Jul 25, 2013 - The Associated PressCoal miner Peabody Energy Corp. said Tuesday its second-quarter earnings slid 56 percent because of lower pricing, but the results still handily beat Wall Street's expectations partly because of the company's continued belt-tightening.
St. Louis-based Peabody, the world's biggest private-sector coal producer with major mining operations in Wyoming, said its net income attributable to common shareholders fell to $90.3 million, or 33 cents per share, for the April-June period. That's down from $204.7 million, or 75 cents per share, a year earlier.
Revenue fell 13 percent to $1.73 billion from $1.98 billion a year ago. Analysts polled by FactSet on average expected an adjusted loss of 5 cents per share on higher revenue of $1.82 billion.
Get your copy of The Ranger online, every day! If you are a current print subscriber and want to also access dailyranger.com online (there is nothing more to purchase) including being able to download The Mining and Energy Edition, click here. Looking to start a new online subscription to dailyranger.com (even if it is for just one day)? Access our secure SSL encrypted server and start your subscription now by clicking here.