Peabody (BTU) Pushes Coal Segment Higher on Q3 Results, Stronger Outlook (ANR) (ACI)
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Price: $27.61 +2.79%
Financial Fact:
Less: Net income attributable to noncontrolling interests: 1.8M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Less: Net income attributable to noncontrolling interests: 1.8M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Peabody Energy (NYSE: BTU) is pushing peers higher following solid quarterly numbers and outlook issued earlier.
Sales were $2.06 billion leading to EPS of 51 cents; the Street consensus was at revs of $1.97 billion and earnings of 34 cents per share.
More than the results, Peabody noted that sales volumes were up 6 percent. The company attributed the jump to "increases in the Australia and Trading and Brokerage segments"
The outlook was also positive. Peabody sees fiscal 2012 thermal coal demand up 100 million tons to 900 million tons. Anticipated global economic growth and China's infrastructure spending should lead to global seaborne metallurgical coal demand growth of 10 to 15 percent in 2013, and Wood Mackenzie projects coal to overtake oil as the world's largest energy source in 2013 as global coal demand further increases next year.
Clean FY12 EPS guidace is now at $1.88 to $2.08, with analysts currently at $1.79.
Moving today are Alpha Natural (NYSE: ANR), Arch Coal (NYSE: ACI), Walter Energy (NYSE: WLT), and CONSOL Energy (NYSE: CNX), among other coal mining peers.
Sales were $2.06 billion leading to EPS of 51 cents; the Street consensus was at revs of $1.97 billion and earnings of 34 cents per share.
More than the results, Peabody noted that sales volumes were up 6 percent. The company attributed the jump to "increases in the Australia and Trading and Brokerage segments"
The outlook was also positive. Peabody sees fiscal 2012 thermal coal demand up 100 million tons to 900 million tons. Anticipated global economic growth and China's infrastructure spending should lead to global seaborne metallurgical coal demand growth of 10 to 15 percent in 2013, and Wood Mackenzie projects coal to overtake oil as the world's largest energy source in 2013 as global coal demand further increases next year.
Clean FY12 EPS guidace is now at $1.88 to $2.08, with analysts currently at $1.79.
Moving today are Alpha Natural (NYSE: ANR), Arch Coal (NYSE: ACI), Walter Energy (NYSE: WLT), and CONSOL Energy (NYSE: CNX), among other coal mining peers.
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