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


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%.

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Comments (3)
  • Calabres
    , contributor
    Comments (28) | Send Message
     
    Long BTU!!
    17 Oct 2013, 09:29 AM Reply Like
  • larry56love
    , contributor
    Comments (28) | Send Message
     
    Take that Hussein!
    17 Oct 2013, 09:36 AM Reply Like
  • BermudaHigh
    , contributor
    Comments (568) | Send Message
     
    Aaah, the pain of the shorts...it's a beautiful thing.
    17 Oct 2013, 09:45 AM Reply Like
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