Peabody Energy's (NYSE:BTU) net income fell in the second quarter.
Earnings and Revenue The company managed to beat EPS estimates, though the company's revenues failed to top expectations. The company reported EPS of 78 cents a share versus the 53 cents a share estimate and revenues of $2 billion versus the $2.06 billion estimate. The company's reported EPS came in above the high estimate of 19 analysts of a profit of 64 cents.
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The company's net income for the quarter was $207.8 million. According to the reported number, this is down 28.9% from last year's levels. Revenue climbed 0.9% from $2.01 billion in the same period last year.
History Against Expectations The company has now topped analyst estimates for the last three quarters.
Official Comment: "Peabody's diversified global platform continues to deliver solid cash flows and earnings in a choppy market environment," said Peabody Energy Chairman and Chief Executive Officer Gregory H. Boyce. "While we see some bright spots within the global coal markets, there remain macroeconomic and industry challenges that Peabody is well positioned to weather given our global position and financial strength. In the United States, we have increased earnings contributions even in the face of lower volumes. And in Australia, we are addressing challenges through a number of initiatives to further strengthen our growing long-term platform."
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.