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Mar 31, 2023
Peabody Energy Q1 2023 Earnings Report
Peabody Energy reported strong financial results for Q1 2023, driven by increased Adjusted EBITDA and operating cash flow, and initiated a robust shareholder return program.
Key Takeaways
Peabody Energy reported a net income of $268.5 million for Q1 2023, a significant increase compared to the net loss of $119.5 million in Q1 2022. The company's Adjusted EBITDA reached $390.6 million, up nearly 20% from the previous year. Peabody also generated $386 million in operating cash flow and initiated a $1.0 billion share repurchase authorization.
Initiated a $1.0 billion share repurchase authorization.
Adjusted EBITDA reached $391 million and Operating Cash Flow landed at $386 million.
Seaborne Thermal export volumes exceeded expectations by 17%, reaching 2.1 million tons.
Completed pre-funding of all long-term mine closure and reclamation obligations.
Revenue by Segment
Forward Guidance
Peabody Energy provided the following outlook for the second quarter of 2023:
Positive Outlook
- Seaborne Thermal volumes are expected to be 4.0 million tons, including 2.6 million export tons.
- 1.0 million Seaborne Thermal export tons are priced at $243 per ton.
- Seaborne Metallurgical volumes are expected to be 1.7 million tons.
- 0.5 million Seaborne Metallurgical tons are priced at $244 per ton.
- PRB average price of $13.70 per ton and cost of approximately $12.00 per ton.
Challenges Ahead
- Seaborne Thermal costs are expected to be $50-$55 per ton.
- Remaining unpriced Seaborne Metallurgical volumes are expected to achieve 75 to 80 percent of the premium hard coking coal price index.
- PRB volume is expected to be approximately 21 million tons
- Other U.S. Thermal volume is expected to be approximately 4.3 million tons
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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