Peabody Energy Announces Results for the Quarter Ended June 30, 2009
Wednesday, July 22nd, 2009
Peabody Energy (NYSE: BTU) report second quarter EBITDA of $323.6 million compared with $446.9 million in the comparable prior year quarter. Income from continuing operations, including the non-cash expense from currency-driven remeasurement of foreign income taxes, was $87.7 million with related earnings per share of $0.31. Adjusted income from continuing operations, excluding the tax remeasurement expense, totaled $135.4 million with adjusted earnings per share of $0.49. Quarterly revenues were $1.34 billion on 59.5 million tons sold.
“Peabody continues to deliver positive earnings in the face of the worst global recession in generations,” said Peabody Energy Chairman and Chief Executive Officer Gregory H. Boyce. “Emerging Asia holds the world’s fastest-growing economies, and those economies are fueled by coal. As the Pacific markets far outpace other major economies, Peabody has the best leverage, and the majority of our focus and investments will be in these key regions. Based on current trends in the Pacific markets, we expect to increase our Australia metallurgical and thermal coal sales in 2010, using existing capacity.”
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