Welcome to our dedicated page for Peabody Energy news (Ticker: BTU), a resource for investors and traders seeking the latest updates and insights on Peabody Energy stock.
Peabody Energy Corporation (NYSE: BTU) is recognized as the leading global pure-play coal company, providing essential products for the generation of affordable, reliable energy and the production of steel. Serving customers in more than 25 countries across six continents, Peabody holds a significant position in the coal industry with a diverse portfolio of assets and geographical presence.
Peabody’s operations are divided into several segments: Seaborne Thermal, Seaborne Metallurgical, Powder River Basin, Other U.S. Thermal, and Corporate and Other. Among these, the Powder River Basin segment generates the majority of the company's revenue. The company's core business involves the production of both metallurgical and thermal coal, as well as marketing and brokering coal and trading coal and freight-related contracts.
In recent achievements, Peabody reported a net income attributable to common stockholders of $119.9 million for the third quarter of 2023, with an Adjusted EBITDA of $270.0 million. The diversity of their portfolio has allowed the company to maintain consistent and predictable results. Significant progress has been made in strengthening their metallurgical platform, including redevelopment at North Goonyella and the acquisition of an adjacent coal deposit to enhance the mine life of this premier, tier-one premium hard coking coal mine.
Peabody is committed to sustainability, safety, and operational excellence, guided by its core values of safety, customer focus, leadership, people, excellence, integrity, and sustainability. The company has also shown a strong commitment to shareholder returns, having repurchased a significant portion of shares and paid dividends.
Key ongoing projects include the development of the North Goonyella project, expected to commence longwall production in 2026, and the acquisition of the Wards Well coal deposit, aiming to extend the mine life of their Centurion Mine. Additionally, the company is investing in new longwall equipment for their Shoal Creek and Metropolitan mines, with expected operational improvements in the upcoming years.
Recently, Peabody announced a new $320 million senior secured revolving credit facility intended to further enhance their financial resiliency. This comes as part of their strategy to reweight long-term production and revenue towards premium Australian metallurgical coal.
For further information, visit www.peabodyenergy.com.
Latest News: Peabody has recently reported their preliminary unaudited financial results for the first quarter of 2024, projecting revenue of $980 million and an Adjusted EBITDA of $160 million. Additionally, they completed the acquisition of the Wards Well coal deposit, significantly extending the mine life of their Centurion Mine Complex.
Peabody (NYSE: BTU) announced the completion of a significant debt exchange transaction on Jan. 29, 2021, tendering 86.86% of its senior secured notes due 2022. This action extends debt maturities to December 2024 and eliminates the net leverage ratio covenant. Key components include exchanging $398.7 million of notes and a new revolving credit facility. The agreement also reduces collateral risks significantly and includes a standstill agreement with surety providers, enhancing Peabody's financial flexibility.
Peabody (NYSE: BTU) announced the expiration of its Exchange Offer for 6.000% Senior Secured Notes due 2022, with approximately $398.69 million (86.86%) of the notes validly tendered. The offer included new 10.000% and 8.500% notes, with expected settlement on January 29, 2021. Each $1,000 of existing notes will convert into $1,010 in new notes and cash, including an early tender premium of $10.00. Peabody successfully obtained consents for amendments to the indenture, eliminating certain restrictive covenants and releasing collateral.
On February 4, 2021, Peabody (NYSE: BTU) is set to release its financial results for the quarter and year ending December 31, 2020. A management conference call will take place at 10 a.m. CST on the same day, accessible via multiple international phone lines. Peabody, a major coal producer operating in over 25 countries, emphasizes its role in providing essential energy products while maintaining a commitment to sustainability. Further details can be found on PeabodyEnergy.com.
Peabody (NYSE: BTU) reported that as of January 15, 2021, $397.5 million, or 86.6%, of its 6.000% Senior Secured Notes due 2022 had been tendered in its Exchange Offer. The Extended Early Tender Date has been moved to January 25, 2021. Each $1,000 of Existing Notes exchanged will yield $488.06 in New Co-Issuer Notes, $488.24 in New Peabody Notes, and a Pro Rata Payment of $23.70. Peabody waived the Minimum Tender Condition from 95% to 85%, enabling the Exchange Offer's continuation. Consent Solicitation for amendments to the Existing Indenture has been approved.
Peabody (NYSE: BTU) announced that as of January 8, 2021, approximately $391.2 million (85%) of its outstanding 6.000% Senior Secured Notes due 2022 were tendered for exchange in its offer. The Exchange Offer deadline has been extended to January 15, 2021. Eligible holders can receive new 10.000% and 8.500% Senior Secured Notes due December 31, 2024, as well as cash payments. The company has also received sufficient consents for amendments concerning the Existing Indenture, which will release its collateral and remove covenants, becoming effective post-Exchange Offer completion.
Peabody (NYSE: BTU) has amended its Transaction Support Agreement with creditors, affecting approximately 65% of its outstanding senior secured notes due in 2022. The updated agreement clarifies provisions without changing the terms of the existing exchange offer. Additionally, a Supplement No. 1 has been issued to amend the Offering Memorandum related to the exchange offer. Eligible holders can access the necessary documentation via the provided website or contact Global Bondholder Services. Peabody will file a Form 8-K with the SEC regarding these agreements.
Peabody (NYSE: BTU) announced a transaction support agreement with all revolving lenders and approximately 65% of its 6.000% senior secured notes due 2022. This agreement aims to extend debt maturities and provide financial covenant relief, enhancing operational liquidity. Key aspects include the exchange of existing notes for new 2024 notes, moving the nearest debt maturity to December 2024, and eliminating restrictive covenants. Following successful completion, the company's capital structure would feature $1.52 billion in funded debt and a $324 million letter of credit facility.
Peabody (NYSE: BTU) announced an Exchange Offer for its outstanding 6.000% Senior Secured Notes due 2022, exchanging them for two series of new notes: 10.000% Senior Secured Notes and 8.500% Senior Secured Notes, both due December 31, 2024. The company also seeks consents to amend restrictive covenants in the existing notes' indenture. Eligible holders will receive varied consideration based on the timing of their tender. Peabody expects up to $22.5 million in aggregate accreted value to be offered for new notes after the settlement date, which is anticipated post-offer completion.
Peabody (NYSE: BTU) reported third-quarter 2020 revenues of $671.0 million, reflecting a 39% decline year-over-year. The company faced a net loss of $67.2 million and diluted loss per share of $0.66. Despite achieving record-low Powder River Basin costs per ton of $7.93, U.S. thermal revenues fell by $215.4 million. Peabody's cash reserves stood at $814.6 million. The company reached a standstill agreement with surety bond providers to address $800 million in collateral requests while exploring further financing alternatives.
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