Peabody Energy (BTU) Reports Q4 adj.-Loss of $1.21/Share, Offers FY15 Guidance

(Updated - January 27, 2015 8:08 AM EST)

Peabody Energy (NYSE: BTU) reported Q4 adjusted loss of $1.21 per share, versus the analyst loss estimate of $0.35 per share. Revenue for the quarter came in at $1.68 billion, versus the consensus estimate of $1.65 billion. Adjusted EBITDA was $207.7 million vs $200 million last year.

"Peabody continues to drive improvements in safety, costs and productivity as we respond to challenging market conditions with additional cost reduction programs, capital efficiency initiatives and non-core asset sales," said Peabody Energy Chairman and Chief Executive Officer Gregory H. Boyce. "While we expect coal fundamentals to improve over time, we are implementing further steps in our comprehensive plan to improve competitiveness and maintain adequate liquidity."

2014 was a turbulent year for the coal markets as slowing near-term demand growth and strong seaborne supplies resulted in continued coal price declines," said Peabody Energy President and CEO-Elect Glenn Kellow. "We would anticipate seeing catalysts for market improvement including stable seaborne metallurgical supply, the addition of new global coal-fueled generation and coal import growth in India and Southeast Asia. In the U.S., we expect Southern Powder River Basin consumption to rise in 2015 despite lower expected natural gas prices, as rail performance improves and utility coal conservation measures are eliminated."

Peabody is targeting first quarter 2015 Adjusted EBITDA of $160 million to $200 million and Adjusted Diluted EPS of $(0.39) to $(0.32). (Consensus calls for a Q1 loss of $0.24)

OUTLOOK

Approximately 5 percent of Peabody's projected 2015 U.S. production is unpriced, with 2016 production approximately 45 to 55 percent unpriced based on expected 2015 production levels.

For earnings history and earnings-related data on Peabody Energy (BTU) click here.

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