Peabody Energy Corporation (BTUUQ) - OTCPK - Current
  • Oct. 27, 2015, 12:38 PM
    • Coal-focused Consol Energy (CNX -17.3%) and Peabody Energy (BTU -16.3%) are tanking after reporting Q3 earnings.
    • CNX reported a $0.28/share loss, much weaker than analysts' expectations for a $0.05 loss, on revenue of $814M, better than the expected $723M; BTU's massive $8.13/share loss actually came in ahead of estimates.
    • CNX, which in recent years has moved to shift more to natural gas, says it is beginning to see signs of potential improvement in the nat gas industry but offers no positive words for the coal industry, especially for thermal coal used to make electricity.
    • In its earnings conference call, CNX execs declined comment about reports its joint venture in the Utica Shale with Hess could be sold.
    • For BTU, Q3 Australian results rose as costs fell 28% Y/Y to $48.11/metric ton, benefiting from the low Australian dollar.
    • BTU lowers its U.S. production guidance by 5M metric tons to 175M-185M, down from 180M-190M, with total sales volume, including Australia and trading and brokerage, cut to 222M-237M metric tons from 225M-245M.
    | Oct. 27, 2015, 12:38 PM | 2 Comments
  • Oct. 27, 2015, 7:15 AM
    • Peabody Energy (NYSE:BTU): Q3 EPS of -$8.13 beats by $0.25.
    • Revenue of $1.42B (-17.4% Y/Y) beats by $20M.
    | Oct. 27, 2015, 7:15 AM | 10 Comments
  • Oct. 26, 2015, 5:30 PM
    | Oct. 26, 2015, 5:30 PM | 33 Comments
  • Oct. 16, 2015, 5:15 PM
    • Arch Coal (NYSE:ACI) and Peabody Energy (NYSE:BTU) have "a reasonable likelihood of default," Fitch Ratings says, noting that bankruptcy filings from both companies would leave 55% of average coal industry debt in default.
    • An ACI default is "more likely," Fitch says, expecting a bankruptcy filing or default triggered by a missed interest payment before year-end, while BTU is "marginally less dire given its lack of near term maturities and sufficient liquidity to sustain operations for the time being, but there is substantial credit risk."
    • Although a potential 55% coal bond default rate is "enormous," Fitch says coal debt is just a $15B slice of the $1.43T junk bond market.
    | Oct. 16, 2015, 5:15 PM | 31 Comments
  • Oct. 13, 2015, 12:10 PM
    • Peabody Energy (BTU -2.1%) and Arch Coal (ACI -1.4%) are downgraded to Underweight from Neutral at J.P. Morgan, which expects growing shale gas supplies will keep gas prices down again next year, capping the upside for coal prices amid "the sausage machine of re-organization" in the coal industry.
    • "The natural gas market remains oversupplied [as] utility coal stockpiles are building and the strong U.S. dollar is hurting coal exports," the firm says, adding that "currencies aren’t helping much by delaying the required supply response."
    | Oct. 13, 2015, 12:10 PM | 9 Comments
  • Oct. 7, 2015, 12:41 PM
    • Peabody Energy (BTU -8.9%) and Cloud Peak Energy (CLD -1.6%) give back some of yesterday's gains, as Morgan Stanley says coal prices could remain weak for a few more years and forecasts U.S. utility coal burn to fall by 75 metric tons Y/Y to 774 metric tons in 2015 and remain near that level until 2020.
    • The firm downgrades BTU and CLD to Equal Weight from Overweight, saying both companies need an uptick in coal pricing to remain or return to free cash flow positive.
    • Also: ACI -12.2%, WLB -1.4%, CNX +4.4%, ARLP +2.6%.
    • Earlier: Things can't get much worse for coal after disastrous 2015, analyst says (Oct. 6)
    | Oct. 7, 2015, 12:41 PM | 9 Comments
  • Oct. 6, 2015, 7:11 PM
    • Most utilities that are able to switch to cleaner burning and cheaper natural gas already have done so, BB&T Capital said in a new report that may have helped propel coal company stocks (NYSEARCA:KOL) to big gains today.
    • Newly implemented federal regulations prompted closures of several coal-fired power plants in 2015, and natural gas prices that have dropped 37% in the past year made that fuel more attractive than coal for electricity generation.
    • "The good news is that we can’t even fathom a fall in coal demand in 2016 that resembles anything like what happened in 2015,” BB&T's Mark Levin writes.
    • The worst case for coal next year is for demand to slide another 2%-4% rather than the 10% drop suffered in 2015, according to Levin, but Bloomberg analysts warn that coal producers may want to brace themselves as the flood of cheap gas flowing into power plants shows no signs of receding.
    • In today's trade: BTU +34.9%, ACI +33.3%, CLD +6.6%, ARLP +3.1%, CNX +1%, WLB -0.5%.
    | Oct. 6, 2015, 7:11 PM | 28 Comments
  • Oct. 6, 2015, 12:44 PM
    | Oct. 6, 2015, 12:44 PM | 3 Comments
  • Oct. 1, 2015, 12:34 PM
    • Coal stocks (KOL -0.7%) are broadly lower after Moody's issues a weak forecast for the North American coal industry, saying the outlook "remains negative amid ongoing challenges for both metallurgical and thermal coal, including declining coal consumption and low met coal prices."
    • The ratings agency forecasts a ~10% Y/Y decline in the industry's EBITDA for 2016, following the 25% drop it anticipates for 2015.
    • BTU -10.7% after allowing for a 1-for-15 reverse split that took effect today; also ACI -5.4%, CNX -6.4%, WLB -5.1%, CLD -3%, ARLP -0.7%.
    | Oct. 1, 2015, 12:34 PM | 10 Comments
  • Oct. 1, 2015, 9:15 AM
    | Oct. 1, 2015, 9:15 AM
  • Sep. 24, 2015, 3:22 PM
    • Peabody Energy (BTU +25.4%) is surging following a Bloomberg report that a group of the company's senior lenders hired New York-based law firm Davis Polk & Wardwell in anticipation of talks to restructure its $6.3B in debt.
    • The creditors hold BTU's $1.17B first-lien term loan and are concerned that any proposal by BTU could dilute the value of the assets that secure the debt.
    • The news suggests BTU is serious about de-leveraging, and that such a move has the potential to wipe out some of the value of its outstanding debt.
    • Arch Coal's (ACI +38.6%) agreement to extend its debt exchange plan for another month, seen as a potential benchmark for a debt swap by BTU, also is helping shares.
    • Along for the ride: CLD +4.7%, WLB +5.4%.
    | Sep. 24, 2015, 3:22 PM | 6 Comments
  • Sep. 24, 2015, 12:40 PM
    | Sep. 24, 2015, 12:40 PM
  • Sep. 22, 2015, 9:21 AM
    | Sep. 22, 2015, 9:21 AM | 2 Comments
  • Sep. 18, 2015, 6:21 PM
    • Boosted by a recent victory in Colorado, environmental groups are expanding their legal campaign to try stop coal mining by challenging permits for some of the largest mines in the western U.S.
    • This time, WildEarth Guardians is asking a federal judge to block mining at Cloud Peak Energy's (NYSE:CLD) Antelope mine in Wyoming, Arch Coal's (NYSE:ACI) Black Thunder mines in Wyoming, Peabody Energy's (NYSE:BTU) El Segundo mine in New Mexico, and others.
    • Rather than just saying U.S. regulators should take the climate change impacts of individual mines into account before approving permits, the group is finding some success by claiming regulators should be considering the cumulative effect of mining as a whole and whether the U.S. should allow any more.
    • Another court win could lead regulators to change their approach and start taking climate change into account before approving future coal leases, some law professors say.
    | Sep. 18, 2015, 6:21 PM | 35 Comments
  • Sep. 17, 2015, 12:41 PM
    | Sep. 17, 2015, 12:41 PM | 8 Comments
  • Sep. 17, 2015, 9:15 AM
    | Sep. 17, 2015, 9:15 AM
Company Description
Peabody Energy Corp. engages in the business of coal mining. It operates through the following segments: Powder River Basin Mining; Midwestern U.S. Mining; Western U.S. Mining; Australian Metallurgical Mining; Australian Thermal Mining; Trading and Brokerage; and Corporate and Other. The U.S.... More
Industry: Industrial Metals & Minerals
Country: United States