Actionable news
0
All posts from Actionable news
Actionable news in CNX: CONSOL ENERGY Inc,

What Peabody, CONSOL Earnings Say About the Coal Market

Peabody Energy Corp. (NYSE: BTU) reported third-quarter results before markets opened Tuesday. The coal miner’s adjusted diluted net loss came to $8.13 per share on revenues of $1.42 billion. In the same period a year ago, Peabody reported a net loss of $8.78 per share on revenues of $1.72 billion. The consensus estimates called for an EPS loss of $8.38 on revenues of $1.4 billion. The net loss per share amounts take into account the one-for-15 reverse split that took effect October 1.

The company lowered its full-year production guidance from a prior range of 225 million to 245 million tons to a new range of 222 million to 237 million tons. Guidance for U.S. revenue per ton was also revised down from a range of $19.95 to $20.40 to a new range of $19.80 to $20.25. U.S. cost guidance fell as well, from a prior range of $14.65 to $15.00 to a new range of $14.50 to $14.85. Peabody also lowered its full-year capex guidance from a range of $160 million to $170 million to a new range of $140 million to $150 million.

President and CEO Glenn Kellow said:

Peabody’s third quarter results reflect a solid operational performance across the portfolio that continues to limit the pricing impacts from unprecedented market conditions. Our...


More