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Suncoke Energy, Inc. (SXC) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Suncoke Energy, Inc.

CIK: 1514705 Ticker: SXC

Exhibit 99.1

 

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Investors and Media:

Andy Kellogg & Kory Kutzke

(630) 824-1907

SUNCOKE ENERGY, INC. ANNOUNCES STRONG FULL-YEAR 2018 RESULTS ABOVE GUIDANCE RANGE AND PROVIDES GUIDANCE FOR FURTHER GROWTH IN 2019

 

   

Net income attributable to SXC was $1.8 million, or $0.03 per share, and $26.2 million, or $0.40 per share, in fourth quarter and full-year 2018, respectively

 

   

Operating cash flow was $185.8 million in full-year 2018, above our guidance of $150 million to $165 million; operating cash flow was $15.2 million in fourth quarter 2018

 

   

Full-year 2018 consolidated Adjusted EBITDA increased $28.5 million, or 12.1 percent, to $263.2 million, above our guidance range of $240 million to $255 million; fourth quarter Adjusted EBITDA was $65.9 million; 2018 results were fueled by a strong Indiana Harbor performance

 

   

Full-year 2019 consolidated Adjusted EBITDA expected to be $265 million to $275 million

LISLE, Ill. (February 5, 2019) - SunCoke Energy, Inc. (NYSE: SXC) (the “Company”) today reported fourth quarter and full-year 2018 results, reflecting strong operating performances from our coke and logistics businesses.

“Our fourth quarter results contributed to the Company’s highest annual Adjusted EBITDA performance since 2012 and illustrate the strength of our businesses as well as the continued progress on our asset performance improvement initiatives,” said Mike Rippey, President and Chief Executive Officer of SunCoke Energy, Inc. “In 2018, we delivered strong operating results, which included exceptional operational improvement at Indiana Harbor driven by sound execution on our oven rebuild initiative as well as record volumes at Convent Marine Terminal.”

Looking forward, the Company expects 2019 consolidated Adjusted EBITDA to be between $265 million and $275 million, reflecting continued improvement in our coke and logistics businesses.

In addition, the Company also announced it has entered into a definitive merger agreement with SunCoke Energy Partners, L.P. (NYSE: SXCP) whereby SXC will acquire all outstanding common units of SXCP not already owned by SXC in a stock-for-unit exchange transaction (“Simplification Transaction”). Pursuant to the terms of the merger agreement, SXCP unaffiliated common unitholders will receive 1.40 SXC common shares for each SXCP common unit.

Rippey continued, “As we move forward into 2019, we remain focused on operational excellence, including the execution of the final phase of the Indiana Harbor rebuild initiative, as well as successfully completing the Simplification Transaction, which we believe will unlock our full potential. We are confident that we can again execute against our objectives and deliver significant value to SunCoke shareholders.”


The following information was filed by Suncoke Energy, Inc. (SXC) on Tuesday, February 5, 2019 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 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
Consolidated Statements Of Comprehensive Income (Parenthetical)
Consolidated Statements Of Equity
Consolidated Statements Of Equity (Parenthetical)
Consolidated Statements Of Income
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)
Acquisition Of Noncontrolling Interest
Acquisition Of Noncontrolling Interest (Details)
Acquisition Of Noncontrolling Interest (Tables)
Asset Retirement Obligations
Asset Retirement Obligations (Details)
Asset Retirement Obligations (Tables)
Business Segment Information
Business Segment Information (Tables)
Business Segment Information - Adjusted Ebitda (Details)
Business Segment Information - Narrative (Details)
Business Segment Information - Segment Assets (Details)
Business Segment Information - Segment Profit Or Loss (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)
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) (Details)
Debt And Financing Obligation (Partnership Financing Obligation) (Details)
Debt And Financing Obligation (Partnership Notes) (Details)
Debt And Financing Obligation (Partnership Revolver) (Details)
Debt And Financing Obligation (Redemption Of 2019 Notes) (Details)
Debt And Financing Obligation (Revolving Facility) (Details)
Debt And Financing Obligation (Schedule Of Debt) (Details)
Debt And Financing Obligation (Schedule Of Long-Term Debt Maturity) (Details)
Debt And Financing Obligation (Tables)
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)
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 (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 (Narrative) (Details)
Income Taxes (Reconciliation Of Income Tax Expense To Us Statutory Rate) (Details)
Income Taxes (Tables)
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)
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 (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)
Revenue From Contracts With Customers
Revenue From Contracts With Customers - Disaggregated Sales And Other Operating Revenue (Details)
Revenue From Contracts With Customers (Tables)
Revenue From Contracts With Customers - Deferred Revenue (Details)
Revenue From Contracts With Customers - Narrative (Details)
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 (Restricted Stock Units And Performance Share Units Granted) (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)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies - Accounting Pronouncements (Details)
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policies)
Supplemental Condensed Combining And Consolidating Financial Information
Supplemental Condensed Combining And Consolidating Financial Information -Narrative (Details)
Supplemental Condensed Combining And Consolidating Financial Information (Tables)
Supplemental Condensed Combining And Consolidating Financial Information - Condensed Consolidating Balance Sheet (Details)
Supplemental Condensed Combining And Consolidating Financial Information - Condensed Consolidating Statement Of Cash Flows (Details)
Supplemental Condensed Combining And Consolidating Financial Information - Condensed Consolidating Statement Of Income (Details)
Ticker: SXC
CIK: 1514705
Form Type: 10-K Annual Report
Accession Number: 0001514705-19-000003
Submitted to the SEC: Fri Feb 15 2019 3:20:12 AM EST
Accepted by the SEC: Fri Feb 15 2019
Period: Monday, December 31, 2018
Industry: Steel Works Blast Furnaces And Rolling Mills Coke Ovens

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