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Sep 30, 2021
Peabody Energy Q3 2021 Earnings Report
Peabody Energy reported Q3 2021 results with revenues of $679.0 million and a net loss attributable to common stockholders of $44.2 million.
Key Takeaways
Peabody Energy's Q3 2021 results showed revenues of $679.0 million, which were impacted by $238 million of unrealized mark-to-market losses. The company reported a net loss of $44.2 million, but Adjusted EBITDA reached $289.1 million. They retired $93 million of senior secured debt during the quarter and an additional $30 million after the quarter ended.
Revenues totaled $679.0 million, net of $238 million of unrealized mark-to-market losses.
Net loss attributable to common stockholders was $44.2 million.
Adjusted EBITDA totaled $289.1 million.
The company retired $93 million of senior secured debt during the quarter and an additional $30 million after September 30, 2021.
Revenue by Segment
Forward Guidance
Peabody provided an outlook for the remainder of 2021, including expectations for US Thermal Operations, Seaborne Thermal Operations, and Seaborne Met Operations.
Positive Outlook
- US Thermal Operations: 2021 projected volumes are fully priced and committed.
- Seaborne Thermal Operations: Higher export thermal volumes expected in the fourth quarter compared to previous quarters.
- Wilpinjong fourth quarter volumes are anticipated to include ~2 million tons of export shipments and ~2 million tons of domestic shipments.
- Seaborne Met Operations: The CMJV and Metropolitan are expected to continue recognizing cost and productivity improvements.
- Shoal Creek is anticipated to begin production in the second half of the fourth quarter, with ramp up through the first quarter of 2022.
Challenges Ahead
- US Thermal Operations: Coal deliveries will remain largely dependent on general economic conditions, weather, natural gas prices, utility inventory levels, availability of labor and rail performance.
- Seaborne Thermal Operations: Realized seaborne thermal export pricing varies based on sales timing and product quality as well as optimization strategies.
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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