Exhibit 99.1
peabodylogoa43.jpg
 
 
 
Media Release
 


FOR IMMEDIATE RELEASE
February 5, 2020

PEABODY REPORTS EARNINGS FOR QUARTER AND YEAR ENDED DECEMBER 31, 2019

Fourth quarter reflects 10-percent cost-per-ton improvement in three operating segments; Lowering capital expenditures and suspending dividends in light of industry conditions and portfolio changes; Emphasizing debt reduction to maintain financial strength; Continuing to progress regulatory process for proposed PRB/Colorado JV; Commencing commercial process for North Goonyella Mine in tandem with ongoing mine development plan

ST. LOUIS, Feb. 5 - Peabody (NYSE: BTU) today announced its fourth quarter 2019 operating results, including revenues of $1.12 billion; loss from continuing operations, net of income taxes of $290.2 million; net loss attributable to common stockholders of $289.8 million; diluted loss per share from continuing operations of $3.12; and Adjusted EBITDA1 of $204.9 million.

“During the fourth quarter, Peabody made a number of operational improvements in Australia, reduced costs in four of five operating segments, opportunistically repurchased bonds to reduce debt, generated substantial cash from commercial settlements and progressed the regulatory process for the proposed PRB/Colorado joint venture,” said President and Chief Executive Officer Glenn Kellow. “For 2020, we are targeting improved met coal volumes and costs, lower SG&A and reduced North Goonyella holding costs. Those benefits are expected to partly offset current lower pricing in all segments, lower U.S. thermal volumes, and the loss of some $200 million in contributions from the closing of the Kayenta and Millennium Mines.”

Fourth Quarter and Full Year 2019 Results

Fourth quarter 2019 revenues totaled $1.12 billion compared to $1.40 billion in the prior year, primarily driven by 17 percent lower seaborne metallurgical coal volumes and reduced pricing.

Depreciation, depletion, and amortization (DD&A) declined 31 percent from the prior year to $121.6 million, primarily due to the elimination of Kayenta Mine DD&A in the fourth quarter, roll-off of contract amortization expense and lower volumes.

Following final Commonwealth approval in the fourth quarter of 2019, Peabody completed the formation of the United Wambo joint venture and recognized a $48.1 million gain.







1Adjusted EBITDA, Free Cash Flow and Net Debt are non-GAAP financial measures. Revenues per ton, costs per ton, Adjusted EBITDA margin per ton and percent are non-GAAP operating/statistical measures. Adjusted EBITDA margin is equal to segment Adjusted EBITDA divided by segment revenues. Please refer to the tables and related notes in this press release for a reconciliation of non-GAAP financial measures.
 


The following information was filed by Peabody Energy Corp (BTU) on Wednesday, February 5, 2020 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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