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The Wall Street Journal reported that Peabody Energy (NYSE:BTU) recorded bigger losses for its September quarter, year over year, mostly on the back of weak coal prices.
The Wall Street Journal reported that Peabody Energy (NYSE:BTU) recorded bigger losses for its September quarter, year over year, mostly on the back of weak coal prices.
As quoted in the publication:
Though coal sales have shown some signs of a rebound, relatively low natural-gas prices continue to pressure coal demand and pricing. Peabody, the biggest coal producer in the U.S., also faces pressures abroad as prices of metallurgical coal, used for steelmaking, remain weak.
In September, Peabody forecast a steeper per-share loss in the third quarter, but raised its adjusted Ebitda forecast for the second time on cost improvements and strong operating results.