NEW YORK, July 29, 2015 /PRNewswire/ --
ACI Association has initiated research coverage on Peabody Energy Corporation (NYSE: BTU). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.
Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/?c=BTU
Highlights from our BTU Report include:
- Top-Line View -- On July 28, 2015, Peabody Energy Corporation reported the results for second quarter of 2015. Revenues for the period totaled $1.34 billion compared with $1.76 billion in the prior year quarter as a result of 16% volume decline and lower realized pricing. Sales volume was recorded at 51.9 million tons in the quarter as compared to 61.7 million tons in Q2 2014. U.S. Mining Operations contributed $822.3 million to the total revenue, while the share of Australian Mining Operations in total revenue totaled $505.9 million during the quarter.
- Operational Performance -- Adjusted EBITDA for the quarter declined $126.1 million from the prior period to $87.0 million, reflecting approximately $115 million in lower pricing, a $113.1 million negative hedging impact, nearly $40 million in PRB weather impacts and a $21.2 million restructuring charge. U.S. Mining adjusted EBITDA declined $80.1 million to $211.5 million due to a 6.4 million ton volume decline and an 8% decrease in average price per ton, while Australian Mining adjusted EBITDA increased $50.5 million to $55.8 million in the second quarter, as approximately $160 million in cost improvements offset $90 million in lower pricing.
- A Quick Look at the Bottom-line -- Loss from continuing operations came in at $1.01 billion or $3.71 per diluted share as compared to loss of $72.0 million or $0.28 per diluted share in the prior year quarter. The Company informed that diluted loss per share from continuing operations includes a $3.06 per share impact related to asset impairments. Further, adjusted diluted loss per share for the period was $0.65 versus a loss of $0.28 per diluted share in Q2 2014.
- Full-Year Outlook -- The Company updated its guidance for full-year 2015. As per the new guidance, total sales volume for 2015 is expected to be in the range of 225 - 245 million tons. U.S. costs per ton are targeted to improve 3% to 5% in 2015 as a result of a higher percentage of PRB shipments, lower fuel costs and ongoing cost containment. In contrast, U.S. revenues per ton are targeted to decline 3% to 5% in 2015 as a result of change in mix and roll off of higher sales contracts compared to 2014. Further, Australian costs per ton are targeted to be nearly 20% below 2014 levels due to cost reduction initiatives, sales mix, and lower currency and fuel expenses.
To find out how this influences our rating on Peabody Energy Corporation read the full report in its entirety here: http://www.aciassociation.com/?c=BTU
About ACI Association:
Active Charter Investors Association ("ACI Association") produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. ACI Association has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
ACI Association has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer"). Rohit Tuli, a CFA® charter holder (the "CFA®"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on sound investment judgment and publicly available information which is believed to be reliable. The Reviewer and the CFA® have not performed any independent investigations or forensic audits to validate the information herein. Unless otherwise noted, any content outside of this document has no association with the Author, the Reviewer, or the CFA® (collectively referred to as the "Production Team") in any way. The Production Team is compensated on a fixed monthly basis and do not hold any positions of interest in any of the securities mentioned herein.
ACI Association, the Author, the Reviewer and the CFA® (collectively referred to as the "Publishers") are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by the Publishers whatsoever for any direct, indirect or consequential loss arising from the use of this document. The Publishers expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, the Publishers do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither ACI Association nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.aciassociation.com/.
ACI Association is not available to residents of Belarus, Cuba, Canada, Iran, North Korea, Sudan, Syria or Somalia. Do not send email to robottrap (at) aciassociation.com.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.