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Peabody Energy (BTU) Incurs Loss in Q2, Revenues Miss Mark
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Peabody Energy Corp. (BTU - Free Report) announced second-quarter 2017 loss of 18 cents per share. The Zacks Consensus Estimate for the quarter was pegged at earnings of 89 cents. The company had posted a loss of $12.30 per share in second-quarter 2016.
Revenue
Peabody Energy’s quarterly revenues of $1,258.3 million increased 21.2% year over year from $1,040.2 million. However, revenues missed the Zacks Consensus Estimate of $1,263 million by 5% year over year.
Peabody Energy Corporation Price, Consensus and EPS Surprise
Peabody Energy’s total sales volume in the quarter was 6.6 million tons. Per the company, the sales volume was negatively impacted by the effects of rail disruptions caused by Cyclone Debbie in Australia.
Operating costs and expenses incurred in the reported quarter declined 6.2% year over year to $934.8 million from $996.2 million, which was an outcome of the company’s cost-saving measures.
Revenues per ton in the U.S. decreased 7.6% year over year to $18.91, while revenues per ton in Australia rose 60.6% to $79.54.
Peabody Energy’s second-quarter 2017 adjusted earnings before interest, tax, depreciation and amortization (“EBITDA”) were $317.8 million, marking a rise of 338% from $72.6 million year over year.
Operating profit in second-quarter 2017 was $146 million compared with the operating loss of $107.7 million a year ago.
Financial Update
As of Jun 30, cash and cash equivalents at end of period was $ 1,095.7 million compared to $872.3 million as of Dec 31, 2016.
As of Jun 30 long-term debt of the company was $1,768.1 million.
Guidance
For the full year 2017, the company expects the capital expenditure to be in the range of $165–$195 million.
CONSOL Energy Inc. (CNX - Free Report) reported earnings of 17 cents per share in second-quarter 2017, beating the Zacks Consensus Estimate of 10 cents by 70.0%.
SunCoke Energy (SXC - Free Report) reported loss of 7 cents per share in the second quarter of 2017, narrower than the Zacks Consensus Estimate of a loss of 14 cents.
Cloud Peak Energy reported a loss of 4 cents per share in the second quarter of 2017, which was in line with the Zacks Consensus Estimate.
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Peabody Energy (BTU) Incurs Loss in Q2, Revenues Miss Mark
Peabody Energy Corp. (BTU - Free Report) announced second-quarter 2017 loss of 18 cents per share. The Zacks Consensus Estimate for the quarter was pegged at earnings of 89 cents. The company had posted a loss of $12.30 per share in second-quarter 2016.
Revenue
Peabody Energy’s quarterly revenues of $1,258.3 million increased 21.2% year over year from $1,040.2 million. However, revenues missed the Zacks Consensus Estimate of $1,263 million by 5% year over year.
Peabody Energy Corporation Price, Consensus and EPS Surprise
Peabody Energy Corporation Price, Consensus and EPS Surprise | Peabody Energy Corporation Quote
Operational Update
Peabody Energy’s total sales volume in the quarter was 6.6 million tons. Per the company, the sales volume was negatively impacted by the effects of rail disruptions caused by Cyclone Debbie in Australia.
Operating costs and expenses incurred in the reported quarter declined 6.2% year over year to $934.8 million from $996.2 million, which was an outcome of the company’s cost-saving measures.
Revenues per ton in the U.S. decreased 7.6% year over year to $18.91, while revenues per ton in Australia rose 60.6% to $79.54.
Peabody Energy’s second-quarter 2017 adjusted earnings before interest, tax, depreciation and amortization (“EBITDA”) were $317.8 million, marking a rise of 338% from $72.6 million year over year.
Operating profit in second-quarter 2017 was $146 million compared with the operating loss of $107.7 million a year ago.
Financial Update
As of Jun 30, cash and cash equivalents at end of period was $ 1,095.7 million compared to $872.3 million as of Dec 31, 2016.
As of Jun 30 long-term debt of the company was $1,768.1 million.
Guidance
For the full year 2017, the company expects the capital expenditure to be in the range of $165–$195 million.
Zacks Rank
Peabody Energy has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Peers Release
CONSOL Energy Inc. (CNX - Free Report) reported earnings of 17 cents per share in second-quarter 2017, beating the Zacks Consensus Estimate of 10 cents by 70.0%.
SunCoke Energy (SXC - Free Report) reported loss of 7 cents per share in the second quarter of 2017, narrower than the Zacks Consensus Estimate of a loss of 14 cents.
Cloud Peak Energy reported a loss of 4 cents per share in the second quarter of 2017, which was in line with the Zacks Consensus Estimate.
More Stock News: Tech Opportunity Worth $386 Billion in 2017
From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future.
Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential. See these stocks now>>