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Dec 31, 2023
Peabody Energy Q4 2023 Earnings Report
Peabody Energy's Q4 2023 earnings were reported, with net income attributable to common stockholders at $192.0 million and Adjusted EBITDA at $345.1 million.
Key Takeaways
Peabody Energy reported a net income of $192.0 million for Q4 2023, a decrease compared to the prior year's $632.0 million. The company's Adjusted EBITDA was $345.1 million, also lower than the $500.5 million reported in Q4 2022. Full-year revenue reached $4,946.7 million. The company repurchased over 11 percent of shares outstanding in 2023 and commenced new longwall production at Shoal Creek ahead of schedule.
Reported full year Adjusted EBITDA of $1,364 million and operating cash flow from continuing operations of $1,116 million.
Cash and Cash Equivalents were $969 million at the end of the year.
PRB shipped 23.6 million tons in the quarter, the highest quarterly volume since 2019.
Announced 2023 total shareholder returns of $471 million.
Revenue by Segment
Forward Guidance
Peabody provided guidance for the first quarter of 2024, including expected volumes and costs for its Seaborne Thermal, Seaborne Metallurgical, and U.S. Thermal segments.
Positive Outlook
- Seaborne Thermal volumes are expected to be 3.9 million tons, including 2.5 million export tons.
- 0.3 million Seaborne Thermal export tons are priced at $181 per ton.
- PRB volume is expected to be approximately 21 million tons.
- Other U.S. Thermal volume is expected to be approximately 3.6 million tons.
- Seaborne metallurgical sales are anticipated to price at 65-70% of the premium hard-coking coal index price
Challenges Ahead
- 1.1 million tons of Newcastle Seaborne Thermal product and 1.1 million tons of high ash product are unpriced.
- Seaborne Thermal costs are anticipated to be $48-$53 per ton.
- Seaborne Metallurgical volumes are expected to be 1.4 million tons.
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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