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Suncoke Energy, Inc. (SXC) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

Suncoke Energy, Inc.

CIK: 1514705 Ticker: SXC

Exhibit 99.1

 

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Investors and Media:

Shantanu Agrawal

(630) 824-1907

SUNCOKE ENERGY, INC. REPORTS THIRD QUARTER 2019 RESULTS

 

   

Third quarter 2019 net loss attributable to SXC was $163.0 million, or $1.81 per share, reflecting the impact of non-cash impairment related charges at Logistics, net of taxes, of $174.8 million, or $1.94 per share. Excluding the non-cash charges, adjusted net income attributable to SXC was $11.8 million, or $0.13 per share.

 

   

Adjusted EBITDA for the quarter was $66.7 million, up $0.7 million versus the prior year period

 

   

Extinguished $50.0 million face value of outstanding 2025 Senior Notes; gross leverage at 3.0x (based on LTM EBITDA)

 

   

Beginning in early August, repurchased approximately 2.1 million shares during the third quarter under the existing share repurchase program

 

   

Board of Directors authorized a new $100 million share repurchase program. Repurchases under the new program may commence following completion of SunCoke’s existing repurchase program.

 

   

Lowering full-year 2019 Consolidated Adjusted EBITDA guidance range to $240 million to $250 million reflecting the chapter 11 bankruptcy filing by one of our CMT coal export customers

LISLE, Ill. (November 5, 2019) - SunCoke Energy, Inc. (NYSE: SXC) today reported results for the third quarter 2019, reflecting the continued strong performance of the Domestic Coke segment and customer challenges facing the Logistics segment.

“In the third quarter, cokemaking operations performed at a high level and delivered excellent results, partially driven by the success of our oven rebuild program at Indiana Harbor,” said Mike Rippey, President and Chief Executive Officer of SunCoke Energy, Inc. “In our Coal Logistics segment, we experienced a meaningful shift in the operating environment as one of the two coal export customer filed for bankruptcy and the other continues to explore potential restructuring alternatives. This development led us to lower our guidance for the full year and record a non-cash impairment charge in the current quarter.”

Rippey continued, “Going forward, while we navigate through these difficult market conditions, we remain committed to our logistics business and are continuing to optimize asset performance across our businesses to generate significant value for SunCoke stakeholders in the long term. Despite the challenges in our logistics business, we continue to deliver strong cash flows and are committed to prioritizing capital allocation, as demonstrated by the 2.1 million shares repurchased during the quarter and the new $100 million share repurchase authorization approved by our Board.”


The following information was filed by Suncoke Energy, Inc. (SXC) on Tuesday, November 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-Q Quarterly 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-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Cash Flows (Unaudited) (Parenthetical)
Consolidated Statements Of Comprehensive (Loss) Income (Unaudited)
Consolidated Statements Of Equity (Unaudited)
Consolidated Statements Of Equity (Unaudited) (Parenthetical)
Consolidated Statements Of Operations (Unaudited)
Accrued Liabilities
Accrued Liabilities (Details)
Accrued Liabilities (Tables)
Acquisitions
Acquisitions (Narrative) (Details)
Acquisitions (Non-Cash (Decreases) Increases Related To The Simplification Transaction) (Details)
Acquisitions (Schedule Of Non-Controlling Interest) (Details)
Acquisitions (Tables)
Business Segment Information
Business Segment Information (Details Textual)
Business Segment Information (Tables)
Business Segment Information - Adjusted Ebitda (Details)
Business Segment Information - Segment Assets (Details)
Business Segment Information - Segment Profit Or Loss (Details)
Commitments And Contingent Liabilities
Commitments And Contingent Liabilities (Details)
Debt And Financing Obligation
Debt And Financing Obligation - 2025 Senior Notes Narrative (Details)
Debt And Financing Obligation - Covenants Narrative (Details)
Debt And Financing Obligation - Maturities (Details)
Debt And Financing Obligation - Revolving Facility Refinancing Narrative (Details)
Debt And Financing Obligation - Schedule Of Debt (Details)
Debt And Financing Obligation (Tables)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Antidilutive Securities Excluded From Eps Calculation (Details)
Earnings Per Share - Computation Of Eps (Details)
Fair Value Measurement
Fair Value Measurement (Details)
General
General - Accounting Pronouncements (Details)
General (Details)
General (Policies)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Tables)
Goodwill And Other Intangible Assets - Future Amortization Expense (Details)
Goodwill And Other Intangible Assets - Goodwill Narrative (Details)
Goodwill And Other Intangible Assets - Gross And Net Intangible Assets (Details)
Goodwill And Other Intangible Assets - Intangible Assets Narrative (Details)
Goodwill And Other Intangible Assets - Schedule Of Goodwill (Details)
Income Taxes
Income Taxes (Details)
Inventories
Inventories (Details)
Inventories (Tables)
Leases
Leases (Tables)
Leases - Lease Expense (Details)
Leases - Maturities (Details)
Leases - Maturities, Prior Guidance (Details)
Leases - Narrative (Details)
Leases - Supplemental Balance Sheet Information (Details)
Leases - Supplemental Cash Flow Information (Details)
Leases - Weighted Average (Details)
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)
Share-Based Compensation
Share-Based Compensation (Details Textual)
Share-Based Compensation (Tables)
Share-Based Compensation - Assumptions Used In Calculating Award Value (Details)
Share-Based Compensation - Compensation Expense And Unrecognized Compensation Costs (Details)
Share-Based Compensation - Performance Share Units (Details)
Share-Based Compensation - Stock Options (Details)
Supplemental Condensed Consolidating Financial Information
Supplemental Condensed Consolidating Financial Information (Tables)
Supplemental Condensed Consolidating Financial Information - Consolidating Balance Sheet (Details)
Supplemental Condensed Consolidating Financial Information - Consolidating Statement Of Cash Flows (Details)
Supplemental Condensed Consolidating Financial Information - Consolidating Statements Of Operations (Details)
Supplemental Condensed Consolidating Financial Information - Textuals (Details)
Ticker: SXC
CIK: 1514705
Form Type: 10-Q Quarterly Report
Accession Number: 0001514705-19-000022
Submitted to the SEC: Tue Nov 05 2019 7:10:49 AM EST
Accepted by the SEC: Tue Nov 05 2019
Period: Monday, September 30, 2019
Industry: Steel Works Blast Furnaces And Rolling Mills Coke Ovens

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