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

Lisle, ill.--(business wire)--suncoke energy partners, l.p. (nyse: sxcp) 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. sxcp will host its quarterly earnings call at 10:00 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 43172089. 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), sxcp’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 sxcp’s full-year 2016 consolidated adjusted ebitda guidance nor its annual results. sxcp will continue to include deferred revenue in its quarterly calculations of distributable cash flow, as the company has the contractual right to receive cash payments each quarter for ratable volume shortfalls. a recast of the results for the first quarter 2016 is shown below reflecting this change. suncoke energy partners, l.p. reconciliations of non-gaap information 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.
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