Peabody Energy reports revenue decline

The Peabody Energy building in downtown St. Louis. | Nicole Lunger/Missouri Business Alert
Peabody reported declining revenue and an operating loss for the quarter completed Sept. 30. | Nicole Lunger/Missouri Business Alert

St. Louis-based Peabody Energy reported revenue of $1.72 billion for the third quarter, down 4.2 percent from the third quarter of 2012. Peabody reported a loss from continuing operations of $154 million, due in part to a tax expense related to the repeal of a minerals resource rent tax in Australia. The company reported a profit from continuing operations of $24 million in the prior-year quarter.

“In the face of challenging times for the coal industry, Peabody continues to control the controllable and take the necessary actions to best position the company through strong operating performance, solid operating cash flows, lower costs and reduced capital targets,” Greg Boyce, chairman and CEO, said in a statement.

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