Peabody Energy Announces Results for First Quarter

Peabody Energy (NYSE:BTU) announced its first quarter 2015 results, reporting revenues of $1.54 billion and Adjusted EBITDA of $165.6 million.

As quoted in the market news,

First quarter revenues totaled $1.54 billion compared with $1.63 billion in the prior year due to lower realized pricing and a shift in U.S. production mix toward the Southern Powder River Basin.  First quarter Adjusted EBITDA of $165.6 million declined 6 percent from the prior year, and includes the impact of $100 million in lower pricing and the timing of Resource Management transactions.

Peabody Energy President and CEO-Elect Glenn Kellow stated:

In the face of market headwinds, Peabody’s first quarter performance demonstrates the underlying strength of our business as ongoing cost improvements largely overcame lower coal prices and the impact of hedging.

Click here for the full Peabody Energy (NYSE:BTU) press release