UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): October 6, 2016
SUNCOKE ENERGY, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 001-35423 | 90-0640593 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) | ||
| 1011 Warrenville Road, Suite 600 Lisle, Illinois |
60532 | |||
| (Address of principal executive offices) | (Zip Code) | |||
Registrant’s telephone number, including area code: (630) 824-1000
N/A
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 7.01 | Regulation FD Disclosure. |
Convent Marine Terminal Estimated Third Quarter 2016 Deferred Revenue
SunCoke Energy, Inc. (NYSE: SXC) (the “Company”) estimates preliminary third quarter 2016 take-or-pay deferred revenue at its Convent Marine Terminal (“CMT”) to be $8.8 million based on actual third quarter shipments. The cumulative year-to-date take-or-pay billings through September 30, 2016, which are included in deferred revenue, are estimated to be $27.1 million based on actual volumes at CMT through the first nine months of the year. This deferred revenue will be reflected in Adjusted EBITDA when recognized as GAAP revenue, typically at the end of the annual contract period, or in the fourth quarter ending December 31 of each year.
On July 5, 2016, in response to the Securities & Exchange Commission’s updated interpretation of the appropriate use of non-GAAP financial measures (specifically regarding revenue recognition), the Company announced that its definition of Adjusted EBITDA has been revised to exclude deferred revenue until it is recognized as GAAP revenue. All prior periods have been restated to include this revision.
Upcoming Third Quarter 2016 Earnings Date
As previously announced, the Company plans to release its third quarter 2016 financial results on Thursday, October 20, 2016, before trading opens on the New York Stock Exchange.
SXC will host its quarterly earnings call at 11:00 am ET on October 20, 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 1-877-201-0168 in the U.S. or 1-647-788-4901 if outside the U.S., confirmation code 89766307.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| SUNCOKE ENERGY, INC. | ||||||||
| By: | /s/ Fay West | |||||||
| Fay West | ||||||||
| Senior Vice President and | ||||||||
| Chief Financial Officer | ||||||||
Date: October 6, 2016