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Jun 30, 2024
Peabody Energy Q2 2024 Earnings Report
Peabody Energy reported net income of $199.4 million and Adjusted EBITDA of $309.7 million, which included $80.8 million from an insurance settlement. The company achieved first development coal at Centurion and announced $100 million for additional share repurchases.
Key Takeaways
Peabody Energy reported a net income attributable to common stockholders of $199.4 million, or $1.42 per diluted share, for Q2 2024. Adjusted EBITDA was $309.7 million, including an $80.8 million insurance settlement. The company also announced an additional $100 million for share repurchases.
Reported second quarter Adjusted EBITDA of $309.7 million.
Achieved first development coal at Centurion; second continuous miner commissioned in July.
Increased Seaborne Thermal revenue and Adjusted EBITDA margin per ton.
Reached $109.5 million insurance settlement at Shoal Creek.
Revenue by Segment
Forward Guidance
Peabody has updated its full year volume expectations for Seaborne Thermal, Seaborne Metallurgical, and PRB. Third quarter volume and cost expectations were provided for Seaborne Thermal, Seaborne Metallurgical and Other U.S. Thermal.
Positive Outlook
- Full year Seaborne Thermal volume increased by 500k tons.
- 600k export tons are priced at $120.45 per ton for Seaborne Thermal.
- Third quarter PRB volume is expected to be 21.5 million tons.
- Third quarter Other U.S. Thermal volume is expected to be 4.0 million tons.
- Centurion is expected to have a mine life in excess of 25 years and average annual longwall production of 4.7 million tons.
Challenges Ahead
- Full year Seaborne Metallurgical volume lowered by 600k tons due to geological conditions.
- Full year PRB volume lowered 5 million tons.
- Seaborne Metallurgical costs are now expected to be $118-$128 per ton.
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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