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Tuesday, October 29, 2019

-=Peabody Energy (BTU) reported earnings on Tue 29 Oct 19 (b/o)



Peabody Energy misses by $0.39, beats on revs
  • Reports Q3 (Sep) loss of $0.77 per share, excluding non-recurring items, $0.39 worse than the S&P Capital IQ Consensus of ($0.38); revenues fell 21.7% year/year to $1.11 bln vs the $1.09 bln S&P Capital IQ Consensus.
  • Guidance: Peabody expects fourth quarter Adjusted EBITDA to be lower than the third quarter, excluding restructuring charges and other non-recurring items, primarily as a result of the closure of the Kayenta Mine, which contributed approximately $30 million to third quarter Adjusted EBITDA. Other factors impacting performance relative to the third quarter include higher volumes across multiple segments, lower pricing and an increase in required Australian domestic thermal coal shipments. The company also intends to take an impairment charge of approximately $60 million primarily related to the prior North Goonyella Mine panel development now not expected to be accessed. Peabody is assuming fourth quarter seaborne prompt pricing of $158 per tonne for benchmark hard coking coal and $69 per tonne for the Newcastle-spec product.

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