Peabody Energy Net Income Drops 85 Percent

Peabody Energy reported third-quarter net income of $41.6 million, down 85 percent from last year’s quarter.

The coal company said for the quarter ended Sept. 30, its revenue grew 4 percent to $2.06 billion compared with the third quarter last year.

While the global coal market “remains challenged,” he said there are indications that markets are stabilizing through U.S. gas-to-coal switching, higher European coal-fueled generation and increased China infrastructure spending.

Read more on St. Louis Business Journal.


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