adjusted EBITDA forecast of $210 million to $225 million. The company also reported strong performance in its Logistics business, with increased transloading volumes at its Convent Marine Terminal. However, this positive development was not enough to offset investor concerns about the core coke business, leading to the significant pre-market stock decline.