Peabody Energy Earnings Cheat Sheet: Double-Digit Growth, Yet Investors Take Profits

S&P 500 (NYSE:SPY) component Peabody Energy Corporation (NYSE:BTU) reported net income above Wall Street’s expectations for the first quarter. Peabody Energy Corporation mines steam coal for sale mainly to electric utilities and metallurgical coal for sale to industrial customers.

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Peabody Energy Earnings Cheat Sheet for the First Quarter

Results: Net income for the industrial metals and minerals company rose to $176.5 million (65 cents/share) vs. $133.7 million (50 cents/share) YoY. A rise of 32% from the year earlier quarter.

Revenue: Rose 15.1% to $1.74 billion YoY.

Actual vs. Wall St. Expectations: BTU beat the mean analyst estimate of 60 cents/share. Estimates ranged from 46 cents per share to 73 cents per share.

Quoting Management: “Peabody delivered significant increases in revenues, operating profit, EBITDA and net income in the first quarter,” said Peabody Energy Chairman and Chief Executive Officer Gregory H. Boyce. “Peabody is advancing multiple growth initiatives to serve the high-growth Asian markets. During the quarter, we made significant progress on a number of Australian mine expansions, entered into Chinese development agreements, expanded Indonesian supply sources, and announced a major throughput agreement for a proposed Western U.S. export facility.”

Key Stats: The company has now seen net income rise in four-straight quarters. In the fourth quarter of the last fiscal year, net income rose 127.8% while the figure climbed 109.8% in the third quarter of the last fiscal year and 160.4% four quarters ago from the year earlier.

Competitors to Watch: Arch Coal Inc. (NYSE:ACI), BHP Billiton Ltd. (NYSE:BHP), Patriot Coal (NYSE:PCX), Massey (NYSE:MEE), James River Coal (NASDAQ:JRCC), International Coal (NYSE:ICO), Alliance Holdings (NASDAQ:AHGP), Walter Energy (NYSE:WLT), Oxford Resource (NYSE:OXF) and CONSOL Energy Inc. (NYSE:CNX).

Today’s Performance: Shares of BTU are trading at $62.77 per share:

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