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Suncoke Energy, Inc. (SXC) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

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 FIRST QUARTER 2020 RESULTS AND PROVIDES COVID-19 UPDATE

 

   

SunCoke deemed essential business in every state where it operates and all facilities remain open

 

   

Implemented proactive measures to protect the health and safety of our employees and contractors

 

   

First quarter 2020 net income attributable to SXC was $4.9 million, or $0.06 per share, compared to $9.8 million, or $0.15 per share, in the prior year period

 

   

Minimal COVID-19 impact on first quarter 2020 results; Adjusted EBITDA for the quarter was $62.1 million

 

   

Withdrawing 2020 guidance as we explore contract restructuring alternatives with our customers to address short-term market challenges

LISLE, Ill. (May 8, 2020) - SunCoke Energy, Inc. (NYSE: SXC) today reported results for the first quarter 2020 and provided updates on the Company

COVID-19 response.

“These are unprecedented times as the COVID-19 pandemic has affected every aspect of our society. SunCoke has taken effective measures to safeguard the health and safety of our workforce,” said Mike Rippey, President and Chief Executive Officer of SunCoke Energy, Inc. “As the pandemic unfolded, our internal COVID-19 task force took proactive steps implementing policies and procedures to protect our workforce and contractors which are consistent with guidelines laid out by the CDC, OSHA and local health and governmental authorities.”

Rippey continued, “While COVID-19 had limited impact on SunCoke in the first quarter, we recognize the challenging economic environment that exists today. Our customers have dramatically reduced blast furnace output resulting in lower demand for coke. We are currently exploring contract restructuring alternatives with our customers to address short-term market challenges. We value the strong relationships we have with our customers and look to flexibly work with them to navigate through the crisis. While our operations are performing well as evident from our first quarter results, we have made the decision to withdraw our 2020 guidance to reflect the potential for near-term supply relief for our customers. Going forward, we will continue to monitor the rapidly evolving situation and stand ready to take any necessary and appropriate action as the need arises.”


The following information was filed by Suncoke Energy, Inc. (SXC) on Friday, May 8, 2020 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 Income (Unaudited)
Consolidated Statements Of Equity (Unaudited)
Consolidated Statements Of Income (Unaudited)
Accrued Liabilities
Accrued Liabilities (Details)
Accrued Liabilities (Tables)
Acquisitions
Acquisitions (Narrative) (Details)
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 - Revolving Facility 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 (Details)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Tables)
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)
Income Taxes
Income Taxes (Details)
Inventories
Inventories (Details)
Inventories (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 - Narrative (Details)
Share-Based Compensation
Share-Based Compensation (Details Textual)
Share-Based Compensation (Tables)
Share-Based Compensation - Compensation Expense And Unrecognized Compensation Costs (Details)
Share-Based Compensation - Performance Share Units (Details)
Subsequent Events
Ticker: SXC
CIK: 1514705
Form Type: 10-Q Quarterly Report
Accession Number: 0001514705-20-000008
Submitted to the SEC: Fri May 08 2020 11:56:47 AM EST
Accepted by the SEC: Fri May 08 2020
Period: Tuesday, March 31, 2020
Industry: Steel Works Blast Furnaces And Rolling Mills Coke Ovens

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