Despite Peabody’s Strong Earnings, Coal Stocks Fall (BTU, WLT, PCX, ANR, CLD)
Shares of Peabody Energy (BTU), the largest U.S. coal producer, are down 2% despite a solid first-quarter earnings report. Missouri-based Peabody said it earned $176.5 million, or 65 cents a share, compared with $133.7 million, or 50 cents a share, a year earlier as revenue climbed 15% to $1.74 billion, but the revenue number missed the consensus estimate of $1.75 billion. Analysts expected a profit of 61 cents a share.
The company even offered up a strong second-quarter outlook, but that isn’t proving to be enough to prevent the Coal Stocks Index from a decline of 0.6% today. The Index has slid almost 6% in the past month.
Peabody said it expects an adjusted second-quarter profit of 85 cents-$1.10 a share and a full-year profit of $3.50-$4.50, but the company did leave its full-year production unchanged at 245-265 million tons of coal. The company said its first-quarter volumes in Australia were strong despite the bad weather that hit the country and that it expects volumes there to remain robust in the current quarter. Peabody has the largest Australian footprint of any U.S.-based coal producer.
Looking at other coal stocks, Walter Energy (WLT) is up 1% ahead of its earnings report on Wednesday. Patriot Coal (PCX) is up fractionally. The company delivers its quarterly results on Thursday. Alpha Natural Resources (ANR) and Cloud Peak Energy (CLD) are down 1% and 3%, respectively. Both companies report earnings on May 4.
Investors can track the Coal Stocks Index for performance trends and a suite of other metrics at tickerspy.com.
More on this topic (What's this?)
Bull & Bear: Peabody Energy Corporation (Benzinga, 4/11/11)
(BTU) Peabody Energy Earnings Likely to Miss (Stock Blog Hub, 5/3/13)
Buy, Sell or Hold: Peabody Energy Corp. (NYSE: BTU) May Be Too Hot to Handle (Money Morning, 3/7/11)
|Home | Find | Research | Track | Register | My Account | Logout||Web site design by LightMix|
|© 2011 Indie research Corp. All rights reserved.|