Peabody Provides Preliminary Update, Expects To Report Q1 2024 Revenue Of $980M Vs $1.04B Est
Portfolio Pulse from Benzinga Newsdesk
Peabody (NYSE:BTU) expects to report Q1 2024 revenue of $980M, below the $1.04B estimate. The company anticipates income from continuing operations at $45M and Adjusted EBITDA of $160M. Sales volumes were in line for seaborne segments but lower in U.S. thermal segments due to various factors including unfavorable coal mix, lower prices in the metallurgical coal segment, and higher costs at CMJV. The company faced production challenges but expects improvements as operations at CMJV dragline and Wambo longwall resume. Full results will be released on May 2, 2024.
April 11, 2024 | 12:01 pm
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Peabody expects lower Q1 2024 revenue of $980M vs. estimates of $1.04B, with Adjusted EBITDA of $160M amid production challenges.
The expected revenue miss and the detailed production challenges, including lower U.S. thermal shipments and higher costs, are likely to negatively impact investor sentiment in the short term. The company's acknowledgment of these issues and steps towards resolution may provide some reassurance, but the immediate financial impact and the miss on revenue estimates are clear negative signals for the stock's short-term performance.
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