Home Equities Score Peabody Energy Corporation (BTU) stock slumped in the current trading session; find...

Peabody Energy Corporation (BTU) stock slumped in the current trading session; find out why

In the current market trading session, Peabody Energy Corporation (BTU) stock slumped by -18.07% to $3.42 at the last check. BTU previously closed the session at $4.29. The stock volume traded about 4.09 million shares.

About Peabody Energy Corporation

Peabody Energy Corporation is a coal mining company. The company engages with its business domestically in the USA as well as in the international regions specifically including, Taiwan, Vietnam, South Korea, China, India, Australia, and Japan. The company operates through three main thermal mining segments which include the Seaborne Thermal Mining, Mining in the Powder River Basin, and Seaborne Metallurgical Mining along with other US-based mining segments.

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Apart from the thermal mining segment, BTU stock is involved in the sale, preparation, and mining of thermal coal services for the energy sectors specifically for the electric utilities. The company’s main clients to who it supplies its services are the energy industry, power-producing industry, industrial facilities, and steel manufacturers.

The company has diversified its operations by involving in the direct and brokered trading of coal contracts. Furthermore, it also provides distributions and coal-supplying services which include freight contracts.

Recent activities in the company

Recently, Peabody Energy Corporation has made 2 announcements relating to the financial result of the first quarter of 2021 and the holding host Earnings call for the same quarter.

Peabody Energy Corporation’s Host Earnings call is discussed on 29th April 2021. The replay of the live event can be heard here.

On 29th April 2021, Peabody Energy Corporation announced that it has released the financial report for the first quarter of 2021, which included the $651.3 million revenue which was reduced compared to the prior year due to low sales and volumes. The company also faced loss from continuing operations however CEO stated that operational productivity had improved.

Segment-wise, the Peabody Energy Corporation’s seaborne thermal segment exported 2.3 million tons at a $58 per ton average price. Under the long-term contracts, the remaining 1.8 million tons were sold domestically. The seaborne met segment realized the shipping of 1.0 million tons of coal at $87 per ton average realized price.

The Powder River Basin segment of BTU stock had shipped 20.7 million tons at an average realized price of $11.01 per ton while the other U.S thermal segment shipped 3.9 million tons for a $39 per ton average realized price.

Financial highlights of the BTU stock

Here are the first quarter 2021 financial results;

  • Revenues for the first quarter were $651.3 million compared to the previous year’s $846.2 million.
  • General and administrative expenses of BTU stock including selling, totaled to $21.7 million (13% less compared to the prior year)
  • DD&A was $68.3 million which was a 36% decline compared to the prior year
  • Running operations’ loss totaled at $77.7 million which reduced compared to the prior year $129.3 million.

Outlook for Peabody Energy Corporation based on the current market evaluation

The corporate outlook for the company has been given. The SG&A expense guidance has been adjusted down from $90 million to $85 million. $225 million is the expected capital expenditure. The interest expense for 2021 is expected to be $200 million. The BTU stock also expects cash impacts 2021; related to final reclamation activities to be $60 million; post-retirement benefits in excess of expense are estimated to be $30 million; MEPP payment is expected to be $15 million.

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