Peabody 2 Quater Earnings Slip

View Comments

ST. LOUIS (AP) — Coal miner Peabody Energy Corp. says its second-quarter profit fell, hurt by lower prices for coal and competition from cheaper natural gas, although the results still beat Wall Street expectations.

The world’s biggest private-sector coal company says net income attributable to common shareholders totaled $204.7 million, or 75 cents per share, down from $284.8 million, or $1.05 cents, a year earlier.  Revenue totaled $2.0 million, on par with $1.98 billion a year earlier.

On average, analysts polled by FactSet expected Peabody to earn 53 cents per share on revenue of $2.06 billion.

St. Louis-based Peabody forecast third-quarter earnings at 20 to 45 cents per share.

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

View Comments
blog comments powered by Disqus

Get every new post delivered to your Inbox.

Join 4,822 other followers