Search Copying and distributing are prohibited without permission of the publisher
Email a friend
  • To include more than one recipient, please separate each email address with a semi-colon ';', to a maximum of 5

  • By submitting this article to a friend we reserve the right to contact them regarding AMM subscriptions. Please ensure you have their consent before giving us their details.

SunCoke Energy Partners’ income doubles in 4th qtr.

Keywords: Tags  SunCoke Energy Partners, coke, Fritz Henderson, earnings report, Stacy Irish

NEW YORK — SunCoke Energy Partners LP’s fourth-quarter net income more than doubled to $15.3 million from $7.3 million a year earlier thanks to contributions from its Middletown, Ohio, coke facility.

The newly formed master limited partnership—a subsidiary of Lisle, Ill.-based SunCoke Energy Inc.—posted full-year net income of $56.8 million, up from $30.8 million in 2011. SunCoke Energy Partners owns a 65-percent interest in each of SunCoke Energy’s Haverhill and Middletown cokemaking facilities in Ohio.

The financial results are for periods prior to SunCoke Energy Partners’ Jan. 24 initial public offering of 13.5 million common units, representing a 42.1-percent partner interest. The results were presented on a combined basis, including the 35-percent interest in the Haverhill and Middletown facilities owned by SunCoke.

"Our strong fourth-quarter and full-year performance was driven by our new Middletown facility, which began operations in October 2011," said Fritz Henderson, chairman and chief executive officer of SunCoke Energy Partners. "The success of the Middletown startup and the sustained solid results at Haverhill reflect our continued focus on the disciplined and reliable operation of cokemaking facilities."

Fourth-quarter revenue increased 32.9 percent to $186.2 million from $140.1 million in the same period a year earlier, while full-year revenue jumped 64.6 percent to $740.2 million from $449.8 million in 2011.

SunCoke, through its subsidiaries, owns a 55.9-percent partner interest in SunCoke Energy Partners.

A version of this article was first published by AMM sister publication Steel First.

Have your say
  • All comments are subject to editorial review.
    All fields are compulsory.

Latest Pricing Trends