Peabody Energy Stock Price, News & Analysis

Peabody (NYSE: BTU) will report its financial results for the quarter ending September 30, 2022, on November 3, 2022, at 10 a.m. CT. A conference call will follow the announcement, with details available on PeabodyEnergy.com. Peabody is a significant coal producer, playing a critical role in providing essential products for affordable energy and steel production. The company emphasizes sustainability as a core aspect of its strategy.

Peabody (NYSE: BTU) clarified recent reports regarding its earnings for the quarter ended September 30, 2022, stating they are false as the company has not yet released its earnings. The official earnings report is expected in the coming weeks. Peabody is a prominent coal producer focused on providing reliable energy and steel production, with a commitment to sustainability shaping its future strategy.

On September 19, 2022, Peabody's subsidiaries, PIC AU Holdings LLC and PIC AU Holdings Corporation, completed a repurchase of approximately $20.4 million of their 10.000% Senior Secured Term Loan due 2024 at a purchase price of 105.91% of par. They also announced an offer to purchase any and all of the $81.55 million outstanding principal of their 10.000% Senior Secured Notes due 2024, under similar terms. The offers aim to satisfy repayment obligations following the term loan repurchase and will expire on October 31, 2022.

On August 29, 2022, Peabody (NYSE: BTU) announced the expiration of its offer to purchase up to $27.204 million in aggregate principal amount of its 10.000% Senior Secured Notes due 2024. Valid tenders amounted to $18.214 million, which will be repurchased at a price of $1,039.10 per $1,000 principal amount, plus accrued interest. This offer was made under the terms of an existing Indenture and reflects a significant debt reduction strategy. Following this transaction, approximately $81.550 million of these Notes will remain outstanding alongside $134.968 million in other senior secured debt.

Peabody (NYSE: BTU) announced an offer to purchase up to $27.204 million of their 10.000% Senior Secured Notes due 2024. The offer price is 103.91% of the principal amount, plus accrued interest, with a deadline of August 29, 2022. If more than the offered amount is tendered, purchases will be made on a pro rata basis. This offer aims to meet the requirements outlined in the Indenture, reflecting Peabody's commitment to financial management and debt repayment strategies. The Notes are part of Peabody's approach to maintaining liquidity and operational stability.

Peabody (NYSE: BTU) reported a strong second quarter for 2022, with a net income of $409.5 million or $2.54 per diluted share, a significant recovery from a net loss of $28.6 million in the same period last year. Revenue surged by over 80% to $1.322 billion, driven by increased coal prices across segments. Adjusted EBITDA reached $577.8 million, marking the highest quarterly performance in over a decade. However, the company warns of reduced production and higher costs in the second half due to severe weather impacts and revised guidance.

Peabody's subsidiaries, PIC AU Holdings LLC and PIC AU Holdings Corporation, announced the expiration of their cash offer to purchase up to $90 million of their 10.000% Senior Secured Notes due 2024. The offer expired on July 21, 2022, with $112,704,000 in Notes tendered. Due to high interest, the Co-Issuers will buy $93,872,000 in Notes at 103.91% of par. Payment for accepted Notes is scheduled for July 25, 2022. Post-transaction, approximately $99,749,000 in Notes will remain outstanding.

Peabody (NYSE: BTU) announced preliminary financial results for Q2 2022, with revenues projected between $1,310 and $1,340 million despite $25 million in unrealized mark-to-market losses. Net income is expected between $400 and $420 million, and Adjusted EBITDA is projected at $570 to $590 million. The significant growth in Adjusted EBITDA is attributed to high realized prices in seaborne coal segments. Peabody also reduced outstanding debt by nearly $90 million in 2022, with further reductions pending.

Peabody (NYSE: BTU) has announced an increase in its offer to purchase up to $90 million of its 10.000% Senior Secured Notes due 2024, up from $50 million. The offer price is set at 103.91% of the principal amount, plus accrued interest. The expiration date has been extended to July 21, 2022. As of June 27, 2022, approximately $85.76 million of notes had been tendered. The decision was likely made to manage debt efficiently while satisfying the requirements of the Indenture.