Peabody Energy misses by $0.30, misses on revs
Reports Q1 (Mar) loss of $0.62 per share, excluding non-recurring items, $0.30 worse than the Capital IQ Consensus Estimate of ($0.32); revenues fell 5.5% year/year to $1.54 bln vs the $1.61 bln consensus. Q1 revenue fell YoY due to lower realized pricing and a shift in U.S. production mix toward the Southern Powder River Basin.
- Q1 adjusted EBITDA of $165.6 million declined 6% YoY, and includes the impact of $100 million in lower pricing and the timing of Resource Management transactions.
- "In the face of market headwinds, Peabody's first quarter performance demonstrates the underlying strength of our business as ongoing cost improvements largely overcame lower coal prices and the impact of hedging."