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Suncoke Energy Partners, L.P. (SXCP) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Suncoke Energy Partners, L.P.

CIK: 1555538 Ticker: SXCP

Exhibit 99.1

 

LOGO     

Investors and Media:

Andy Kellogg & Kory Kutzke

(630) 824-1987

SUNCOKE ENERGY PARTNERS, L.P. ANNOUNCES FULL-YEAR 2018 RESULTS

AND PROVIDES 2019 GUIDANCE

 

   

Net income attributable to SXCP was $11.2 million and $57.5 million in fourth quarter and full-year 2018, respectively

 

   

Operating cash flow was $14.8 million and $162.8 million in the fourth quarter and full-year 2018, with Operating Cash Flow Coverage Ratio of 0.78x and 2.16x, respectively

 

   

Full-year 2018 Adjusted EBITDA attributable to SXCP of $209.4 million, was slightly below our guidance range of $210 million to $215 million; Adjusted EBITDA attributable to SXCP was $52.2 million in fourth quarter 2018

 

   

Full-year 2018 Distributable Cash Flow of $110.8 million and Distributable Cash Flow Coverage Ratio of 1.47x, in-line with our guidance range

 

   

Full-year 2019 Adjusted EBITDA attributable to SXCP guidance of $215 million to $225 million

LISLE, Ill. (February 5, 2019) - SunCoke Energy Partners, L.P. (NYSE: SXCP) (the “Partnership”) today reported fourth quarter and full-year 2018 results, which reflect continued strong throughput volumes at the Partnership’s Convent Marine Terminal (“CMT”) and solid performance from Middletown and Haverhill coke facilities, offset by an extended outage and machinery fire at Granite City.

“While the extended outage at Granite City, which we completed in November, impacted our fourth quarter and full-year 2018 results, we expect this will enhance the long-term reliability and operational performance of these assets,” said Mike Rippey, Chairman, President and Chief Executive Officer of SunCoke Energy Partners, L.P. “The other facilities across the SXCP portfolio continued to deliver strong results in 2018, including handling record volumes at CMT and solid operating performances from our Middletown and Haverhill coke facilities.”

Rippey continued, “As we move forward into 2019, we are focused on delivering operational excellence and the Partnership expects Adjusted EBITDA attributable to SXCP to be between $215 million and $225 million.”

In addition, the Partnership also announced it has entered into a definitive merger agreement with SunCoke Energy, Inc. (NYSE: SXC) 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.


The following information was filed by Suncoke Energy Partners, L.P. (SXCP) 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 Partners, L.P.'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 Equity
Consolidated Statements Of Operations
Business Segment Information
Business Segment Information (Adjusted Ebitda) (Details)
Business Segment Information (Segment Assets) (Details)
Business Segment Information (Segment Profit Or Loss) (Details)
Business Segment Information (Tables)
Commitments And Contingent Liabilities
Commitments And Contingent Liabilities (Future Minimum Annual Rentals) (Details)
Commitments And Contingent Liabilities (Narrative) (Details)
Commitments And Contingent Liabilities (Tables)
Customer Concentrations
Customer Concentrations (Narrative) (Details)
Customer Concentrations (Schedule Of Major 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 (Schedule Of Fiscal Year Maturities) (Details)
Debt And Financing Obligation (Schedule Of Long Term Debt) (Details)
Debt And Financing Obligation (Tables)
Fair Value Measurements
Fair Value Measurements (Details)
General
General (Details)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Components Of Definite-Lived Intangible Assets) (Details)
Goodwill And Other Intangible Assets (Goodwill) (Details)
Goodwill And Other Intangible Assets (Schedule Of Future Amortization Of Finite- Lived Intangible Assets) (Details)
Goodwill And Other Intangible Assets (Tables)
Income Taxes
Income Taxes (Components Of Income Taxes) (Details)
Income Taxes (Income Tax Expense Reconciliation) (Details)
Income Taxes (Narrative) (Details)
Income Taxes (Schedule Of Deferred Tax Assets And Liabilities) (Details)
Income Taxes (Tables)
Inventories
Inventories (Details)
Inventories (Tables)
Net Income Per Unit And Cash Distribution
Net Income Per Unit And Cash Distribution (Calculation Of Earnings Per Unit) (Details)
Net Income Per Unit And Cash Distribution (Calculation Of Net Income Allocated To The General And Limited Partners) (Details)
Net Income Per Unit And Cash Distribution (Distributions Percentage Allocations) (Details)
Net Income Per Unit And Cash Distribution (Net Income Per Unit And Cash Distribution) (Details)
Net Income Per Unit And Cash Distribution (Tables)
Net Income Per Unit And Cash Distribution (Unit Activity) (Details)
Properties, Plants, And Equipment, Net
Properties, Plants, And Equipment, Net (Details)
Properties, Plants, And Equipment, Net (Tables)
Related Party Transactions
Related Party Transactions (Allocated Expenses) (Details)
Related Party Transactions (Omnibus Agreement) (Details)
Related Party Transactions (Transactions With Affiliate) (Details)
Retirement And Other Post-Employment Benefits Plans
Retirement And Other-Post-Employment Benefits Plans (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)
Selected Quarterly Data (Details)
Selected Quarterly Data (Tables)
Selected Quarterly Data (Unaudited)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policies)
Ticker: SXCP
CIK: 1555538
Form Type: 10-K Annual Report
Accession Number: 0001555538-19-000003
Submitted to the SEC: Fri Feb 15 2019 3:28:47 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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