Suncoke energy, inc. announces second quarter 2016 earnings date and change to definition of adjusted ebitda

Lisle, ill.--(business wire)--suncoke energy, inc. (nyse: sxc) plans to release its second quarter 2016 financial results, including quarterly coke production volumes, on thursday, july 28, 2016, before trading opens on the new york stock exchange. sxc will host its quarterly earnings call at 11:00 am et on july 28, 2016. the conference call will be webcast live and archived for replay in the investors section of www.suncoke.com. investors may participate in this call by dialing 1-866-393-4306 in the u.s. or 1-617-826-1698 if outside the u.s., confirmation code 43197747. change to definition of adjusted ebitda in response to the securities & exchange commission’s updated interpretation of the appropriate use of non-gaap financial measures (specifically regarding revenue recognition), sxc’s adjusted ebitda definition will no longer include coal logistics deferred revenue. deferred revenue represents customer payments for quarterly volume shortfalls against ratable annual contract commitments on coal logistics take-or-pay contracts, which the company historically included in adjusted ebitda when it was billed. to the extent that deferred revenue is recorded, it will no longer be reflected in adjusted ebitda until it is recognized as gaap revenue, typically at the end of the annual contract period or december 31. this change in definition aligns adjusted ebitda reporting with gaap accounting treatment and does not impact sxc’s full-year 2016 consolidated adjusted ebitda guidance nor its annual results. a recast of the results for the first quarter 2016 is shown below reflecting this change. suncoke energy, inc. three months ended march 31, 2016 about suncoke energy, inc. suncoke energy, inc. (nyse: sxc) supplies high-quality coke to the integrated steel industry under long-term, take-or-pay contracts that pass through commodity and certain operating costs to customers. we utilize an innovative heat-recovery cokemaking technology that captures excess heat for steam or electrical power generation. we are the sponsor of suncoke energy partners, l.p. (nyse: sxcp), a publicly traded master limited partnership, holding a 2 percent general partner interest, 55 percent limited partnership interest and all of the incentive distribution rights. our cokemaking facilities are located in illinois, indiana, ohio, virginia, brazil and india. to learn more about suncoke energy, inc., visit our website at www.suncoke.com.
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