New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 5, 2014
05:26 EDTBTUPeabody reduces production at Burton Mine in Australia
Peabody Energy announced that it is reducing metallurgical coal production by approximately 1.5M tons per year from the Burton Mine in Queensland, Australia. The Burton Mine is Peabody's highest unit-cost operation, and production levels are not sustainable in the current market environment. Following negotiations with the contractor operator, production levels are expected to be reduced to approximately 1M tons per year, as the operation targets lower-cost reserves using reduced fleets of equipment. Peabody also reduced its annual average Australian cost estimate to the low $70 per ton range while raising Q3 financial targets. The company is reducing 2014 targeted metallurgical coal sales from the Australian platform by 1M tons to 15M-16M tons, with new Australian sales targets of 34M-36M tons.
News For BTU From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
December 17, 2014
11:29 EDTBTUJoy Global sees U.S coal market to be challenged in 2015
Joy Global says U.S. coal exports are likely to decline this year. Falling gas prices attributable to warmer weather will result in a switch to gas for electricity production. Publicly traded companies in the coal space include Alliance Resource Partners (ARLP), Alpha Natural (ANR), Arch Coal (ACI), CONSOL (CNX), Cloud Peak (CLD), Peabody (BTU) and Walter Energy (WLT).
December 8, 2014
07:26 EDTBTUPeabody still sees FY14 coal sales volumes 245M-255M tons
Peabody Energy Corporation said in a filing that it reaffirms its prior guidance regarding 2014 coal sales volumes, U.S. revenues per ton, operating costs and expenses per ton and capital spending. Specifically, Peabody continues to target full-year 2014 sales volumes of 245 to 255 million tons, including U.S. sales of 185 to 190 million tons and Australian sales of 36 to 38 million tons. Peabody's targeted 2014 Australian sales volumes include 16 to 17 million tons of metallurgical coal and 12 to 13 million tons of seaborne thermal coal. In the U.S., Peabody continues to project a 2% to 4% decrease in revenues per ton compared to the prior year. Peabody also continues to expect a 1% to 3% decrease in its U.S. operating costs and expenses per ton in 2014 compared to the prior year and 2014 Australian operating costs and expenses of approximately $70 per ton, in addition to 2014 capital spending levels of $200M-$220M.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use