Business

Peabody 2 Quater Earnings Slip

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PEABODY

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 This material may not be published, broadcast, rewritten or redistributed.)

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