Peabody Posts $44 Million First Quarter Loss

The Peabody Energy building in downtown St. Louis. | Photo by Nicole Lunger
Peabody Energy saw a 6.9 percent drop in first quarter revenue. | Nicole Lunger/Missouri Business Alert

Peabody Energy announced first quarter revenues of $1.63 billion, a 6.9 percent drop compared to the previous year, on lower coal pricing.

The lower coal pricing offset a 7 percent increase in coal production for the St. Louis-based energy company, which also posted a $44.1 million loss in net income. That translated to an earnings per share loss of 18 cents for shareholders in the quarter.

The loss included a $15.6 million arbitration charge and about $14 million related to port logistic issues, according to the company.

Chairman and CEO Gregory Boyce was optimistic in the face of the negative numbers, saying in a statement that the company will see long-term benefits from a rebounding U.S. coal demand and its positions in high-growth Asian markets.

Read more from the St. Louis Business Journal


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