suncoke energy inc (SXC) Key Developments
SunCoke Energy Inc. Presents at 2015 Citigroup One-on-One MLP/Midstream Infrastructure Conference, Aug-19-2015
Aug 12 15
SunCoke Energy Inc. Presents at 2015 Citigroup One-on-One MLP/Midstream Infrastructure Conference, Aug-19-2015 . Venue: Encore at Wynn Las Vegas, 3121 Las Vegas Boulevard South, Las Vegas, NV 89109, United States.
SunCoke Energy, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Reaffirms Earnings and Production Guidance for the Full Year 2015
Jul 21 15
SunCoke Energy, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. The company reported second quarter 2015 loss attributable to shareholders of $13.5 million, or $0.21 per share, reflecting pension termination charges of $0.17 per share and lower cost recovery at Indiana Harbor facility. The second quarter 2014 net loss attributable to shareholders was $49.2 million, or $0.71 per share, including a Coal Mining impairment of $51.0 million, net of tax, or $0.74 per share. Total revenue was $348.2 million compared to $372.2 million a year ago. Operating income was $6.4 million compared to loss of $71.4 million a year ago. Loss before income tax benefit and loss from equity method was $6.6 million compared to $98.5 million a year ago. Total adjusted EBITDA was $33.4 million compared to $60.8 million a year ago. Adjusted EBITDA declined $27.4 million, primarily as a result of one-time, non-cash pension plan termination charges of $12.6 million and the absence of a one-time, non-cash gain of $4.5 million recorded in the prior year period. Adjusted EBITDA was further impacted by lower cost recovery at Indiana Harbor, net of lower spending, of $4.6 million and the timing of planned maintenance outages of approximately $4.0 million.
For the six months, total revenue was $672.2 million compared to $731.8 million a year ago. Operating income was $31.9 million compared to loss of $66.7 million a year ago. Loss before income tax benefit and loss from equity method was $4.4 million compared to $105.9 million a year ago. Net loss attributable to the company was $17.5 million or $0.27 per diluted share compared to $57.0 million or $0.82 per diluted share a year ago. Total adjusted EBITDA was $81.3 million compared to $94.6 million a year ago. Cash provided by operating activities was $76.6 million for year to date 2015 compared to $25.3 million in the same respective period of 2014. The increase primarily reflects improved operating performance, adjusted for non-cash items, in the current period and working capital changes associated with lower inventory levels. Capital expenditure was $22.5 million compared to $77.8 million a year ago.
The company reaffirmed its 2015 guidance excluding expected benefits of Convent Marine Terminal acquisition and Granite City 23% dropdown. Domestic coke production is expected to be approximately 4.3 million tons. Domestic coke adjusted EBITDA per ton is expected to be at the lower end of $55 per ton and $60 per ton range. Consolidated adjusted EBITDA is expected to be between $190 million to $210 million. Adjusted EBITDA attributable to the company is expected to be between $115 million and $130 million, reflecting the impact of public ownership in SunCoke Energy Partners, L.P. Capital expenditures are projected to be approximately $80 million. Cash generated by operations is estimated to be between $125 million and $145 million. Cash taxes are projected to be approximately $10 million. Net income will be in the range of $21 million to $38 million a year ago. Depreciation, depletion and amortization expense is expected to be $94 million. Interest expense will be in the range of $66 million to $64 million a year ago.
SunCoke Energy Inc. Declares Quarterly Cash Dividend Payable on September 10, 2015
Jul 16 15
The Board of Directors of SunCoke Energy Inc. declared a 100% increase in the cash dividend, raising the quarterly rate from $0.075 to $0.15 per share of common stock. This dividend will be payable on September 10, 2015, to stockholders of record at the close of business on August 19, 2015.
SunCoke Energy Inc. to Report Q2, 2015 Results on Jul 21, 2015
Jul 13 15
SunCoke Energy Inc. announced that they will report Q2, 2015 results at 9:00 AM, Eastern Standard Time on Jul 21, 2015
SunCoke Energy Inc. Reports Preliminary Production Results for the Second Quarter of 2015; Reaffirms Consolidated Adjusted EBITDA Guidance for the Full Year of 2015
Jul 9 15
SunCoke Energy Inc. reported preliminary production results for the second quarter of 2015. For the quarter, the company reported preliminary domestic coke production of 1,047,000 tons, down an estimated 12,000 tons. The decline largely reflects a pull forward in the timing of the 2015 planned maintenance outage at the Granite City facility as compared to prior year. Domestic capacity utilization for second quarter 2015 is estimated to be 99%, as compared to 100% in the same prior year period.
The company reaffirmed full year 2015 consolidated adjusted EBITDA attributable to company guidance of $190 million to $210 million.