Peabody publishes its latest quarterly results

The company has reported net income attributable to common stockholders of US$39.6 million, or US$0.29 per diluted share, for 1Q24, compared to US$268.5 million, or US$1.68 per diluted share in 1Q23. It has also reported Adjusted EBITDA of US$160.5 million in 1Q24, compared to US$390.6 million in 1Q23.

Highlights:

• Reported first quarter Adjusted EBITDA of US$160.5 million and generated operating cash flow from continuing operations of US$120.3 million.
• Repurchased 3.2 million shares, or 3% of shares outstanding, for US$80.4 million.
• Acquired a large portion of the Wards Well coal deposit immediately adjacent to the company’s Centurion Mine complex.
• Centurion remains on track for development coal in the second quarter of 2024 and longwall production in the first quarter of 2026 with capital expenditures in line with previous guidance.
• Shoal Creek continued to exceed production expectations.
• Achieved a US$105 million release of US reclamation bonds.
• Closed on a new US$320 million revolving credit facility.
• Declared a dividend on common stock of US$0.075 per share on 2 May 2024.

“We are reaffirming our full year guidance as the previously announced production challenges in the first quarter are behind us,” said Peabody President and Chief Executive Officer Jim Grech. “We continue to take steps to further weight our long-term cash flows to metallurgical coal, and the Wards Well acquisition extends the mine life of Centurion to 25+ years and substantially increases the expected long-term value from our premier hard coking coal growth project.”

Read the article online at: https://www.worldcoal.com/coal/09052024/peabody-publishes-its-latest-quarterly-results/