Peabody Energy Q1 Loss Widens On Lower Revenues, Results Miss View - Quick Facts

(RTTNews) - Coal producer Peabody Energy Corp. (BTU) reported that its first-quarter net loss attributable to common stockholders widened to $48.5 million or $0.18 per share from loss of $23.4 million or $0.09 per share in the year-ago quarter.

Loss from continuing operations for the quarter was $44.3 million or $0.18 per share, wider than loss of $10.3 million or $0.05 per share in the prior year. The latest quarter's results include a $0.08 per share impact from an arbitration charge and port logistic issues as well as a $0.16 per share impact from a lower-than-expected tax benefit.

Adjusted loss for the quarter was $0.19 per share, compared to adjusted loss of $0.05 per share in the prior-year quarter. On average, twenty three analysts polled by Thomson Reuters expected the company to report loss of $0.01 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly revenues declined to $1.63 billion from last year's $1.75 billion, reflecting lower realized pricing that was partly offset by a 7 percent increase in sales volumes to 61.3 million tons. Analysts had a consensus revenue estimate of $1.68 billion for the quarter.

Looking ahead to the second quarter, Peabody forecasts adjusted loss in a range of $0.39 per share to $0.14 per share. Street expects the company to report loss of $0.20 per share for the quarter.

For fiscal 2014, Peabody affirmed its outlook for total sales of 245 to 265 million tons, including U.S. sales of 185 to 195 million tons and Australian sales of 35 to 37 million tons.