v3.26.1
Business Segment Information (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Adjusted EBITDA Reportable Segments and Depreciation and Amortization Expense and Capital Expenditures and Segment Assets
The following tables include Adjusted EBITDA reportable segments, as defined above, which is a measure of segment profit or loss reported to the CODM for purposes of allocating resources to the segments and assessing their performance.
Three Months Ended June 30, 2026
(Dollars in millions)
Domestic CokeIndustrial Services
Total
Sales and other operating revenue$367.5 $98.4 $465.9 
Intersegment revenues— 5.8 5.8 
Net revenues367.5 104.2 471.7 
Reconciliation of revenue
Corporate and Other9.4 
Elimination of intersegment revenues(5.8)
Total consolidated revenues475.3 
Less:(1)
Operating and maintenance expense74.3 60.5 
Cost of products sold and other expenses(2)
239.6 — 
Selling, general and administrative expenses11.1 9.3 
Adjusted EBITDA reportable segments42.5 34.4 76.9 
Depreciation and amortization expense39.9 
Interest expense, net(3)
8.5 
Restructuring costs(4)
0.3 
Site closure costs(5)
0.4 
Other corporate expenses(6)
7.3 
Income before income tax expense$20.5 
(1)The significant expense categories and amounts align with segment-level information that is regularly provided to the CODM.
(2)Cost of products sold and other expenses includes coal and transportation costs.
(3)Interest expense, net of $8.5 million reflects (i) consolidated interest expense of $9.4 million and (ii) consolidated interest income of $0.9 million.
(4)Restructuring costs include severance and other related charges primarily associated with the acquisition of Phoenix Global within the Industrial Services reportable segment.
(5)Reflects costs incurred associated with the shutdown of our Haverhill I cokemaking facility within the Domestic Coke reportable segment and the closure of certain Phoenix Global operating sites within the Industrial Services reportable segment.
(6)Other corporate expenses represents business expenses not allocated to the Company’s reportable segments as well as the Company's Brazil cokemaking operations and are included in Corporate, which is not a reportable segment.
Three Months Ended June 30, 2025
(Dollars in millions)
Domestic CokeIndustrial Services
Total
Sales and other operating revenue$410.4 $15.1 $425.5 
Intersegment revenues— 5.9 5.9 
Net revenues410.4 21.0 431.4 
Reconciliation of revenue
Corporate and Other8.6 
Elimination of intersegment revenues(5.9)
Total consolidated revenues434.1 
Less:(1)
Operating and maintenance expense71.2 13.0 
Cost of products sold and other expenses(2)
291.5 — 
Selling, general and administrative expenses7.2 0.3 
Adjusted EBITDA reportable segments40.5 7.7 48.2 
Depreciation and amortization expense28.6 
Interest expense, net(3)
5.4 
Other corporate expenses(4)
9.8 
Income before income tax expense$4.4 
(1)The significant expense categories and amounts align with segment-level information that is regularly provided to the CODM.
(2)Cost of products sold and other expenses includes coal and transportation costs.
(3)Interest expense, net of $5.4 million reflects (i) consolidated interest expense of $7.0 million and (ii) consolidated interest income of $1.6 million.
(4)Other corporate expenses represents business expenses not allocated to the Company’s reportable segments as well as the Company's Brazil cokemaking operations and are included in Corporate, which is not a reportable segment.
Six Months Ended June 30, 2026
(Dollars in millions)
Domestic CokeIndustrial ServicesTotal
Sales and other operating revenue$729.2 $183.8 $913.0 
Intersegment revenues— 11.3 11.3 
Net revenues729.2 195.1 924.3 
Reconciliation of revenue
Corporate and Other17.4 
Elimination of intersegment revenues(11.3)
Total consolidated revenues930.4 
Less:(1)
Operating and maintenance expense149.1 116.3 
Cost of products sold and other expenses(2)
485.0 — 
Selling, general and administrative expenses17.3 18.2 
Adjusted EBITDA reportable segments77.8 60.6 138.4 
Depreciation and amortization expense84.8 
Interest expense, net(3)
17.2 
Loss on derivative forward contracts0.3 
Restructuring costs(4)
0.6 
Site closure costs(5)
6.8 
Other corporate expenses(6)
12.5 
Income before income tax expense$16.2 
(1)The significant expense categories and amounts align with segment-level information that is regularly provided to the CODM.
(2)Cost of products sold and other expenses includes coal and transportation costs.
(3)Interest expense, net of $17.2 million reflects (i) consolidated interest expense of $19.4 million and (ii) consolidated interest income of $2.2 million.
(4)Restructuring costs include severance and other related charges primarily associated with the acquisition of Phoenix Global within the Industrial Services reportable segment.
(5)Reflects costs incurred associated with the shutdown of our Haverhill I cokemaking facility within the Domestic Coke reportable segment and the closure of certain Phoenix Global operating sites within the Industrial Services reportable segment.
(6)Other corporate expenses represents business expenses not allocated to the Company’s reportable segments as well as the Company's Brazil cokemaking operations and are included in Corporate, which is not a reportable segment.
Six Months Ended June 30, 2025
(Dollars in millions)
Domestic CokeIndustrial ServicesTotal
Sales and other operating revenue$816.2 $37.5 $853.7 
Intersegment revenues— 11.5 11.5 
Net revenues816.2 49.0 865.2 
Reconciliation of revenue
Corporate and Other16.4 
Elimination of intersegment revenues(11.5)
Total consolidated revenues870.1 
Less:(1)
Operating and maintenance expense142.3 27.0 
Cost of products sold and other expenses(2)
569.5 — 
Selling, general and administrative expenses14.0 0.6 
Adjusted EBITDA reportable segments90.4 21.4 111.8 
Depreciation and amortization expense57.4 
Interest expense, net(3)
10.6 
Other corporate expenses(4)
14.4 
Income before income tax expense$29.4 
(1)The significant expense categories and amounts align with segment-level information that is regularly provided to the CODM.
(2)Cost of products sold and other expenses includes coal and transportation costs.
(3)Interest expense, net of $10.6 million reflects (i) consolidated interest expense of $13.8 million and (ii) consolidated interest income of $3.2 million.
(4)Other corporate expenses represents business expenses not allocated to the Company’s reportable segments as well as the Company's Brazil cokemaking operations and are included in Corporate, which is not a reportable segment.
The following table sets forth the Company’s depreciation and amortization expense as well as its capital expenditures:
 
Three Months Ended June 30,Six Months Ended June 30,
 
2026202520262025
 (Dollars in millions)
Depreciation and amortization expense:
Domestic Coke$22.0 $24.9 $46.2 $50.0 
Industrial Services17.3 3.2 37.4 6.3 
Total reportable segments$39.3 $28.1 $83.6 $56.3 
Corporate and Other0.6 0.5 1.2 1.1 
Total depreciation and amortization expense$39.9 $28.6 $84.8 $57.4 
Capital expenditures:
Domestic Coke$7.9 $4.5 $15.1 $6.6 
Industrial Services7.4 8.0 16.7 10.7 
Total reportable segments$15.3 $12.5 $31.8 $17.3 
Corporate and Other0.6 0.1 1.1 0.2 
Total capital expenditures$15.9 $12.6 $32.9 $17.5 
The following table sets forth the Company's segment assets:
June 30, 2026December 31, 2025
(Dollars in millions)
Segment assets:
Domestic Coke$1,155.3 $1,174.5 
Industrial Services523.8 544.3 
Total reportable segments$1,679.1 $1,718.8 
Corporate and Other64.1 71.1 
Total assets$1,743.2 $1,789.9 
Schedule of Assets Disaggregated by Domestic and International
The following table sets forth the Company's segment assets disaggregated by domestic and international:
June 30, 2026December 31, 2025
(Dollars in millions)
Assets:
Domestic
$1,602.9 $1,650.9 
International
140.3 139.0 
Total assets$1,743.2 $1,789.9