Key Developments: SunCoke Energy Inc (SXC)
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24 May 2013
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$16.31
$16.18
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$16.01
181,119
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$13.13
Latest Key Developments (Source: Significant Developments)
SunCoke Energy Inc Reaffirms FY 2013 Earnings Guidance
SunCoke Energy Inc Reaffirmed its fiscal 2013 consolidated adjusted EBITDA and earnings per share (EPS) guidance of $205 million - $230 million and $0.30 - $0.55 per share, respectively. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $0.43 for fiscal 2013. Full Article
SunCoke Energy Inc And Visa Steel Ltd Announces Launch Of Joint Venture In India
SunCoke Energy Inc and Visa Steel Ltd announced the official launch of their coke making joint venture in India. The new joint venture will be called VISA SunCoke Limited. SunCoke Energy holds a 49% interest in the joint venture, with VISA Steel holding the remaining 51%. SunCoke has invested approximately INR368 Crores (USD67 million) to acquire a 49% stake in the joint venture. VISA SunCoke Limited is comprised of a 400,000 metric ton heat recovery coke plant, and the associated steam generation units at Kalinganagar in Odisha, India. SunCoke and VISA Steel will co-manage the business with equal representation on the partnership's Board. Full Article
SunCoke Energy Inc Issues FY 2013 Guidance
SunCoke Energy Inc announced that for fiscal 2013, it expects adjusted EBITDA between $205-$230 million on a consolidated basis and earnings per diluted share (EPS) between $0.30-$0.55 per diluted share. According to I/B/E/S Estimates, analysts are expecting the Company to report EBITDA of $217 million for fiscal 2013. Full Article
SunCoke Energy Inc Announces Launch Of SunCoke Energy Partners, L.P.'s Initial Public Offering
SunCoke Energy Inc announced that wholly owned subsidiary, SunCoke Energy Partners, L.P., a Delaware limited partnership (the Partnership) has launched initial public offering (IPO) of 13,500,000 common units representing limited partner interests pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (SEC). The Partnership will grant the underwriters a 30-day option to purchase up to an additional 2,025,000 common units at the IPO price, less underwriting discounts. The common units will be listed on the New York Stock Exchange under the ticker symbol SXCP. Barclays Capital Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC are acting as joint book-running managers for the offering. Evercore Group L.L.C., Goldman, Sachs & Co., RBC Capital Markets, LLC and UBS Securities are acting as co-managers for the offering. Full Article
SunCoke Energy Inc Narrows FY 2012 EBITDA Guidance To A Range In Line With Analysts' Estimates; Issues Q4 2012 EBITDA Guidance In Line With Analysts' Estimates-Conference Call
SunCoke Energy Inc announced that it is refining its adjusted EBITDA slightly to $255 million to $270 million range for fiscal 2012, which would imply $61 million to $76 million in the fourth quarter of 2012. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EBITDA of $263 million for fiscal 2012 and EBITDA of $73 million for the fourth quarter of 2012. Full Article
SunCoke Energy Inc Reaffirms FY 2012 Earnings Guidance
SunCoke Energy Inc announced that for fiscal 2012, it continue to expect to deliver between $250 million and $280 million in adjusted EBITDA and earnings per share (EPS) is expected to be between $1.30 and $1.65. According to I/B/E/S Estimates, analysts are expecting the Company to report adjusted EBITDA of $255 million and EPS of $1.37 for fiscal 2012. Full Article
SunCoke Energy Inc Approves Formation And IPO Of Master Limited Partner
SunCoke Energy Inc announced that its Board of Directors has approved the formation of a Master Limited Partnership (MLP) and the filing of a registration statement to effect the initial public offering (IPO) of the MLP. The key assets of the MLP are expected to be a portion of SunCoke Energy’s interests in each of its Haverhill and Middletown cokemaking facilities, located in Franklin Furnace, Ohio and Middletown, Ohio, respectively. SunCoke Energy would own the general partner of the proposed MLP, SunCoke Energy Partners, L.P., as well as all of the MLP incentive distribution rights and a portion of the units representing limited partner interests in the MLP. SunCoke Energy expects to close the IPO of the MLP not earlier than the fourth quarter of 2012. Concurrently with the closing of the IPO, SunCoke Energy expects to receive a cash distribution from a portion of the net offering proceeds. SunCoke Energy intends to use the proceeds of that distribution to repay, repurchase or redeem outstanding debt, fund expansion projects and for general corporate purposes. Additional information will be included in the registration statement. Full Article
SunCoke Energy Inc Reaffirms FY 2012 Earnings Guidance
SunCoke Energy Inc announced that it is reaffirming the fiscal 2012 guidance previously provided and expects EPS to be between $1.30 and $1.65, and adjusted EBITDA is projected to be between $250 million and $280 million. According to I/B/E/S Estimates, analysts are expecting the Company to report adjusted EBITDA of $262 million and EPS of $1.46 for fiscal 2012. Full Article
SunCoke Energy Inc Reaffirms FY 2012 Earnings Guidance
SunCoke Energy Inc announced that it is reaffirming the fiscal 2012 guidance previously provided and expects EPS to be between $1.30 and $1.65, and adjusted EBITDA is projected to be between $250 million and $280 million. According to I/B/E/S Estimates, analysts are expecting the Company to report adjusted EBITDA of $261 million and EPS of $1.48 for fiscal 2012. Full Article
Sunoco, Inc. Announces Completion Of Sale Of Remaining Shares In SunCoke Energy, Inc.
Sunoco, Inc. announced that it has completed the distribution to its shareholders of 56,660,000 shares of common stock of SunCoke Energy, Inc. owned by Sunoco. After the completion of the distribution, Sunoco no longer owns any common stock of SunCoke. The distribution by Sunoco was made in the form of a pro rata common stock dividend, of its equity interest in SunCoke to all Sunoco shareholders of record on January 5, 2012. Sunoco shareholders will receive 0.53046456 of a share of SunCoke common stock, in book-entry form, for every share of Sunoco common stock held as of the close of business on January 5, 2012. No fractional shares of SunCoke common stock were distributed. Instead, Sunoco shareholders will receive cash in lieu of any fraction of a share of SunCoke common stock that they otherwise would have received. Full Article
TEXT-S&P rates SunCoke Energy 'BB-', rates senior notes 'BB-'
Overview -- U.S.-based SunCoke Energy Inc. has announced plans to form a master limited partnership, SunCoke Energy Partners L.P., which will have an ownership interest in certain of its coke-making facilities. -- We are assigning a 'BB-' corporate credit rating to SunCoke Energy Partners L.P., the same corporate credit rating as SunCoke Energy Inc. -- We are also assigning a 'BB-' issue-level rating and '3' recovery rating to SunCoke Energy Partners L.P.'s proposed $150 millio
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