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Dec 31, 2022
Peabody Energy Q4 2022 Earnings Report
Peabody Energy reported record earnings and retired all senior secured debt.
Key Takeaways
Peabody Energy reported a net income of $632.0 million for the fourth quarter of 2022, with record free cash flow of $580 million. The company retired all remaining senior secured debt and is actively addressing the requirements to implement a shareholder return program.
Retired all senior secured debt
Generated record Free Cash Flow of $580 million
Achieved Adjusted EBITDA of $501 million
Attained highest 2022 quarterly production rate in three out of four operating segments
Revenue by Segment
Forward Guidance
Peabody provided the following outlook for Q1 2023:
Positive Outlook
- PRB volume is expected to be approximately 22 million tons at an average price of $13.80 per ton and cost of approximately $11.60 per ton.
- Other U.S. Thermal volume is expected to be approximately 4.7 million tons at an average price of $52.50 per ton and cost of approximately $40 per ton.
Challenges Ahead
- Export volume is expected to be 1.8 million tons, less than ratable to full-year guidance, due to lower production as a result of a longwall move at Wambo Underground and recovery from heavy rains in the fourth quarter.
- Costs are expected to be $60-$65 per ton for Seaborne Thermal.
- Seaborne met volumes are expected to be 1.3-1.5 million tons, less than ratable to full-year guidance due to heavy rains in Queensland and geologic conditions at Shoal Creek.
- Costs are expected to be $140-$150 per ton for Seaborne Metallurgical.
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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