Peabody Energy has modified the company’s third quarter 2014 earnings expectations, in light of good performance from its coal operations.
The company now expects Q3 adjusted EBITDA of US$ 190 million to US$ 210 million, which is above the prior targeted range.
Commenting on the adjustment, Chairman and CEO Gregory H. Boyce, said: "Peabody is pleased that strong cost improvements and operating results are leading to increased Adjusted EBITDA expectations even in the face of market challenges.
"Our operations are performing well as we experienced higher-than-expected results from the Western United States, improved performance from Australian metallurgical coal mines and continued cost reductions across the platform."
The company expects to announce Q3 results on 20 October.
Adapted from press release by Katie Woodward
Read the article online at: https://www.worldcoal.com/coal/24092014/peabody-adjusts-q3-earnings-expectations-1347/