Peabody Energy (BTU) Misses Q2 EPS by 2c
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Peabody Energy Announces Results For The Quarter Ended June 30, 2015
July 28, 2015 8:01 AM EDTST. LOUIS, July 28, 2015 /PRNewswire/ -- Peabody Energy (NYSE: BTU) today reported second quarter 2015 revenues of $1.34 billion. Adjusted EBITDA totaled $87.0 million, which includes $21.2 million in restructuring charges related to reductions in corporate and regional staff and Australian Mining Operations. Diluted Loss Per Share from Continuing Operations totaled $(3.71), including a $(3.06) per share impact related to asset impairments.  Adjusted Diluted EPS totaled $(0.65), including a $(0.07) per share impact related to restructuring activities.Â
"Peabody accelerated a number of initiatives in the second quarter to reduce operating costs, create a leaner organization and optimize our portfolio," said... More
Fitch Downgrades Peabody Energy Corp. IDR to 'CCC'
July 27, 2015 4:02 PM EDTNEW YORK--(BUSINESS WIRE)-- Fitch Ratings has downgraded Peabody Energy Corporation's (Peabody, NYSE: BTU) Issuer Default Rating (IDR) to 'CCC' from 'B'. Approximately $8.4 billion in face amount of debt and commitments is affected by today's rating actions.
The downgrade reflects Fitch's view that liquidity could become constrained in the absence of higher metallurgical coal prices. For 2015, Fitch believes EBITDA could be about $400 million and free cash flow burn could reach about $500 million. While Fitch believes the cash burn would slow in 2016 and reverse in 2017 with the roll-off of hedges, halt... More
