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Sep 30, 2024
Peabody Energy Q3 2024 Earnings Report
Peabody Energy reported strong operational and safety performance, completed share repurchases, and saw exceptional progress in Centurion development.
Key Takeaways
Peabody Energy reported a net income attributable to common stockholders of $101.3 million for Q3 2024. The company saw strong operational performance across all segments, completed $100 million in share repurchases, and continued to execute its strategy, including a comprehensive update on Centurion.
Reported third quarter Adjusted EBITDA of $224.8 million and generated operating cash flow of $359.9 million.
Centurion development rates continue to exceed expectations, with first customer shipment scheduled for the fourth quarter.
Powder River Basin volumes were better than expected at 22.1 million tons.
Completed $100 million of share repurchases.
Revenue by Segment
Forward Guidance
Peabody provided its fourth quarter 2024 outlook, including volume and cost expectations for its Seaborne Thermal, Seaborne Metallurgical, and U.S. Thermal segments, as well as capital expenditure guidance.
Positive Outlook
- Seaborne Thermal volume is expected to be 4.1 million tons, including 2.5 million export tons.
- Seaborne Metallurgical volume is anticipated to be 2.3 million tons and is expected to achieve 70 to 75 percent of the premium hard coking coal price index.
- PRB volume is expected to be 21.2 million tons at an average price of $13.50 per ton and costs of approximately $11.50-$12.00 per ton.
- Other U.S. Thermal volume is expected to be 3.9 million tons at an average price of $52.40 per ton and costs of approximately $44-$48 per ton.
- Full year volume guidance increased by 200 thousand tons to 16-16.4 million tons due to higher production at Wilpinjong.
Challenges Ahead
- Twentymile is experiencing challenging geological conditions temporarily reducing production.
- Full-year anticipated capital has been increased by $50 million to $425 million primarily due to accelerated development at Centurion and timing of spend at Wambo Open-Cut.
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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