Peabody Ends 4Q2018 on High Note
Peabody Energy reported revenues over $260 million in the fourth quarter of 2018, raising the company’s profits to more than $1 billion in the space of 18 months.
“Peabody begins the year with a healthy balance sheet, expectations of continued strong operating cash flows and an ongoing commitment to returning cash to shareholders,” said Glen Kellow, Peabody president and chief executive officer, in a report.
Kellow also indicated that 2018 had been a successful year, with Peabody ending the last quarter with “a highly accretive acquisition, robust cash flows, and share buybacks that have now surpassed $1 billion.”
Across the board, Peabody reported a total income of $1.4 billion to end the year.
After a number of operating costs and other expenses were deducted, total revenues for 4Q2018 were reported at $260.6 million, down $104 million from the fourth quarter of 2017, where revenues were reported at $364 million.
The Powder River Basin accounted for around 30 million tons of coal sold at $11.84 per ton, raking in around $340.3 million in 4Q2018.
The levels are slightly down again from 2017 in the Powder River Basin, which sold 31.8 million tons of PRB coal in 4Q18 compared to the 30 million tons sold in 4Q2017.
The year total in 2018 for the PRB was 120.3 million tons for $1.4 billion in revenues, also down from 125 million tons for $1.6 billion in 2017.
The levels are slightly down from 2017, where 31.8 million tons of PRB coal resulted in $392.4 million in the fourth quarter.