The world’s biggest private-sector coal company says net income totaled $42.9 million, or 16 cents per share, down from $274.1 million.
Peabody hurt by lower prices for coal and competition from cheaper natural gas.
The company also said it expects a second-quarter loss but anticipates a third-quarter profit.
Demand softened for coal used by utilities to generate electricity due to unseasonably warm weather.
Revenue climbed to $1.71 billion from $1.22 billion.