Peabody Energy (NYSE:BTU) -1.6% post-market Thursday after reporting Q2 preliminary revenues of $1.31B-$1.34B, below $1.41B analyst consensus estimate, with net income from continuing operations of $400M-$420M and adjusted EBITDA of $570M-$590M.
Peabody (BTU) also said it ended the quarter with $544M of cash margin posted and $1.12B of cash and cash equivalents, and has paid down nearly $90M YTD in senior secured debt.
The company reported a $23M loss and $122M adjusted EBITDA in the year-ago quarter.
“With substantial cash generation this quarter despite continued operational challenges including rail performance in the PRB and weather in Australia, we believe we are positioned for a stronger second half,” President and CEO Jim Grech said.
Peabody Energy (BTU) has “yet to fully start taking advantage of the favorable coal price environment, but that will change in time,” Zoltan Ban writes in a bullish analysis posted recently on Seeking Alpha.