NYSE$BTU
Peabody Energy Corporation · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
Peabody Energy reported second quarter results with increased revenues and improved Adjusted EBITDA.
Peabody Energy's second quarter 2021 results showed revenues of $723.4 million and a net loss of $23.0 million. Adjusted EBITDA was $122.1 million. The company focused on expanding margins through operational improvements, cost controls, and debt reduction.
- Revenues increased to $723.4 million due to higher volumes and improved seaborne thermal pricing.
- Net loss from continuing operations was $23.0 million.
- Adjusted EBITDA totaled $122.1 million, driven by higher seaborne thermal pricing and U.S. thermal volumes.
- The company retired approximately $84 million of debt and reached agreements to retire an additional $50 million.
Headline financials
Revenue & EPS history
Peabody Energy · Revenue · Quarterly
$723M
Revenue by segment
Peabody Energy · $723M total across 5 segments · Q2 2021
- Powder River Basin$249M+20.8%34.4%
- Seaborne Thermal$194M+19.8%26.8%
- Other U.S. Thermal$162M+6.6%22.4%
- Seaborne Metallurgical$121M+32.1%16.7%
- Corporate and Other-$2.4M-115.7%-0.3%
Forward guidance
Peabody anticipates coal deliveries will remain largely dependent on general economic conditions, weather, natural gas prices, utility inventory levels and rail performance.
Tailwinds
- Essentially all projected volumes priced and committed for US Thermal Operations.
- Higher seaborne thermal volumes are expected in the second half as Wilpinjong and the Wambo JV complete development projects and reach projected production run rates.
- The CMJV is anticipated to continue to recognize cost and productivity improvements with full year sales volumes at the high end of guidance.
- Metropolitan is expected to ship approximately 0.8 million tons in the second half of 2021 as the longwall reaches planned production levels.
- The Shoal Creek prep plant upgrade project remains on schedule with completion expected in mid Q3.
Headwinds
- Coal deliveries will remain largely dependent on general economic conditions, weather, natural gas prices, utility inventory levels and rail performance.
- Costs per ton for Seaborne Thermal Operations are expected to be $33.75 due to product mix, higher expected royalties, exchange rates and fuel prices.
- Second half Wilpinjong revenue and costs per ton are anticipated to be higher than first half 2021 as estimated export shipments are anticipated to be a higher proportion of total volumes.
- Negotiations remain ongoing with respect to the expired Shoal Creek labor contract.
- Interest expense is now expected to be approximately $190 million, including $40 million of non-cash expense.
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 Q2 2021
-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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