Coal miner Peabody Energy Corp. (BTU) posted loss from continuing operations of $10.3 million, or $0.05 per share for the first quarter, compared with an income of $183.0 million, or $0.65 per share in the prior-year quarter. The company said the results were affected by lower pre-tax earnings as well as higher depreciation, depletion and amortization expenses.
Net loss attributable to common stockholders was $23.4 million, or $0.09 per share, versus a profit of $172.7 million, or $0.63 per share, a year back.
First-quarter revenues declined 14 percent year-on-year to $1.75 billion, from $2.02 billion, on reduced U.S. shipments and lower Australian prices.
Peabody is targeting second-quarter 2013 adjusted results in the range of loss $0.25 - $0.01 profit per share, reflecting expectations of higher Australian volumes and continued cost containment activities, partly offset by two longwall moves.
In addititon, the company is maintaining its targets of total sales of 230 to 250 million tons, including U.S. sales of 180 to 190 million tons, Australian sales of 33 to 36 million tons, and the remainder from Trading and Brokerage activities.
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