Welcome to our dedicated page for Peabody Energy Corporation news (Ticker: BTU), a resource for investors and traders seeking the latest updates and insights on Peabody Energy Corporation 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) 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.
Peabody (NYSE: BTU) will announce its quarterly results for the period ending September 30, 2020, on November 9, 2020, at 10 a.m. CST. A conference call will follow the announcement, accessible via several phone numbers for participants from different regions. Peabody is a leading coal producer, operating in over 25 countries and focusing on sustainable practices to support global energy and infrastructure needs. For more details, visit PeabodyEnergy.com.
Peabody has announced the appointment of Darren Yeates as Executive Vice President and Chief Operating Officer, effective November 1, 2020. Yeates, who has over 35 years of industry experience, will oversee all company operations, including sales, marketing, and supply chain. He has been on Peabody's board since February 2020 and will continue in this role. Yeates has held significant positions at companies like MACH Energy and Rio Tinto. Peabody is a major coal producer, supplying customers worldwide and emphasizing sustainability in its strategy.
On September 29, 2020, Peabody (NYSE: BTU) announced that the U.S. District Court supported the FTC's decision to block its joint venture with Arch Resources for the Powder River Basin and Colorado assets. CEO Glenn Kellow expressed disappointment, emphasizing the competitive landscape against natural gas and renewables. Peabody aims to remain a low-cost coal provider, ensuring reliable and affordable energy for customers. With significant operations across 25 countries, Peabody focuses on sustainability while delivering essential products for electricity and infrastructure.
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