Peabody Energy (BTU) Raises Q3 adj.-EBITDA Expectations
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Peabody Energy (NYSE: BTU) announced that the company now expects third quarter 2014 Adjusted EBITDA of $190 to $210 million, which is above the company's prior targeted range.
"Peabody is pleased that strong cost improvements and operating results are leading to increased Adjusted EBITDA expectations even in the face of market challenges," said Peabody Energy Chairman and Chief Executive Officer Gregory H. Boyce. "Our operations are performing well as we experienced higher-than-expected results from the Western United States, improved performance from Australian metallurgical coal mines and continued cost reductions across the platform."
Peabody also updated third quarter 2014 Adjusted Diluted EPS targets to $(0.69) to $(0.63), primarily reflecting the effects of non-cash tax expense following the repeal of the Minerals Resource Rent Tax in Australia.
The company expects to announce third quarter results and hold a conference call with management on Monday, Oct. 20.
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