NYSE$BTU
Peabody Energy Corporation · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Peabody Energy reported a net loss for Q1 2022, impacted by unrealized mark-to-market losses and early debt extinguishment, but saw revenue increase due to higher realized prices.
Peabody Energy reported a net loss of $119.5 million for the first quarter of 2022, influenced by a $301.0 million charge for unrealized mark-to-market losses related to coal hedging activities and a $23.5 million net loss on early debt extinguishment. However, revenue from coal sales increased by 58% to $1,039 million compared to the prior year quarter, driven by higher realized prices.
- Overcame production and logistic challenges in Australia related to record rain fall and COVID induced labor shortages and instituted recovery plans to recapture volumes over the remainder of the year
- Invested over $40 million in the PRB and Midwest mining operations to enable higher production levels over the remainder of 2022
- Strengthened the balance sheet with $42 million of additional debt repayment and a $320 million convertible notes offering to retire higher cost debt and extend maturities to 2028
- Launched R3 Renewables, a renewable energy development company, in a joint venture with Riverstone Credit Partners and Summit Partners Credit Advisors to pursue the development of over 3.3 GW of solar PV and 1.6 GW of battery storage capacity over the next five years
Headline financials
Revenue & EPS history
Peabody Energy · Revenue · Quarterly
$691M
Revenue by segment
Peabody Energy · $691M total across 5 segments · Q1 2022
- Seaborne Metallurgical$321M+267.2%46.5%
- Seaborne Thermal$251M+42.4%36.3%
- Powder River Basin$251M+10.0%36.3%
- Other U.S. Thermal$203M+36.0%29.4%
- Corporate and Other-$335M-3557.7%-48.5%
Forward guidance
Peabody anticipates higher U.S. thermal volumes, consistent PRB pricing in Q2 with increases in the second half, and decreased costs in Q2. Seaborne thermal export volumes are expected to increase in the second half. Seaborne met volumes are expected to be higher in the second half of the year.
Tailwinds
- U.S. thermal volumes are expected to be higher than prior year.
- Second quarter sales volumes are expected to be higher than the first quarter for the PRB segment and increase to 5 million tons for the Other U.S. Thermal segment.
- Price per ton for the second quarter is expected to be consistent with the first quarter; higher PRB pricing is expected in the second half of the year.
- Second quarter costs are anticipated to decrease compared to the first quarter as a result of higher volumes and lower one-time expenses.
- Seaborne thermal volumes are expected to be higher in the second half of the year as a result of re-establishing mine sequencing from the severe rains and the completion of the planned longwall move at Wambo Underground.
Headwinds
- Cost per ton for the full year are anticipated to be at the high end of guidance due to inflationary pressures.
- For the second quarter, approximately 1.2 million tons of export sales are priced at $95 per ton.
- Second quarter costs per ton are expected to remain consistent with first quarter results.
- Cost per ton for the full year are anticipated to be at the high end of the guidance range due to the significant weather events, continued staffing challenges, inflationary pressures and increased royalties due to higher realized prices.
- Second quarter costs per ton are expected to be higher than the first quarter due to a higher mix of Shoal Creek production, longwall restart costs at Metropolitan and higher overburden removal and repair costs at Coppabella.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2022
-2.0%
Avg return
Earnings day
-1.9%
Avg return
5 days after
+1.2%
Avg return
30 days after
39%
14 / 36 earnings
Positive
+25.2%
Q4 2021
Best reaction
-29.0%
Q3 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.8% | -11.0% | +17.7% | |
| Q4 2025 | -2.2% | +2.7% | -8.3% | |
| Q3 2025 | -4.7% | +8.9% | +0.9% | |
| Q1 2025 | +9.2% | +5.6% | -2.6% | |
| Q4 2024 | -9.1% | -3.8% | -30.6% | |
| Q3 2024 | +7.2% | +10.2% | -3.4% | |
| Q2 2024 | -0.8% | -3.7% | +5.4% | |
| Q1 2024 | +2.8% | +2.3% | +15.6% | |
| Q4 2023 | -2.5% | -4.4% | +4.7% | |
| Q3 2023 | +0.6% | -4.4% | -2.8% | |
| Q2 2023 | -3.7% | -0.7% | -4.5% | |
| Q1 2023 | +2.6% | -0.3% | -20.3% | |
| Q4 2022 | +12.1% | +7.3% | -11.2% | |
| Q3 2022 | +16.2% | +27.5% | +36.0% | |
| Q2 2022 | -8.0% | -14.7% | +21.8% | |
| Q1 2022 | -14.6% | -18.8% | -5.2% | |
| Q4 2021 | +25.2% | +26.6% | +69.4% | |
| Q3 2021 | -8.9% | -11.8% | -19.5% | |
| Q2 2021 | +8.7% | +5.8% | +44.8% | |
| Q1 2021 | -13.8% | -3.3% | +54.5% | |
| Q4 2020 | -17.9% | -14.3% | -7.6% | |
| Q3 2020 | -29.0% | -10.3% | +26.5% | |
| Q2 2020 | -14.3% | -10.5% | -14.3% | |
| Q1 2020 | +13.0% | +8.0% | +5.0% | |
| Q4 2019 | +20.8% | +12.1% | -37.2% | |
| Q3 2019 | -26.2% | -36.3% | -39.5% | |
| Q2 2019 | -15.9% | -18.4% | -16.7% | |
| Q1 2019 | -4.1% | +1.5% | -18.2% | |
| Q4 2018 | -13.8% | -17.3% | -14.5% | |
| Q3 2018 | +4.6% | +1.7% | -8.1% | |
| Q2 2018 | -0.5% | +1.1% | -2.9% | |
| Q1 2018 | -3.1% | -3.0% | +9.1% | |
| Q4 2017 | -7.2% | -4.4% | -5.0% | |
| Q3 2017 | +3.0% | +1.9% | +8.9% | |
| Q2 2017 | +7.7% | +0.6% | +3.4% | |
| Q1 2017 | -4.4% | -0.4% | -6.7% | |
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