SunCoke Energy Inc. Declares Cash Dividend, Payable on March 26, 2015
Feb 19 15
SunCoke Energy Inc. announced that its Board of Directors declared a cash dividend of $0.0585 per share of the Company’s common stock to be paid March 26, 2015, to stockholders of record at the close of business on March 5, 2015.
SunCoke Energy Inc. Continues Downsizing Coal Mining Business, Lays Off 150
Feb 3 15
SunCoke Energy Inc. is idling the Dominion No. 30 metallurgical coal mine and will convert the Dominion No. 7 and Dominion No. 34 mines to contractor-operated mines, part of a phased plan to scale down its coal mining business. The operational changes will impact about 150 employees, including some administrative and support staff, SunCoke spokesman Steve Carlson said Jan. 30. SunCoke also is evaluating the use of third-party suppliers to handle coal washing.
SunCoke Energy Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Announces Production Results for the Fourth Quarter Ended December 31, 2014; Provides Earnings and Production Guidance for the Full Year of 2015; Announces Impairment Charge for the Fourth Quarter of 2014
Jan 29 15
SunCoke Energy Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total revenues of $388.1 million against $388.0 million a year ago. Operating income was $30.8 million against $41.5 million a year ago. Income before income tax expense and income from equity method investment was $18.8 million against $29.2 million a year ago. Net loss attributable to the company was $65.4 million against net income of $11.0 million a year ago. Adjusted EBITDA from continuing operations increased $7.2 million to $70.0 million in fourth quarter 2014, benefiting from year-over-year improvement at Indiana Harbor. Improved performance at Indiana Harbor benefited in the quarter. Net loss from continuing operations attributable to shareholders was $25.3 million or $0.38 basic and diluted per share, down from $15.4 million or $0.22 basic and diluted per share in the same prior year period, due primarily to impairment charges related to its India joint venture and black lung charges.
For the year, the company reported total revenues of $1,472.7 million against $1,585.5 million a year ago. Operating income was $109.8 million against $136.5 million a year ago. Income before income tax expense and income from equity method investment was $46.6 million against $84.2 million a year ago. Net loss attributable to the company was $126.1 million against net income of $25.0 million a year ago. Net cash provided by operating activities was $130.0 million against $156.7 million a year ago, down $26.7 million from 2013, reflecting working capital changes largely due to the timing of accounts payable. Capital expenditures were $118.3 million against $132.3 million a year ago. Adjusted EBITDA from continuing operations rose $16.0 million to $237.8 million. Improved performance at Indiana Harbor benefited in the full year. The full year also benefited from the contribution of new Coal Logistics segment. Net loss from continuing operations attributable to shareholders was $20.1 million or $0.29 basic and diluted per share, compared to net income from continuing operations attributable to shareholders of $40.5 million or $0.58 basic and diluted per share for full year 2013.
For the quarter, the company reported domestic coke sales volumes of 1,103,000 tons against 1,047,000 tons a year ago. Coal tons handled was 4,301,000 tons against 3,649,000 tons a year ago.
For 2015, the adjusted EBITDA from continuing operations is expected to be between $225 million and $245 million. This outlook reflects its view for sustained solid operations in its Domestic Coke and Coal Logistics businesses and continued improvement at its Indiana Harbor facility, offset by the standalone cost impact to its Jewel Coke facility from the downsizing of its coal mining operations. Adjusted EBITDA attributable to SXC is expected to be between $115 million and $130 million, reflecting the impact of public ownership in SXCP. Consolidated Adjusted EBITDA including discontinued operations and legacy costs is expected to be $190 million to $210 million. Capital expenditures are projected to be approximately $90 million. Cash generated by operations is estimated to be between $125 million and $145 million. Cash taxes are projected to be between $10 million and $15 million. Domestic coke production is expected to be approximately 4.3 million tons.
Domestic coke production is expected to be approximately 4.3 million tons.
For the quarter, the company reported a $30.5 million non-cash impairment charge on investment in VISA SunCoke, Indian cokemaking joint venture.