Peabody reports Q3 EPS (58c) vs. 74c last year

Reports Q3 revenue $1.01B, consensus $992.53M. “Peabody’s (BTU) operations turned in another solid performance, highlighted by rising Powder River Basin shipments, better-than-anticipated seaborne thermal coal volumes and the lowest metallurgical coal costs in multiple years,” said CEO Jim Grech. “Peabody’s positive results occur against a backdrop of outstanding U.S. thermal coal fundamentals and seaborne markets that have stabilized along the lower end of the pricing cycle.” “Peabody has maintained its balance sheet resilience and shareholder return program while completing over $680 million of investments to develop and expand Centurion, which will dramatically increase our operating leverage to the premium hard coking coal segment of the metallurgical market,” said CFO Mark Spurbeck. “Peabody’s substantial liquidity and cash-positive net-debt position ensures protection against short-term market volatility while allowing the full benefit of substantial free cash flow in better pricing environments to fully accrue to our shareholders.”