Suncoke Energy, Inc. (SXC) 10K Annual Reports & 10Q SEC Filings

Net income attributable to SXC was $43.4 million, or $0.52 per share, for the full-year 2021; Net income attributable to SXC was $12.7 million, or $0.15 per share, in the fourth quarter 2021

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Full-year 2021 consolidated Adjusted EBITDA was $275.4 million, representing record-setting full year performance; Fourth quarter Adjusted EBITDA was $62.9 million

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Operating cash flow was $233.1 million for the full-year 2021, above our revised guidance of $209 million to $224 million

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Signed a 5 year take-or-pay coke contract with Algoma Steel beginning in 2022; average sales volume of 150,000 tons per year

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Full-year 2022 consolidated Adjusted EBITDA is expected to be $240 million to $255 million

LISLE, Ill. (February 1, 2022) - SunCoke Energy, Inc. (NYSE: SXC) (the “Company” or “SunCoke”) today reported fourth quarter and full-year 2021 results, reflecting record-setting performance from our cokemaking and logistics businesses.

“In 2021, we further demonstrated our operational and technical expertise by meaningfully expanding into the foundry and export coke markets and ensuring, our best-in-class assets continue to run at full capacity. With the backdrop of strong commodity markets and robust demand for our products and services, we delivered the highest Adjusted EBITDA results in the history of SunCoke.” said Mike Rippey, President and Chief Executive Officer of SunCoke Energy, Inc. “We also successfully refinanced the company’s debt, significantly reducing the cost of debt and extending debt maturities.”

Looking forward, the Company expects 2022 consolidated Adjusted EBITDA to be between $240 million and $255 million, driven by our Domestic Coke plants continuing to operate at full capacity.

Rippey continued, “As we enter 2022, we remain focused on executing against our objectives of world-class safety performance, operational excellence and balanced capital allocation. We delivered robust cash flows and made significant progress towards our capital allocation objectives in 2021, setting the stage for continued progress on our capital allocation priorities in 2022. Additionally, we will continue to work towards strengthening customer relationships in both cokemaking and logistics businesses. We are confident that we will execute against our objectives and deliver significant value to SunCoke stakeholders.”

The following information was filed by Suncoke Energy, Inc. (SXC) on Tuesday, February 1, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Suncoke Energy, Inc.'s 10-K Annual Report:

Financial - Expense Highlight
The decrease in selling, general and administrative expense primarily reflects lower legacy costs, which decreased $11.3 million in 2021 compared to 2020 as a result of valuation adjustments in both years primarily driven by changes in the discount rates on certain legacy liabilities.

Revenue - Product Highlight
(2)Revenues and Adjusted EBITDA increased as a result of favorable pricing at CMT driven by the strong export coal market.
Financial - Expense Highlight
This improvement was driven by the absence of foundry related research and development costs of $3.9 million and valuation adjustments as a result of changes in discount rates on certain legacy liabilities, which decreased legacy cost approximately $11.3 million as compared to the prior year.
Financial - Expense Highlight
Interest expense, net benefited from lower interest rates as a result of the debt refinancing that occurred during the second quarter of 2021 and lower average debt balances on the revolving facility.
Financial - Expense Highlight
Corporate and Other Corporate and Other expenses, which include costs related to our legacy coal mining business, decreased $13.2 million, or 32 percent, to $28.7 million in 2021 as compared to $41.9 million in 2020.
Revenue - Product
(4)Energy and other increased primarily...Read more
Revenue - Product
This strong Domestic Coke performance...Read more
Revenue - Product
Higher volumes and favorable pricing...Read more
Other - Other
Cash Used in Investing Activities...Read more
Revenue - Product
Logistics The following table explains...Read more
Financial - Cash Flow
The resulting undiscounted cash flows...Read more
Other - Other
Management believes Adjusted EBITDA is...Read more
Financial - Expense
The following table summarizes annual...Read more
Financial - Income
During 2020, income tax expense,...Read more
Other - Other
The Company concluded the impact...Read more
Revenue - Product
Our entry into and participation...Read more
Revenue - Geography
Brazil Coke Sales and other...Read more
Other - Other
The Company used the proceeds...Read more
Financial - Cash Flow
Cash Flow Summary The following...Read more
Other - Other
Restrictions during 2020 related to...Read more
Revenue - Product
These customer contract amendments reduced...Read more
Other - Other
As a result, during 2019,...Read more
Other - Other
Long-lived Assets Long-lived assets are...Read more
Other - Other
The impairment recognized is the...Read more
Legal - Other
The following table summarizes discount...Read more
Financial - Cash Flow
Key assumptions in our discounted...Read more
Financial - Expense
Ongoing capital expenditures do not...Read more
Revenue - Product
The improvements as compared to...Read more
Other - Other
Our future results and financial...Read more
Revenue - Product
Key assumptions in our goodwill...Read more
Other - Other
Excluding these discrete items, SunCoke's...Read more
Other - Other
This measure is not in...Read more
Other - Other
Segment Operating Data The following...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Suncoke Energy, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 10.4: Material Contract

Exhibit 10.5: Material Contract

Exhibit 10.8: Material Contract

Exhibit 10.9: Material Contract

Exhibit 10.11: Material Contract

Exhibit 21.1: Subsidaries Of The Registrant

Exhibit 22.1: Published Report Regarding Matters Submitted To Vote Of Security Holders

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 24.1: Power Of Attorney

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 95.1: Ex-95.1

Ticker: SXC
CIK: 1514705
Form Type: 10-K Annual Report
Accession Number: 0001514705-22-000004
Submitted to the SEC: Thu Feb 24 2022 3:28:20 PM EST
Accepted by the SEC: Thu Feb 24 2022
Period: Friday, December 31, 2021
Industry: Steel Works Blast Furnaces And Rolling Mills Coke Ovens

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Suncoke Energy, Inc. (SXC) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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