Skip to main content

Peabody Energy announces quarterly results

World Coal,


Peabody Energy has reported financial results for Q3 2014. These include revenues of US$ 1.72 billion and Adjusted EBITDA of US$ 216.3 million.  Loss from Continuing Operations totalled US$ 154.0 million, reflecting the effect of a non-cash tax expense related to the repeal of the Minerals Resource Rent Tax in Australia.

CEO of Peabody, Gregory H Boyce, said the company demonstrated “strong operating performance” despite “challenging times for the coal industry.”

Boyce added that the company was hoping to see growth in Indian coal imports, as well as improved rail performance in the southern Powder River Basin. He also said that the company looked forward to “greater realisation of announced metallurgical coal supply cutbacks.”

Peabody suffered the effect of US mining revenues declining to US$ 1.02 billion, due to lower volumes and reduced Midwestern revenues per tonne.  Australian revenues decreased 4%, as higher volumes partly offset a 13% reduction in revenues per tonne.  Australian sales totalled 10.0 million t, including 4.6 million t of metallurgical coal and 3.4 million t of seaborne thermal coal. 

According to Peabody, adjusted EBITDA of US$ 216.3 million reflects ongoing cost and productivity improvements that mitigated the impact of approximately US$ 135 million from lower pricing.  US mining adjusted EBITDA declined 8% over the previous year to US$ 281.6 million, primarily due to rail performance issues in the quarter. Australian mining adjusted EBITDA declined to US$ 16.9 million, as a result of lower seaborne coal prices. Australian costs per ton decreased 6% thanks to improved longwall performance, as well as cost and productivity programmes.

Trading and Brokerage Adjusted EBITDA totalled US$ 3.3 million and Resource Management Adjusted EBITDA totalled US$ 3.5 million. 

Adapted from press release by Sam Dodson

Read the article online at: https://www.worldcoal.com/coal/20102014/peabody-announces-quarterly-results-1427/

You might also like

EMI

Electrification in Mining virtual conference

Join us on 16 April 2024 for Global Mining Review's first Electrification in Mining event is an interactive virtual conference, focusing on electrification as the future of sustainable mining and exploring the innovative approaches and technologies being developed to facilitate its implementation.

Register for FREE »

 
 
 

Embed article link: (copy the HTML code below):