Peabody tops estimates, guides higher, shares +4.8% premarket

|About: Peabody Energy Corp. (BTUUQ)|By:, SA News Editor

Peabody Energy (BTU) +4.8% premarket after beating Q3 earnings expectations and guiding FY 2013 above consensus.

However, BTU posted an unadjusted loss of $0.10/share vs. a year-ago gain of $0.16, and income from continuing operations fell to $0.06/share from last year's $0.46; results were affected by lower gross margins and higher depreciation, depletion and amortization expenses that were partially offset by lower income taxes vs. last year.

Q3 revenues totaled $1.8B vs. $2.06B a year ago on lower realized pricing in the U.S. and Australia.

Issues upside guidance for FY 2013, seeing unadjusted EPS of $0.27-$0.45 vs. $0.10 consensus estimate.

Improving global economic activity is driving coal demand growth, and supply cutbacks are continuing in China and the U.S., BTU says.

Coal peers also move higher premarket: ACI +3.5%, ANR +3.1%, WLT +2.4%.