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Suncoke Energy, Inc. (SXC) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2016

Suncoke Energy, Inc.

CIK: 1514705 Ticker: SXC

Exhibit 99.1

 

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SUNCOKE ENERGY, INC. ANNOUNCES FOURTH QUARTER AND FULL-YEAR 2016 RESULTS

AND PROVIDES FULL-YEAR 2017 GUIDANCE

 

    Net income attributable to SXC was $17.0 million, or $0.26 per share and $14.4 million, or $0.22 per share, in fourth quarter and full-year 2016, respectively

 

    Adjusted EBITDA increased $22.3 million to $77.3 million in fourth quarter 2016, primarily due to the recognition of CMT deferred revenue of $31.5 million

 

    Full-year 2016 Consolidated Adjusted EBITDA increased $31.6 million to $217.0 million and was in line with our 2016 guidance range of $210 million to $235 million

 

    De-levered consolidated SunCoke by approximately $145 million during full-year 2016 via open market debt repurchases and revolver pay-downs

 

    Full-year 2017 Consolidated Adjusted EBITDA guidance of $220 million to $235 million

LISLE, Ill. (January 26, 2017) - SunCoke Energy, Inc. (NYSE: SXC) today reported fourth quarter 2016 net income attributable to SXC of $17.0 million, or $0.26 per share, down $2.0 million versus the prior year period. Fourth quarter Consolidated Adjusted EBITDA was $77.3 million, up $22.3 million versus the prior year period primarily due to the recognition of CMT deferred revenue.

Full-year 2016 net income attributable to SXC was $14.4 million, or $0.22 per share, representing a $36.4 million increase versus the same prior year period. The Company delivered full-year 2016 Consolidated Adjusted EBITDA of $217.0 million, which was in line with its full-year guidance, and $31.6 million higher than full-year 2015.

“Fourth quarter and full-year results were in line with expectations, and again illustrate the ability for our coke and coal logistics segments to consistently generate stable results,” said Fritz Henderson, President, Chairman and Chief Executive Officer of SunCoke Energy, Inc. “In 2016, we set out to manage through the challenging market conditions that our customers faced while continuing to focus on de-levering our balance sheet and achieving our financial objectives. I am pleased that we have successfully delivered against these initiatives.”

Looking forward, the Company expects 2017 Consolidated Adjusted EBITDA to be between $220 million and $235 million. This outlook reflects higher Coal Logistics volumes and lower Corporate spending, partially offset by the impact of the continued oven work at the Company’s Indiana Harbor facility.

Henderson continued, “As we move into 2017, we are focused on executing against our 2017 objectives and delivering value to SunCoke shareholders.”


The following information was filed by Suncoke Energy, Inc. (SXC) on Thursday, January 26, 2017 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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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (parenthetical)
Consolidated Statements Of Comprehensive Income (loss)
Consolidated Statements Of Comprehensive Income (loss) (parenthetical)
Consolidated Statements Of Equity
Consolidated Statements Of Equity (parenthetical)
Consolidated Statements Of Operations
Accrued Liabilities
Accrued Liabilities (details)
Accrued Liabilities (tables)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (details)
Accumulated Other Comprehensive Loss (tables)
Accumulated Other Comprehensive Loss Reclassification Adjustments From Aoci (details)
Asset Retirement Obligations
Asset Retirement Obligations (details)
Asset Retirement Obligations (tables)
Business Segment Information
Business Segment Information (tables)
Business Segment Information - Adjusted Ebitda And Segment Assets (details)
Business Segment Information - Narrative (details)
Business Segment Information - Reconciliation Of Adjusted Ebitda To Net Income (details)
Business Segment Information - Sales And Other Operating Revenue By Product Or Service (details)
Business Segment Information - Total Legacy Costs (details)
Coal Mining Business Divestiture
Coal Mining Business Divestiture (details)
Commitments And Contingent Liabilities
Commitments And Contingent Liabilities (black Lung Benefit Liabilities) (details)
Commitments And Contingent Liabilities (lease Obligations) (details)
Commitments And Contingent Liabilities (legal Matters) (details)
Commitments And Contingent Liabilities (tables)
Convent Marine Terminal Acquisition
Convent Marine Terminal Acquisition (narrative) (details)
Convent Marine Terminal Acquisition (pro Forma Information) (details)
Convent Marine Terminal Acquisition (tables)
Customer Concentrations
Customer Concentrations (narrative) (details)
Customer Concentrations (sales And Receivables To Significant Customers) (details)
Customer Concentrations (tables)
Debt And Financing Obligation
Debt And Financing Obligation (covenants Narrative) (details)
Debt And Financing Obligation (details)
Debt And Financing Obligation (partnership Financing Obligation) (details)
Debt And Financing Obligation (partnership Revolver Narrative) (details)
Debt And Financing Obligation (partnership Term Loan) (details)
Debt And Financing Obligation (promissory Note Narrative) (details)
Debt And Financing Obligation (revolving Facility Narrative) (details)
Debt And Financing Obligation (schedule Of Long-term Debt Maturity) (details)
Debt And Financing Obligation (senior Notes Narrative) (details)
Debt And Financing Obligation (tables)
Dropdown Transactions
Dropdown Transactions (tables)
Dropdown Transactions - Effects Of Changes In Company's Ownership (details)
Dropdown Transactions - Granite City Dropdowns (details)
Dropdown Transactions - Haverhill And Middletown Dropdown (details)
Earnings Per Share
Earnings Per Share (tables)
Earnings Per Share - Antidilutive Shares Excluded From Eps Calculation (details)
Earnings Per Share - Weighted Average Number Of Shares (details)
Fair Value Measurements
Fair Value Measurements (certain Financial Assets And Liabilities Not Measured At Fair Value) (details)
Fair Value Measurements (financial Assets And Liabilities Measured At Fair Value On A Recurring Basis) (details)
Fair Value Measurements (non-financial Assets And Liabilities Measured At Fair Value On A Nonrecurring Basis) (details)
General And Basis Of Presentation
General And Basis Of Presentation (details)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (tables)
Goodwill And Other Intangible Assets - Goodwill (details)
Goodwill And Other Intangible Assets - Gross And Net Intangible Assets (details)
Goodwill And Other Intangible Assets - Narrative (details)
Goodwill And Other Intangible Assets - Schedule Of Future Amortization Expense (details)
Income Taxes
Income Taxes (narrative) (details)
Income Taxes (tables)
Income Taxes Components Of Income From Operations (details)
Income Taxes Components Of Income Tax Expense (details)
Income Taxes Components Of Net Deferred Tax Liability (details)
Income Taxes Reconciliation Of Income Tax Expense To Us Statutory Rate (details)
Inventories
Inventories (details)
Inventories (tables)
Properties, Plants And Equipment, Net (tables)
Properties, Plants, And Equipment, Net
Properties, Plants, And Equipment, Net - Components (details)
Properties, Plants, And Equipment, Net -narrative (details)
Restructuring
Restructuring (restructuring Charges) (details)
Restructuring (restructuring Reserve) (details)
Restructuring (tables)
Retirement Benefits Plans
Retirement Benefits Plans (amounts Recognized As Components Of Other Comprehensive (loss) Income) (details)
Retirement Benefits Plans (assumptions Used To Determine Defined Benefit Plan And Postretirement Benefit Plans Expense (benefit) (details)
Retirement Benefits Plans (components Of The Changes In Benefit Obligations And Fair Value Of Plan Assets) (details)
Retirement Benefits Plans (cumulative Amounts Not Yet Recognized In Net Income) (details)
Retirement Benefits Plans (defined Benefit Plan Expense (benefit) Components) (details)
Retirement Benefits Plans (discount Rate) (details)
Retirement Benefits Plans (expected Benefit Payments) (details)
Retirement Benefits Plans (narrative) (details)
Retirement Benefits Plans (postretirement Benefit Plans (benefit) Expense Components) (details)
Retirement Benefits Plans (tables)
Selected Quarterly Data (unaudited)
Selected Quarterly Data (unaudited) (details)
Selected Quarterly Data (unaudited) (tables)
Share-based Compensation
Share-based Compensation (assumptions Used To Calculate Value Of Stock Options) (details)
Share-based Compensation (compensation Expense And Unrecognized Compensation Costs) (details)
Share-based Compensation (equity Classified Awards Narrative) (details)
Share-based Compensation (liability Classified Awards Narrative) (details)
Share-based Compensation (stock Option And Performance Share Units Grants) (details)
Share-based Compensation (summary Of Rsus And Psus Outstanding) (details)
Share-based Compensation (summary Of Share-based Compensation Expense Narrative) (details)
Share-based Compensation (summary Of Stock Option Activity) (details)
Share-based Compensation (tables)
Subsequent Events
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (details)
Summary Of Significant Accounting Policies (policies)
Supplemental Condensed Consolidating Financial Information
Supplemental Condensed Consolidating Financial Information -narrative (details)
Supplemental Condensed Consolidating Financial Information (tables)
Supplemental Condensed Consolidating Financial Information - Condensed Consolidating Balance Sheet (details)
Supplemental Condensed Consolidating Financial Information - Condensed Consolidating Statement Of Cash Flows (details)
Supplemental Condensed Consolidating Financial Information - Condensed Consolidating Statement Of Operations (details)
Ticker: SXC
CIK: 1514705
Form Type: 10-K Annual Report
Accession Number: 0001514705-17-000001
Submitted to the SEC: Thu Feb 16 2017 2:55:08 PM EST
Accepted by the SEC: Thu Feb 16 2017
Period: Saturday, December 31, 2016
Industry: Steel Works Blast Furnaces And Rolling Mills Coke Ovens

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