Peabody Projects Increase In Q3 Adj. EBITDA - Quick Facts

Peabody (BTU) reported an increase in preliminary third quarter adjusted EBITDA compared to prior year due to higher realized prices from robust seaborne coal demand and a non-cash gain on the sale of Millennium. In the third quarter, revenues and net loss attributable to stockholders was negatively impacted by approximately $238 million of unrealized mark-to-market losses primarily related to coal hedges contracted in the first half of 2021, the company noted.

The company expects third quarter revenue of $670 million to $690 million; net loss to stockholders of $40 million to $60 million; and adjusted EBITDA of $280 million to $290 million. Adjusted EBITDA for the prior year period was $95.4 million.

"Coal sales to customers were in excess of $900 million, the highest level in seven quarters. We remain optimistic about the future given strong coal pricing and global demand fundamentals," said Peabody CEO Jim Grech.

Shares of Peabody were up 1.7% in pre-market trade on Monday.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Meta Platforms Inc., the parent of Facebook, Instagram, and WhatsApp, said it is launching more options on WhatsApp to control their messages and how long they stick around, with default disappearing messages and multiple durations. The latest features are expected to bring more control and privacy on the popular messaging app. Delivery services company DoorDash has introduced ultra-fast grocery deliveries with DashMart in Chelsea, New York City. The company said it aims to deliver in 10-15 minutes and plans to expand its new service in select DoorDash grocery and convenience partners over the next year. With over 2,000 items, DashMart offers a wide assortment of fresh and frozen grocery staples, snacks, household goods, and local products. Ontario, Canada-based Erie Meat Products Ltd. is recalling approximately 1,224 pounds of fully cooked chicken bologna products, according to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS. The chicken bologna products were imported and distributed into the United States without the benefit of FSIS import reinspection.
Follow RTT