Exhibit 99.1
peabodylogoa15.jpg
 
 
 
Media Release
 


FOR IMMEDIATE RELEASE
Oct. 30, 2018


PEABODY REPORTS EARNINGS FOR QUARTER ENDED SEPTEMBER 30, 2018

Third-quarter performance reflects underlying strength of global platform amid events at North Goonyella Mine; Operating results led by Australian thermal segment; Largest quarter of share repurchases brings current buyback program to $875 million; Buybacks reaffirmed and authorization expanded to $1.5 billion; Shoal Creek acquisition to add 2 million tons or more of seaborne hard coking coal capacity per year


ST. LOUIS, Oct. 30 - Peabody (NYSE: BTU) today announced its third quarter 2018 operating results, including revenues of $1.41 billion, income from continuing operations, net of income taxes of $83.9 million, net income attributable to common stockholders of $71.5 million, diluted earnings per share from continuing operations of $0.63 and Adjusted EBITDA1 of $372.1 million.

"During a quarter that ended with substantial challenges at the North Goonyella Mine, Peabody’s large, diversified platform generated solid results, led by our Australian thermal coal segment," said Peabody President and Chief Executive Officer Glenn Kellow. "While our operational focus is on our current platform, entering the assessment and planning phase of the North Goonyella Mine, and completing the accretive Shoal Creek metallurgical coal mine acquisition in Alabama, our financial approach is unchanged. We are committed to generating cash, maintaining financial strength, investing wisely and returning cash to shareholders - demonstrated by our expanded share buyback program and increased dividend per share."



Third Quarter 2018 Results

Revenues for the third quarter totaled $1.41 billion compared to $1.48 billion in the prior year as higher Australian realized pricing mostly offset the impact of lower Australian and U.S. sales volumes.

Depreciation, depletion and amortization declined 13 percent over the prior year driven by continued contract amortization roll off. During the quarter, Peabody completed the sale of certain resources associated with its Millennium Mine, resulting in a gain of $20.5 million. Income from continuing operations, net of income taxes decreased $149.8 million due to a $49.3 million provision for estimated equipment loss at the North Goonyella Mine (see additional information under Operational and Portfolio Items) and a prior year $84.1 million net tax benefit. Net income attributable to common stockholders declined $129.9 million to $71.5 million.





1 Adjusted EBITDA, revenues per ton, costs per ton, Adjusted EBITDA margin per ton and percent and Free Cash Flow are non-GAAP financial measures. Please refer to the tables and related notes in this press release for a reconciliation of non-GAAP financial measures.

#1

The following information was filed by Peabody Energy Corp (BTU) on Tuesday, October 30, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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