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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 expiration of its cash purchase offer for up to $13.281 million of its 8.500% Senior Secured Notes due 2024. The offer ended on September 3, 2021, with $66,943 in aggregate accreted value tendered. Holders of the Notes will receive $738.40 in cash per $1,000 accreted value. After the purchase, $156.276 million of the 2024 Notes will remain outstanding. This repurchase aligns with Peabody's obligation under its Indenture following the second fiscal quarter.
Peabody (NYSE: BTU) has extended the expiration date of its cash offer to purchase up to $13.281 million in aggregate accreted value of its 8.500% Senior Secured Notes due 2024. The new expiration is set for 5:00 p.m. New York City time on September 3, 2021. Currently, $66,692 of the 2024 Notes have been tendered. Holders will receive $738.40 in cash per $1,000 of accreted value tendered. The offer is in accordance with the Indenture and aims to satisfy certain requirements. No recommendations are made regarding the tendering of these notes.
Peabody (NYSE: BTU) reported Q2 2021 revenues of $723.4 million, a rise from $626.7 million YoY, driven by increased volumes and higher thermal pricing. Despite this, the company recorded a net loss of $28.6 million and a diluted loss per share of $0.26. Adjusted EBITDA reached $122.1 million, up from $23.4 million a year earlier. Peabody successfully reduced SG&A expenses by 15% and continued debt reduction initiatives. Outlook for 2021 remains cautiously optimistic with anticipated stronger coal market demand.
Peabody (NYSE: BTU) will announce its financial results for the quarter ending June 30, 2021, on Thursday, July 29, 2021, at 10 a.m. CT. The announcement will be followed by a conference call with management. Participants in the U.S. and Canada can dial (888) 312-3049, while international investors can contact Peabody Investor Relations for access. The company continues to prioritize sustainability while being a leading coal producer, supplying essential products for electricity and steel production.
Peabody (NYSE: BTU) announced a cash offer to purchase up to $13.281 million in aggregate accreted value of its 8.500% Senior Secured Notes due 2024. The offer price is set at 73.840% of the accreted value per note, equating to $738.40 for every $1,000 of notes accepted. The offer expires on August 6, 2021, unless extended. This action fulfills obligations under the Indenture concerning a proportionate repurchase based on tendered amounts, aimed at managing its debt effectively.
Peabody announced the appointment of James Grech as President and CEO, effective June 1, 2021. Grech, with over 30 years in the coal and natural resources sectors, aims to enhance Peabody's strategic direction. He previously led Wolverine Fuels and held executive roles at Nexus Gas Transmission and Consol Energy. Chairman Bob Malone expressed confidence in Grech's leadership, especially during challenging times. Current CEO Glenn Kellow will transition out on the same date. Peabody continues its commitment to sustainability in coal production.
Peabody (NYSE: BTU) reported Q1 2021 revenues of $651.3 million, down from $846.2 million year-over-year, with a net loss attributable to common stockholders of $80.1 million and diluted loss per share of $0.79. Adjusted EBITDA improved to $61.1 million from $36.8 million in the prior year. Operational improvements were noted, despite challenges like lower volume and pricing. Peabody has successfully completed refinancing activities, reducing long-term debt. The company anticipates gradual improvements in seaborne coal volumes and costs throughout 2021.
Peabody (NYSE: BTU) will announce its financial results for Q1 2021 on April 29, 2021, with a management conference call scheduled for 10 a.m. CT. Investors can access the call via various phone numbers, including (888) 312-3049 for U.S. and Canada. Peabody is a prominent coal producer focused on delivering energy solutions for developed and emerging markets while emphasizing sustainability as part of its strategy. Additional information will be available on PeabodyEnergy.com.
On March 25, 2021, Peabody (NYSE: BTU) will publish the financial report of Wilpinjong Coal Pty Ltd for the year ending December 31, 2020, on its website. A management conference call is scheduled for 10 a.m. CST on the same date. Investors can access the call via phone or through Peabody's website. Peabody emphasizes its role as a leading coal producer, supporting energy and infrastructure needs globally, with a commitment to sustainability. For further inquiries, Peabody's investor relations department can be contacted directly.
Peabody (NYSE: BTU) will release Wilpinjong Coal Pty Ltd's financial report for the year ended December 31, 2020, on its website on March 25, 2021. A conference call with management is scheduled for 10 a.m. CST on the same day, where questions can be directed to the investor relations department. Peabody, a leading coal producer, focuses on sustainability while providing essential products for electricity and steel production. For more details, visit PeabodyEnergy.com.
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