Peabody reported third quarter revenue of $1.10 billion, surpassing analyst expectations, but recorded a net loss of $(0.27) per share due to operational headwinds. Performance was characterized by strong seaborne thermal margins and metallurgical coal volume growth, which were partially offset by ongoing geological difficulties at the flagship Centurion mine and weak domestic U.S. thermal demand.
Key Highlights
- Centurion mine met shipping targets with 0.58 million tons sold, although complex geological faulting slowed production and forced a reduction in fourth quarter sales guidance to 0.3–0.5 million tons.
- Seaborne Thermal Adjusted EBITDA increased 26% sequentially to $65.5 million as realized export pricing exceeded $100 per ton.
- Powder River Basin (PRB) volumes missed targets due to lower coal burn, leading management to reduce full-year PRB sales guidance by approximately 7.5 million tons.
- The company effectively repurchased 0.7 million shares through convertible note redemptions and declared a quarterly dividend of $0.075 per share.