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Mar 31, 2020
Peabody Energy Q1 2020 Earnings Report
Peabody Energy reported first quarter earnings, which included revenue of $846.2 million and a net loss attributable to common stockholders of $129.7 million.
Key Takeaways
Peabody Energy reported a challenging first quarter in 2020, with revenues declining to $846.2 million compared to $1.25 billion in the prior year. The company experienced a net loss attributable to common stockholders of $129.7 million, with a diluted loss per share of $1.31. Peabody is focused on cost reduction and safeguarding financial flexibility amid the COVID-19 pandemic.
Revenues totaled $846.2 million compared to $1.25 billion in the prior year, impacted by lower volumes and pricing.
Net loss attributable to common stockholders was $129.7 million, with a diluted loss per share of $1.31.
Adjusted EBITDA was $36.8 million, reflecting lower realized pricing and higher seaborne metallurgical costs.
Company is implementing cost reduction activities and focusing on cash generation at lower pricing levels.
Revenue by Segment
Forward Guidance
Peabody has decided to suspend full-year 2020 guidance due to uncertainties with respect to COVID-19, including the duration, severity, scope, and necessary government actions to limit the spread.
Positive Outlook
- Company is proceeding with the main line conveyor system upgrade at Shoal Creek.
- Mining has recently resumed at Metropolitan following a longwall move in the first quarter.
- Peabody currently has 3.2 million short tons of export thermal coal priced for the remainder of the year.
- Based on actions to date, 2020 SG&A has been reduced to approximately $120 million.
- Capital expenditures have been reduced to approximately $235 million and are focused on sustaining and compliance activities.
Challenges Ahead
- Uncertainties with respect to COVID-19, including the duration, severity, scope, and necessary government actions to limit the spread.
- Deliveries will be dependent on general economic conditions, weather, natural gas prices and other factors.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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