Peabody Energy Q4 Loss Narrows, But Revenues Miss View - Quick Facts

(RTTNews) - Coal producer Peabody Energy Corp. (BTU) reported that its fourth-quarter net loss attributable to common stockholders was $565.7 million or $2.12 per share, narrower than net loss of $1.01 billion or $3.78 per share in the year-ago quarter.

Loss from continuing operations for the quarter narrowed to $401.1 million or $1.52 per share from $991.3 million or $3.73 per share in the prior year.

Adjusted results for the quarter were breakeven per share, compared to loss of $1.12 per share in the prior-year quarter. On average, twenty five analysts polled by Thomson Reuters expected the company to report loss of $0.10 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly revenues declined 14 percent to $1.74 billion from last year's $2.02 billion, reflecting lower realized pricing in the U.S. and Australia. Analysts had a consensus revenue estimate of $1.77 billion for the quarter.

Looking ahead to the first quarter of fiscal 2014, Peabody forecasts adjusted results in a range of loss of $0.10 per share to profit of $0.14 per share. Street expects the company to report loss of $0.04 per share for the quarter.

The company is expecting increased volumes and improving costs in the second half of the year following operational improvements made in the first quarter.

For fiscal 2014, Peabody targets total sales of 245 to 265 million tons, including U.S. sales of 185 to 195 million tons, Australian sales of 35 to 37 million tons, and the remainder from Trading and Brokerage activities.