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Suncoke Energy Partners, L.P. (SXCP) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

SEC Filings

Suncoke Energy Partners, L.P.

CIK: 1555538 Ticker: SXCP

Exhibit 99.1

 

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Investors and Media:

Andy Kellogg & Kory Kutzke

(630) 824-1987

SUNCOKE ENERGY PARTNERS, L.P. ANNOUNCES THIRD QUARTER 2018 RESULTS

 

   

Net income attributable to SXCP was $15.3 million and operating cash flow was $72.6 million in the third quarter 2018

 

   

Adjusted EBITDA attributable to SXCP was $53.8 million down $3.6 million versus the prior year period driven primarily by an outage at our Granite City facility

 

   

Declared third quarter 2018 distribution of $0.40 per unit

 

   

Reduced debt outstanding by $25 million in the third quarter

 

   

Revised full-year 2018 Adjusted EBITDA attributable to SXCP guidance range of $210 million to $215 million from the previous range of $215 million to $225 million

Lisle, Ill. (October 25, 2018) - SunCoke Energy Partners, L.P. (NYSE: SXCP) today reported results for the third quarter 2018, which reflect strong throughput volumes at the company’s Convent Marine Terminal and solid performance from Middletown and Haverhill coke facilities, offset by the timing and scope of an outage and unrelated machinery fire at Granite City.

Mike Rippey, President and Chief Executive Officer of SunCoke Energy Partners, L.P. commented, “We continue to be pleased with strong operating performance at CMT as our customers continue to leverage our unique capabilities to capitalize on the attractive export market and our Middletown and Haverhill coke facilities continue to perform in line with our expectations.”

Granite City began a planned outage during the quarter, in which the scope and duration increased materially versus original estimates. Our analysis revealed that additional improvements would benefit the facility and it was prudent to accelerate the timing of this work. Additionally, as discussed on the company’s second quarter earnings call, Granite City experienced a fire on a major piece of equipment which resulted in lost production and lower revenues during the third quarter. The incremental impact of these two events, which was not factored into the company’s full-year guidance, is approximately $9 million. As a result, full year 2018 Adjusted EBITDA attributable to SXCP guidance has been adjusted to range between $210 million to $215 million.

Rippey continued, “While we are disappointed to revise our full-year 2018 guidance as a result of incremental expense and lower revenue at Granite City, our focus has been, and always will be, on driving operational excellence and maximizing long-term performance at our facilities. Based on the expertise we have built across our fleet, it became a clear decision to increase the scope of the work at Granite City in order to improve the long-term reliability and operational performance of those assets.”


The following information was filed by Suncoke Energy Partners, L.P. (SXCP) on Thursday, October 25, 2018 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 Partners, L.P.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statement Of Equity (Unaudited)
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Operations (Unaudited)
Business Segment Disclosures
Business Segment Disclosures (Tables)
Business Segment Disclosures - Adjusted Ebitda (Details)
Business Segment Disclosures - Revenues, Expenses And Assets By Segment (Details)
Business Segment Disclosures - Segment Assets (Details)
Cash Distributions And Net Income Per Unit
Cash Distributions And Net Income Per Unit (Tables)
Cash Distributions And Net Income Per Unit - Allocation Of Net Income (Details)
Cash Distributions And Net Income Per Unit - Allocation Of Total Quarterly Cash Distributions To General And Limited Partners (Details)
Cash Distributions And Net Income Per Unit - Calculation Of Earnings Per Unit (Details)
Cash Distributions And Net Income Per Unit - Calculation Of Net Income Allocated To The General And Limited Partners (Details)
Cash Distributions And Net Income Per Unit - Distributions Percentage Allocations (Details)
Cash Distributions And Net Income Per Unit - Unit Activity (Details)
Commitments And Contingent Liabilities
Commitments And Contingent Liabilities (Details)
Debt And Financing Obligation
Debt And Financing Obligation - Narrative (Details)
Debt And Financing Obligation (Tables)
Debt And Financing Obligation - Schedule Of Long Term Debt (Details)
Fair Value Measurements
Fair Value Measurements (Details)
General
General (Details)
General (Policies)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Details Textual)
Goodwill And Other Intangible Assets (Tables)
Goodwill And Other Intangible Assets - Gross And Net Intangible Assets (Details)
Income Taxes
Income Taxes (Details)
Inventories
Inventories (Details)
Inventories (Tables)
Related Party Transactions And Agreements
Related Party Transactions And Agreements (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)
Ticker: SXCP
CIK: 1555538
Form Type: 10-Q Quarterly Report
Accession Number: 0001555538-18-000012
Submitted to the SEC: Thu Oct 25 2018 10:48:15 AM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Sunday, September 30, 2018
Industry: Steel Works Blast Furnaces And Rolling Mills Coke Ovens

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