LISLE, Ill.–(BUSINESS WIRE)–SunCoke Energy Partners, L.P. (NYSE: SXCP) today reported preliminary fourth quarter 2015 coke production of 595,000 tons, reflecting 100 percent of the production at our Haverhill, Middletown and Granite City facilities. The decrease versus the same prior year period largely reflects 2015 Granite City volumes at contract maximum levels.
Full-year 2015 estimated coke production of 2.42 million tons is down approximately 12,000 tons compared with full-year 2014, reflecting the same item discussed above.
Capacity utilization collectively was 103 percent and 105 percent for fourth quarter and full-year 2015, respectively, as compared to 108 percent and 106 percent for the same prior year periods.
|Preliminary Domestic Coke Production and Capacity Utilization|
|For quarter ended||For year ended|
|December 31,||December 31,|
|(Coke production in thousands of tons)||2015(1)||2014||2015||2014|
|Haverhill, Middletown and Granite City Coke Production (100%)||595||628||2,423||2,435|
|Production Attributable to SXCP(2)||583||443||2,260||1,513|
|Capacity Utilization (percent) (3)||103||108||105||106|
(2) Includes 98 percent of the coke production at the Haverhill, Middletown and Granite City cokemaking operations in the fourth quarter of 2015, compared to 98 percent of the coke production at Haverhill and Middletown in the same respective prior year period
(3) All periods reflect capacity utilization at Haverhill, Middletown and Granite City cokemaking facilities
See exhibit at end of release for coke production schedule for the last four quarters.
SunCoke Energy Partners, L.P. tentatively plans to issue fourth quarter 2015 earnings before market opens and host an investor conference call at 10:00 a.m. Eastern Time (9:00 a.m. Central Time) on Thursday, January 28, 2016. This conference call will be webcast live and archived for replay in the Investor Relations section of www.suncoke.com. Investors may participate on this call by dialing 1-877-201-0168 in the U.S. or 1-647-788-4901 if outside the U.S., confirmation code 22723340.
ABOUT SUNCOKE ENERGY PARTNERS, L.P.
SunCoke Energy Partners, L.P. (NYSE: SXCP) is a publicly traded master limited partnership that manufactures high-quality coke used in the blast furnace production of steel and provides export and domestic coal handling services to the coke, coal, steel and power industries. In our cokemaking business, we utilize an innovative heat-recovery technology that captures excess heat for steam or electrical power generation and have long-term, take-or-pay coke contracts that pass through commodity and certain operating costs. Our coal handling terminals have the collective capacity to blend and transload more than 45 million tons of coal each year and are strategically located to reach Gulf Coast, East Coast, Great Lakes and international ports. SXCP’s General Partner is a wholly owned subsidiary of SunCoke Energy, Inc. (NYSE: SXC), which has more than 50 years of cokemaking experience serving the integrated steel industry. To learn more about SunCoke Energy Partners, L.P., visit our website at www.suncoke.com.
Some of the statements included in this press release constitute “forward-looking statements.” Forward-looking statements include all statements that are not historical facts and may be identified by the use of such words as “believe,” “expect,” “plan,” “project,” “intend,” “anticipate,” “estimate,” “predict,” “potential,” “continue,” “may,” “will,” “should” or the negative of these terms or similar expressions. Forward-looking statements are inherently uncertain and involve significant known and unknown risks and uncertainties (many of which are beyond the control of SXCP) that could cause actual results to differ materially.
Such risks and uncertainties include, but are not limited to domestic and international economic, political, business, operational, competitive, regulatory and/or market factors affecting SXCP, as well as uncertainties related to: pending or future litigation, legislation or regulatory actions; liability for remedial actions or assessments under existing or future environmental regulations; gains and losses related to acquisition, disposition or impairment of assets; recapitalizations; access to, and costs of, capital; the effects of changes in accounting rules applicable to SXCP; and changes in tax, environmental and other laws and regulations applicable to SXCP’s businesses.
Forward-looking statements are not guarantees of future performance, but are based upon the current knowledge, beliefs and expectations of SXCP management, and upon assumptions by SXCP concerning future conditions, any or all of which ultimately may prove to be inaccurate. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. SXCP does not intend, and expressly disclaims any obligation, to update or alter its forward-looking statements (or associated cautionary language), whether as a result of new information, future events or otherwise after the date of this press release except as required by applicable law.
SXCP has included in its filings with the Securities and Exchange Commission cautionary language identifying important factors (but not necessarily all the important factors) that could cause actual results to differ materially from those expressed in any forward-looking statement made by SXCP. For information concerning these factors, see SXCP’s Securities and Exchange Commission filings such as its annual and quarterly reports and current reports on Form 8-K, copies of which are available free of charge on SXCP’s website at www.sxcpartners.com. All forward-looking statements included in this press release are expressly qualified in their entirety by such cautionary statements. Unpredictable or unknown factors not discussed in this release also could have material adverse effects on forward-looking statements.
|SunCoke Energy Partners, L.P.
Domestic Coke Production and Capacity Utilization
|For quarter ended||For quarter ended||For quarter ended||For quarter ended|
|December 31,||September 30,||June 30,||March 31,|
(Coke production in thousands of tons)
|Haverhill, Middletown and Granite City Coke Production (100%)||595||628||619||629||605||611||604||567|
|Production Attributable to SXCP(2)||583||443||588||438||555||364||533||269|
|Capacity Utilization (percent)(3)||103||108||107||109||106||107||106||100|
|(2) For periods prior to the May 9, 2014 closing on the acquisition of an additional 33 percent interest in the Haverhill and Middletown cokemaking operations, reflects 65 percent of the production at these two facilities. After May 9, 2014, reflects 98 percent of the production at these two facilities. For periods after the January 13, 2015 closing on the acquisition of 75 percent interest in Granite City cokemaking operation, includes 75 percent of production at this facility. For periods after the August 12, 2015 closing on the acquisition of an additional 23 percent interest in Granite City cokemaking operation, includes 98 percent of production at this facility|
|(3) All periods reflect capacity utilization at Haverhill, Middletown and Granite City cokemaking facilities|