suncoke energy inc (SXC) Key Developments
SunCoke Energy Inc. Presents at NAPTP 2015 MLP Investor Conference, May-21-2015 04:00 PM
May 19 15
SunCoke Energy Inc. Presents at NAPTP 2015 MLP Investor Conference, May-21-2015 04:00 PM. Venue: Hyatt Regency, Orlando, Florida, United States.
SunCoke Energy Inc. Replaces Ernst & Young LLP with KPMG LLP as Independent Registered Public Accounting Firm
May 8 15
Effective May 8, 2015, SunCoke Energy Inc. formally terminated the services of Ernst & Young LLP (EY) as the company’s independent registered public accounting firm. The dismissal of EY as the independent registered public accounting firm was approved by the Company’s Audit Committee. Effective May 8, 2015, in connection with the dismissal of EY, the company appointed KPMG LLP as the company’s new independent registered public accounting firm, following the approval of the Company’s Audit Committee, to audit the company’s financial statements for the company’s fiscal year ending December 31, 2015.
SunCoke Energy Inc. Entered into Third Amendment to the Credit Agreement
Apr 27 15
SunCoke Energy Inc. announced that on April 21, 2015 the company entered into Amendment No. 3 to the credit agreement, dated as of July 26, 2011, among the company, the banks and other financial institutions party thereto, and JPMorgan Chase Bank, N.A. as Administrative Agent. The third amendment: (i) allows certain credit agreement borrowings with a higher applicable margin than other revolving loans; (ii) modifies existing restrictive covenants governing the payment of dividends and other cash distributions in order to permit such restricted payments so long as the company maintains a maximum consolidated leverage ratio less than 2.00 to 1.00 and maintains a minimum total liquidity (cash and revolver capacity) of at least $75 million, after giving effect to any such payments; and (iii) reduces the maximum consolidated leverage ratio to 3.25 to 1.00, from 3.75 to 1:00. The third amendment became effective on April 21, 2015.
SunCoke Energy Inc. Reports Unaudited Consolidated Earnings Results for the Three Months Ended March 31, 2015; Reaffirms Earnings Guidance for the Full Year 2015
Apr 23 15
SunCoke Energy Inc. reported unaudited consolidated earnings results for the three months ended March 31, 2015. Loss from continuing operations attributable to shareholders of $2.0 million, or $0.03 per share, as compared to a loss of $1.8 million, or $0.02 per share, in the same prior year period, as improvement in coke making operations was offset by Granite City dropdown transaction and financing costs. Total revenues were $320.4 million against $352.5 million a year ago. Operating income was $27.6 million against $13.7 million a year ago. Capital expenditures were $8.3 million against $37.5 million a year ago. Net cash provided by continuing operating activities was $26.6 million against net cash used in continuing operating activities of $4.7 million a year ago. Adjusted EBITDA from continuing operations increased $9.6 million to $49.1 million, resulting from improved coke and coal logistics performance and lower corporate costs.
The company reaffirmed earnings guidance for the full year 2015. Adjusted EBITDA from continuing operations is expected to be between $225 million and $245 million. Capital expenditures are projected to be approximately $90 million. Cash generated by operations is estimated to be between $125 million and $145 million. Adjusted EBITDA attributable to SXC is expected to be between $115 million and $130 million, reflecting the impact of public ownership in SXCP.
SunCoke Energy Inc. Presents at Sanford C. Bernstein & Co.'s Industrials and Basic Materials Summit 2015, May-08-2015 09:15 AM
Apr 21 15
SunCoke Energy Inc. Presents at Sanford C. Bernstein & Co.'s Industrials and Basic Materials Summit 2015, May-08-2015 09:15 AM. Venue: New York, New York, United States.