Peabody Energy Stock Price, News & Analysis

Peabody (NYSE: BTU) reported a net loss of $119.5 million, or $0.88 per share, in Q1 2022, up from a $80.1 million loss in Q1 2021. The results included a $301 million hit from coal hedging losses and $23.5 million from early debt extinguishment. Despite challenges, revenue from coal sales surged 58% to $1.039 billion. Adjusted EBITDA reached $327.5 million, a significant rise from $61.1 million a year prior. Peabody aims to enhance production and improve its balance sheet, launching initiatives like R3 Renewables with a target of developing over 3.3 GW of solar capacity by 2027.

On April 28, 2022, Peabody (NYSE: BTU) will report its financial results for the quarter ending March 31, 2022. A conference call is scheduled for 10 a.m. CT on the same day, allowing participants to discuss the results with management. The call can be accessed via various phone numbers for U.S., Canada, Australia, and the UK, or through Peabody's Investor Relations for international participants. Peabody is recognized as a leading coal producer, emphasizing its commitment to sustainability in energy production.

Peabody (NYSE: BTU) announced the expiration of its cash offer to purchase up to $38.607 million in aggregate accreted value of its 8.500% Senior Secured Notes due 2024. The offer, which expired on March 15, 2022, resulted in valid tenders of $117,855 for the 2024 Notes and $30 million for Priority Lien Obligations. Since the total was within the Available Repurchase Amount, Peabody will proceed with purchases, maintaining approximately $62.69 million in accreted value of the 2024 Notes outstanding after the transaction.

Peabody subsidiaries, PIC AU Holdings LLC and PIC AU Holdings Corporation, announced the expiration of their offer to purchase up to $51.179 million of 10.000% Senior Secured Notes due 2024. As of the expiration time on March 14, 2022, only $263,000 of the notes had been tendered. Holders of validly tendered notes will receive $1,000 plus accrued interest per $1,000 principal amount. This repurchase complies with the indenture requirements, and post-purchase, approximately $193.62 million of notes will remain outstanding.

Peabody (NYSE: BTU) announced a $150 million unsecured credit facility with Goldman Sachs to address near-term liquidity linked to economic coal hedge positions. As of March 4, 2022, Peabody held coal derivative contracts for 2.3 million metric tons, primarily from its Wambo mine, securing an average price of $84 per metric ton. The company faced increased margin requirements of $534 million due to rising seaborne thermal coal prices, which surged to $419.50 per ton amid global supply issues exacerbated by geopolitical events. The facility matures on April 1, 2025, with a 10% interest rate.

Peabody (NYSE: BTU) has extended the expiration date for its offer to purchase up to $38.607 million in aggregate accreted value of its 8.500% Senior Secured Notes due 2024. The new expiration time is set for March 15, 2022, allowing validly tendered notes to be withdrawn before that date. To date, $95,323 aggregate principal amount of 2024 Notes and $30 million in Priority Lien Obligations have been tendered. The Offer remains unchanged except for the extension and is intended to comply with the Indenture's requirements.

Peabody has launched R3 Renewables LLC in partnership with Riverstone Credit Partners and Summit Partners Credit Advisors. This joint venture aims to develop over 3.3 GW of solar PV and 1.6 GW of battery storage capacity over the next five years, primarily on land near former coal mining operations in Indiana and Illinois. The collaboration combines expertise in renewable energy project development and capital markets. Industry veteran John Jones has been appointed CEO of R3 Renewables, which is positioned to create substantial renewable energy projects to support environmental goals and economic benefits for local communities.

Peabody (NYSE: BTU) has announced the pricing of a $275 million offering of 3.25% convertible senior notes due in 2028, up from a previously stated $250 million. The offering is set to close on March 1, 2022. The notes will have a conversion rate of 50.3816 shares per $1,000 principal amount, with a conversion price of $19.85 per share, representing a premium over the last price of $14.98. Proceeds, estimated at $265.8 million, will be used to redeem existing secured notes and cover associated fees. The notes are subject to various terms and conditions regarding redemption and conversion.

Peabody (NYSE: BTU) has announced a proposed offering of $250 million in convertible senior notes due 2028. The offering is aimed at qualified institutional buyers under Rule 144A of the Securities Act. There is an option for purchasers to acquire an additional $37.5 million in notes. The notes, which will mature on March 1, 2028, are senior, unsecured obligations and may be converted under specified conditions. Proceeds will be used primarily to redeem $62.618 million of existing senior secured notes due 2024, with remaining funds allocated to other debt redemptions and related expenses.