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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 offer to purchase up to $15.842 million in aggregate accreted value of its 8.500% Senior Secured Notes due 2024. The offer expired on November 22, 2021, with $97.00 of notes validly tendered. Holders will receive $735.90 in cash for each $1,000 of notes accepted. Following the repurchase, approximately $102.926 million of the 2024 Notes will remain outstanding. This repurchase fulfills Peabody's requirement to offer to purchase notes within 30 days of its fiscal quarter end.
Peabody (NYSE: BTU) reported third-quarter 2021 revenues of $679 million, reflecting strong coal market dynamics despite a net loss of $44.2 million attributed to unrealized losses from hedges. The company successfully reduced $250 million of debt this year, over 16% of its outstanding balance. Adjusted EBITDA surged to $289.1 million, driven by improved seaborne pricing and margins. The seaborne thermal segment increased shipments, while labor agreements are expected to boost production in the upcoming year. Peabody maintains a focus on cost control and sustainability as it navigates market conditions.
Peabody (NYSE: BTU) has announced an offer to purchase up to $15.842 million of its 8.500% Senior Secured Notes due 2024 at a price of 73.590% of their accreted value. The offer is set to expire on November 22, 2021. Holders of the 2024 Notes can receive $735.90 in cash per $1,000 of accreted value of Notes tendered. This purchase aligns with the company’s commitment to meet the terms of its Indenture and support its financial strategy.
Peabody (NYSE: BTU) will release its financial results for the quarter ending September 30, 2021, on Thursday, October 28, 2021. A conference call with management is scheduled for 10 a.m. CT on the same day. Interested parties can access the call via phone or through PeabodyEnergy.com, where additional investor information will also be available. As a leading coal producer, Peabody focuses on providing essential energy products for global electricity and steel production, while emphasizing sustainability in its operations.
Peabody (NYSE: BTU) has reported preliminary financial results for Q3 2021, estimating revenue between $670 million and $690 million, while anticipating a net loss from continuing operations of $55 million to $75 million. The company experienced $238 million in unrealized mark-to-market losses from hedging contracts, impacting overall performance. Adjusted EBITDA is projected to be $280 million to $290 million, benefiting from strong coal pricing and demand. Peabody reduced senior secured debt by $250 million year-to-date.
On September 27, 2021, Peabody (NYSE: BTU) announced the ratification of a new collective bargaining agreement by the union representing its hourly workers at the Shoal Creek mine. This agreement is viewed as beneficial for all stakeholders, promoting safe and efficient operations.
President Marc Hathhorn expressed gratitude towards the UMWA leadership and employees for their cooperation. Peabody is a leading coal producer, contributing to energy and infrastructure needs globally, with a commitment to sustainability.
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.
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