Suncoke Energy, Inc. · NYSE:SXC
Suncoke Energy — Q1 2020 Earnings Presentation
15 slides from Suncoke Energy's earnings presentation, May 8, 2020
Slide 1: Q1 2020 Earnings Conference Call
SunCoke Energy, Inc. Q1 2020 Earnings Conference Call
Slide 2: Forward-Looking Statements
Forward‐Looking Statements 2 This slide presentation should be reviewed in conjunction with the First Quarter 2020 earnings release of SunCoke Energy, Inc. (SunCoke) and conference call held on May 8, 2020. This conference call contains “forward‐looking statements” (as defined in Section 27A of the
Slide 3: COVID-19 Response and Q1 2020 Highlights
COVID‐19 Response and Q1 2020 Highlights 3 SunCoke deemed essential business in every state where it operates and all facilities remain open Took proactive and enhanced measures to protect the health and safety of our employees and contractors: Screening process while entering at each site R
Slide 4: Q1 2020 Financial Performance
Q1 2020 Financial Performance 4 Q1 2020 Earnings Review Q1 ‘20 EPS of $0.06 per share, down $0.09 ($/share) ($ in millions) (1) per share from the prior year quarter Diluted EPS Adj. EBITDA • Mainly driven by Logistics segment performance (1) Adjusted EBITDA of $62.1M, down $0.15 $62.1 $67.3 $5.2M f
Slide 5: Adjusted EBITDA – Q1 '19 to Q1 '20
Adjusted EBITDA(1) – Q1 ‘19 to Q1 ‘20 5 Q1 ‘20 performance driven by lower contribution from CMT partially offset by strong performance in Domestic Coke segment ($ in millions) $4.5 ($9.4) $67.3 ($0.3) $62.1 • Lower volumes and price at CMT • Higher coke volumes Q1 2019 Domestic & Brazil Coke Logist
Slide 6: Domestic Coke Business Summary
Domestic Coke Business Summary 6 Strong Q1 ’20 cokemaking performance driven by higher production at IHO Domestic Coke Performance Delivered Adj. EBITDA/ton(1) of ~$60 (Coke Production, Kt) vs. ~$58 in Q1 ‘19 $58/ton $60/ton $57/ton $55/ton • Increased production across the fleet $48/ton • Lower coa
Slide 7: Logistics Business Summary
Logistics Business Summary 7 Lower throughput volumes and price at CMT driving Logistics results Logistics Performance • Logistics segment contributed (Tons Handled, Kt) $12.7M $11.8M $3.3M to Q1 ‘20 Adj. EBITDA $9.6M $8.5M • CMT contributed $1.3M to Q1 ‘20 $3.3M Adj. EBITDA driven by lower 5,784 5,
Slide 8: Q1 2020 Liquidity
Q1 2020 Liquidity 8 Maintain strong liquidity position of ~$324M; Revolver drawdown to increase cash position and preserve financial flexibility (Consolidated) Q1 ’20 Revolver Total Debt $944.5M Availability: Gross Leverage (1) 3.89x $88.2M (1) Net Leverage 2.92x ($ in millions) ($8.9) ($7.0) ($5.0)
Slide 9: 2020 Revised Key Initiatives
2020 Revised Key Initiatives 9 Successfully Navigate through the Pandemic Crisis • Protect the safety and well‐being of employees and contractors during this health crisis Deliver Operational Excellence and Optimize Asset Base • Continue to deliver strong operational performance and asset optimizati
Slide 10: Appendix
APPENDIX
Slide 11: Definitions
Definitions 11 Adjusted EBITDA represents earnings before interest, loss (gain) on extinguishment of debt, taxes, depreciation and amortization (“EBITDA”), adjusted for impairments, loss on extinguishment of debt, changes to our contingent consideration liability related to our acquisition of CMT, a
Slide 12: Reconciliation to Adjusted EBITDA and Adjusted EBITDA attributable to SXC
Reconciliation to Adjusted EBITDA and Adjusted EBITDA 12 attributable to SXC ($ in millions) Q1 '19 Q2 '19 Q3 '19 Q4 '19 FY '19 Q1 '20 Net income (loss) attributable to SunCoke Energy, Inc. $ 9.8 $ 2.3 $(163.0) $ (1.4) $(152.3) $ 4.9 Net income (loss) attributable to noncontrolling interests 2.4 1.0
Slide 13: Adjusted EBITDA and Adjusted EBITDA per ton
Adjusted EBITDA and Adjusted EBITDA per ton 13 Reconciliation of Segment Adjusted EBITDA and Adjusted EBITDA per Ton Domestic Corporate and ($ in millions, except per ton data) Coke Brazil Coke Logistics Other(1) Consolidated Q1 2020 Adjusted EBITDA $63.4 $4.1 $3.3 ($8.7) $62.1 Sales Volume (thousan
Slide 14: Balance Sheet & Debt Metrics
Balance Sheet & Debt Metrics 14 As of 3/31/2020 As of 12/31/2019 Cash $ 236 $ 97 Available Revolver Capacity 88 245 Total Liquidity $ 324 $ 342 Gross Debt (Long and Short‐term) $ 945 $ 801 Net Debt (Total Debt less Cash) $ 709 $ 704 LTM Adj. EBITDA $ 243 $ 248 Gross Debt / LTM Adj. EBITDA 3.89x 3.23
Slide 15: SunCoke Energy
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