Peabody Energy reported a net income of $39.6 million for Q1 2024, a decrease from $268.5 million in the prior year quarter. Adjusted EBITDA was $160.5 million, also lower than the $390.6 million in the previous year. The company reaffirmed its full-year guidance and completed the acquisition of Wards Well.
Reported first quarter Adjusted EBITDA of $160.5 million and generated operating cash flow from continuing operations of $120.3 million.
Repurchased 3.2 million shares, or 3% of shares outstanding, for $80.4 million.
Acquired a large portion of the Wards Well coal deposit immediately adjacent to the company's Centurion Mine complex.
Centurion remains on track for development coal in the second quarter of 2024 and longwall production in the first quarter of 2026 with capital expenditures in line with previous guidance.
Peabody Energy provided guidance for the second quarter of 2024.
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