Peabody Energy Corp. (BTU) Post Q3 Profit Vs. Expected Loss
Peabody Energy Corp. (NYSE: BTU) reported Q3 EPS of $0.33, $0.38 better than the analyst estimate of ($0.05). Revenue for the quarter came in at $1.76 billion versus the consensus estimate of $1.83 billion.
"The strength of Peabody's global platform and the significant progress of our cost containment actions helped us overcome a number of challenges during the quarter," said Peabody Energy Chairman and Chief Executive Officer Gregory H. Boyce. "Our progress in reducing capital and moving our operations down the cost curve highlights the actions we are taking to succeed in all market conditions. Peabody continues to drive improvements across our platform, which remains very well positioned with competitive assets in the growth regions of the United States and Australia."
OUTLOOK
Peabody is targeting third quarter 2013 Adjusted EBITDA of $210 million to $270 million and Adjusted Diluted Earnings Per Share of ($0.16) to $0.09. Adjusted EBITDA targets reflect expected seasonal increases in U.S. volumes, carryover geologic issues in Australia and lower coal pricing.
Additional full-year 2013 targets include:
Total sales of 230 to 250 million tons, including U.S. sales of 180 to 190 million tons, Australian sales of 33 to 36 million tons, and the remainder from Trading and Brokerage activities;
Expected U.S. revenues per ton 5 percent to 10 percent below 2012 levels; and
Full-year depreciation, depletion and amortization levels approximately 10 percent higher than 2012 levels.
For earnings history and earnings-related data on Peabody Energy Corp. (BTU) click here.
"The strength of Peabody's global platform and the significant progress of our cost containment actions helped us overcome a number of challenges during the quarter," said Peabody Energy Chairman and Chief Executive Officer Gregory H. Boyce. "Our progress in reducing capital and moving our operations down the cost curve highlights the actions we are taking to succeed in all market conditions. Peabody continues to drive improvements across our platform, which remains very well positioned with competitive assets in the growth regions of the United States and Australia."
OUTLOOK
Peabody is targeting third quarter 2013 Adjusted EBITDA of $210 million to $270 million and Adjusted Diluted Earnings Per Share of ($0.16) to $0.09. Adjusted EBITDA targets reflect expected seasonal increases in U.S. volumes, carryover geologic issues in Australia and lower coal pricing.
Additional full-year 2013 targets include:
For earnings history and earnings-related data on Peabody Energy Corp. (BTU) click here.