Peabody Reports Results for the Quarter Ended June 30, 2026
Rhea-AI Summary
Peabody (NYSE: BTU) reported second-quarter 2026 net loss attributable to common stockholders of $(90.6) million, or $(0.74) per diluted share, versus $(27.6) million, or $(0.23) a year earlier. Revenue rose to $1,003.2 million, but Adjusted EBITDA declined to $24.0 million from $93.3 million.
Seaborne Thermal generated Adjusted EBITDA of $52.1 million with revenue per ton of $74.85 and costs of $57.93, while Seaborne Metallurgical posted Adjusted EBITDA of $(17.0) million due to higher Centurion commissioning costs. Powder River Basin and Other U.S. Thermal delivered Adjusted EBITDA of $(7.1) million and $26.9 million, respectively.
Peabody highlighted commissioning progress at Centurion and now targets 2.0–2.5 million tons of 2026 sales. The company issued $250 million of 0.5% 2031 convertible notes, repurchased $241.2 million of 2028 convertible notes (effectively 5.0 million shares), reduced surety-related restricted cash and collateral by about $350 million, expanded its revolver to $400 million, ended the quarter with $526.3 million cash and $959.1 million liquidity, and declared a $0.075 quarterly dividend per share.
Positive
- Revenue $1,003.2M in Q2 2026, up from $890.1M in Q2 2025
- Seaborne Thermal Adjusted EBITDA $52.1M with revenue per ton up to $74.85
- Company liquidity of $959.1M, including $526.3M cash at June 30, 2026
- Refinanced capital structure: issued $250M 0.5% 2031 converts; repurchased $241.2M 2028 converts
- Surety changes cut restricted cash and collateral by about $350M (43%)
- Declared quarterly dividend of $0.075 per share, payable September 3, 2026
Negative
- Net loss attributable to common stockholders widened to $(90.6)M from $(27.6)M year over year
- Q2 2026 Adjusted EBITDA fell to $24.0M from $93.3M in Q2 2025
- Seaborne Metallurgical Adjusted EBITDA of $(17.0)M, with costs per ton above revenue per ton
- Powder River Basin segment reported Q2 Adjusted EBITDA of $(7.1)M
- Full-year 2026 guidance raises Seaborne Metallurgical costs by about $10 per ton and increases PRB costs by $0.25 per ton
News Explained
Beyond the reported financing and operating actions, Peabody updated 2026 guidance: Seaborne Thermal volume rises by 200,000 tons to 12.7 million, while Seaborne Metallurgical and Powder River Basin costs rise by approximately
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jul 15 | Earnings scheduling | Neutral | -2.0% | Announced July 29 earnings release date and management conference call |
| Jul 07 | Government grant | Positive | -0.0% | Received Department of Energy funding for rare earth and critical minerals development |
| Jun 30 | Leadership appointment | Neutral | -4.0% | Named Bryan Quinn President of Global Operations effective August 1 |
| Jun 15 | Surety arrangements | Positive | -5.0% | Announced new U.S. and Australian surety arrangements for reclamation obligations |
| May 28 | Convertible offering | Negative | -7.0% | Priced convertible senior notes and planned repurchase of 2028 convertible notes |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
The five recent news events all recorded negative 24-hour reactions, including -7.04% for the prior convertible-notes offering and -5% for the surety announcement.
Key Terms
adjusted ebitda financial
convertible notes financial
capped call financial
longwall technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Centurion Mine Advancing Toward Targeted Production Rates
Seaborne Thermal Results Benefit from Higher Pricing
Multiple Strategic Financial Actions Further Strengthen Capital Structure
"While second quarter results reflected temporarily lower volumes and higher costs, we are already seeing those impacts mitigate across our operations. We expect improved results in the second half of the year as performance at our flagship Centurion Mine achieves targeted production rates," said Peabody President and Chief Executive Officer Jim Grech. "We're targeting strong cash generation for the second half of 2026, fueled by our seaborne metallurgical and thermal segments."
Highlights
- Completed significant longwall commissioning activities at Centurion and are targeting 1.5 to 2.0 million tons of sales in the second half of 2026, while costs and margins progress toward targeted run-rate levels.
- Issued
$250 million 0.5% 2031 convertible notes, purchased a capped call with a cap price of$50.61 $241.2 million 3.25% 2028 convertible notes (with a conversion price of$18.99 $386.8 million - Revised
U.S . andAustralia surety arrangements reducing reclamation cash collateral requirements by approximately$350 million - Increased revolving credit facility capacity to
$400 million - Awarded a grant from the
U.S . Department of Energy to advance rare earth elements (REE) and critical minerals (CM) development opportunities in the Powder River Basin. Coupled with the Wyoming Energy Authority grant awarded earlier this year, the company continued to progress promising REE/CM opportunities. - Declared a quarterly dividend of
$0.075
Second Quarter Segment Performance
Seaborne Thermal | |||||||||
Quarter Ended | Six Months Ended | ||||||||
Jun. | Mar. | Jun. | Jun. | Jun. | |||||
2026 | 2026 | 2025 | 2026 | 2025 | |||||
Tons sold (in millions) | 3.0 | 3.0 | 3.6 | 6.0 | 8.0 | ||||
Export | 1.9 | 1.9 | 2.1 | 3.8 | 5.0 | ||||
Domestic | 1.1 | 1.1 | 1.5 | 2.2 | 3.0 | ||||
Revenue per Ton | $ 74.85 | $ 66.61 | $ 53.22 | $ 70.81 | $ 57.25 | ||||
Export - Avg. Realized Price per Ton | 95.87 | 86.25 | 72.86 | 91.20 | 76.56 | ||||
Domestic - Avg. Realized Price per Ton | 36.69 | 32.62 | 24.19 | 34.66 | 24.57 | ||||
Costs per Ton | 57.93 | 50.26 | 44.10 | 54.17 | 42.61 | ||||
Adjusted EBITDA Margin per Ton | $ 16.92 | $ 16.35 | $ 9.12 | $ 16.64 | $ 14.64 | ||||
Adjusted EBITDA (in millions) | $ 52.1 | $ 48.5 | $ 33.5 | $ 100.6 | $ 117.7 | ||||
Seaborne Thermal delivered Adjusted EBITDA of
Seaborne Metallurgical | |||||||||
Quarter Ended | Six Months Ended | ||||||||
Jun. | Mar. | Jun. | Jun. | Jun. | |||||
2026 | 2026 | 2025 | 2026 | 2025 | |||||
Tons sold (in millions) | 2.5 | 2.0 | 2.2 | 4.5 | 4.0 | ||||
Revenue per Ton | $ 148.04 | $ 138.28 | $ 114.79 | $ 143.57 | $ 119.40 | ||||
Costs per Ton | 155.08 | 141.72 | 118.97 | 148.96 | 118.39 | ||||
Adjusted EBITDA Margin per Ton | $ (7.04) | $ (3.44) | $ (4.18) | $ (5.39) | $ 1.01 | ||||
Adjusted EBITDA (in millions) | $ (17.0) | $ (7.0) | $ (9.2) | $ (24.0) | $ 4.0 | ||||
Seaborne Metallurgical delivered Adjusted EBITDA of
Powder River Basin | |||||||||
Quarter Ended | Six Months Ended | ||||||||
Jun. | Mar. | Jun. | Jun. | Jun. | |||||
2026 | 2026 | 2025 | 2026 | 2025 | |||||
Tons sold (in millions) | 16.4 | 21.2 | 20.0 | 37.6 | 39.6 | ||||
Revenue per Ton | $ 13.63 | $ 13.65 | $ 13.82 | $ 13.64 | $ 13.92 | ||||
Costs per Ton | 14.06 | 12.53 | 11.66 | 13.20 | 11.92 | ||||
Adjusted EBITDA Margin per Ton | $ (0.43) | $ 1.12 | $ 2.16 | $ 0.44 | $ 2.00 | ||||
Adjusted EBITDA (in millions) | $ (7.1) | $ 23.7 | $ 43.0 | $ 16.6 | $ 79.3 | ||||
Powder River Basin delivered Adjusted EBITDA of
Other | |||||||||
Quarter Ended | Six Months Ended | ||||||||
Jun. | Mar. | Jun. | Jun. | Jun. | |||||
2026 | 2026 | 2025 | 2026 | 2025 | |||||
Tons sold (in millions) | 3.0 | 3.3 | 2.9 | 6.3 | 6.0 | ||||
Revenue per Ton | $ 55.26 | $ 55.79 | $ 54.08 | $ 55.54 | $ 54.20 | ||||
Costs per Ton | 46.13 | 44.37 | 49.39 | 45.20 | 46.43 | ||||
Adjusted EBITDA Margin per Ton | $ 9.13 | $ 11.42 | $ 4.69 | $ 10.34 | $ 7.77 | ||||
Adjusted EBITDA (in millions) | $ 26.9 | $ 37.8 | $ 13.5 | $ 64.7 | $ 46.4 | ||||
Other
Centurion Update
Centurion made meaningful commissioning progress during the quarter. The operating team has implemented effective processes to address face conditions while maintaining production momentum and is working through remaining roof control issues, which are due to a limited rock fault zone. With operational constraints significantly reduced, Peabody's focus is on achieving targeted production rates.
The company is now targeting annual Centurion sales of 2.0 to 2.5 million tons, including 0.5 to 0.7 million tons in the third quarter. Costs are expected to trend more in line with expectations as production volumes increase.
Financial Update
At June 30, 2026, the company had
"Peabody enhanced its capital structure through a series of strategic financial transactions, including an opportunistic refinancing of convertible notes, revised surety arrangements that reduced restricted cash and collateral by approximately
During the quarter, the company issued
Third Quarter 2026 Outlook
Seaborne Thermal
- Volume is expected to be 3.0 million tons, including 1.9 million export tons. 1.1 million tons of Newcastle product and 0.8 million tons of high ash product are unpriced. Costs are anticipated to be
$52 —$57 per ton.
Seaborne Metallurgical
- Seaborne met volume is expected to be 1.9—2.1 million tons, a decrease from second quarter due to a longwall move at Metropolitan and an expected lock outage impacting sales at Shoal Creek. Sales are anticipated to achieve approximately 70-75 percent of the premium hard coking coal price index. Costs are anticipated to be
$130 —$140 per ton.
- PRB volume is expected to be 22 million tons at an average price of
$13.60 $11 $12.25 per ton. - Other
U.S . Thermal volume is expected to be 3.7 million tons at an average price of$58.20 $45 —$49 per ton.
2026 Guidance Targets
For the full year outlook, the company is updating guidance. Seaborne thermal expects a volume increase of 200 thousand tons to 12.7 million tons. Seaborne met costs are expected to increase by approximately
Today's earnings call is scheduled for 10 a.m. CT and can be accessed via the company's website at PeabodyEnergy.com.
Peabody (NYSE: BTU) is a leading coal producer, providing essential products for the production of affordable, reliable energy and steel. Our commitment to sustainability underpins everything we do and shapes our strategy for the future. For further information, visit PeabodyEnergy.com.
Contact:
Kala Finklang
Email: ir@peabodyenergy.com
1 Adjusted EBITDA is a non-GAAP financial measure. Adjusted EBITDA margin is equal to segment Adjusted EBITDA divided by segment revenue. Revenue per Ton and Adjusted EBITDA Margin per Ton are equal to revenue by segment and Adjusted EBITDA by segment, respectively, divided by segment tons sold. Costs per Ton is equal to Revenue per Ton less Adjusted EBITDA Margin per Ton. Management believes Costs per Ton and Adjusted EBITDA Margin per Ton best reflect controllable costs and operating results at the reportable segment level. We consider all measures reported on a per ton basis, as well as Adjusted EBITDA margin, to be operating/statistical measures. Please refer to the tables and related notes herein for a reconciliation and definition of non-GAAP financial measures. | |||
Guidance Targets | |||||
Segment Performance | |||||
2026 Full Year | |||||
Total Volume short tons) | Priced Volume | Priced Volume | Average Cost per | ||
Seaborne Thermal | 12.4 - 13.0 | 8.3 | |||
Seaborne Thermal (Export) | 7.9 - 8.5 | 3.8 | N/A | ||
Seaborne Thermal (Domestic) | 4.5 | 4.5 | N/A | ||
Seaborne Metallurgical | 8.8 - 10.3 | 4.5 | |||
PRB | 82.0 - 88.0 | 80.8 | |||
Other | 13.2 - 14.2 | 13.6 | |||
Other Annual Financial Metrics ($ in millions) | |||||
2026 Full Year | |||||
SG&A | |||||
Total Capital Expenditures | |||||
ARO Cash Spend | |||||
Supplemental Information | |||||
Seaborne Thermal | ~ | ||||
Seaborne Metallurgical | On average, Peabody's metallurgical sales are anticipated to price at 70 | ||||
PRB and Other | PRB and Other | ||||
Certain forward-looking measures and metrics presented are non-GAAP financial and operating/statistical measures. Due to the volatility and variability of certain items needed to reconcile these measures to their nearest GAAP measure, no reconciliation can be provided without unreasonable cost or effort.
Condensed Consolidated Statements of Operations (Unaudited) | ||||||||||
For the Quarters Ended Jun. 30, 2026, Mar. 31, 2026 and Jun. 30, 2025 and the Six | ||||||||||
(In Millions, Except Per Share Data) | ||||||||||
Quarter Ended | Six Months Ended | |||||||||
Jun. | Mar. | Jun. | Jun. | Jun. | ||||||
2026 | 2026 | 2025 | 2026 | 2025 | ||||||
Revenue | $ 1,003.2 | $ 973.3 | $ 890.1 | $ 1,976.5 | $ 1,827.1 | |||||
Operating Costs and Expenses (1) | 953.9 | 864.7 | 789.4 | 1,818.6 | 1,559.6 | |||||
Depreciation, Depletion and Amortization | 107.5 | 109.5 | 93.4 | 217.0 | 185.5 | |||||
Asset Retirement Obligation Expenses | 13.8 | 13.6 | 13.8 | 27.4 | 27.4 | |||||
Selling and Administrative Expenses | 23.3 | 31.6 | 23.5 | 54.9 | 47.1 | |||||
Restructuring Charges | 2.3 | 1.1 | 3.5 | 3.4 | 5.2 | |||||
Costs Related to Terminated Acquisition | 2.3 | 3.0 | 18.8 | 5.3 | 21.2 | |||||
Net Gain on Disposals | (4.4) | (11.7) | (14.8) | (16.1) | (20.0) | |||||
Loss from Equity Affiliates | 9.9 | 5.7 | 0.9 | 15.6 | 7.6 | |||||
Operating Loss | (105.4) | (44.2) | (38.4) | (149.6) | (6.5) | |||||
Interest Expense, Net of Capitalized Interest | 12.7 | 10.7 | 11.1 | 23.4 | 22.6 | |||||
Induced Conversion Expense | 17.2 | — | — | 17.2 | — | |||||
Interest Income | (12.1) | (13.1) | (13.8) | (25.2) | (29.2) | |||||
Net Periodic Benefit Credit, Excluding Service Cost | (0.3) | (0.4) | (7.4) | (0.7) | (14.8) | |||||
(Loss) Income from Continuing Operations Before Income Taxes | (122.9) | (41.4) | (28.3) | (164.3) | 14.9 | |||||
Income Tax (Benefit) Provision | (37.0) | (16.0) | (2.7) | (53.0) | 2.2 | |||||
(Loss) Income from Continuing Operations, Net of Income Taxes | (85.9) | (25.4) | (25.6) | (111.3) | 12.7 | |||||
Loss from Discontinued Operations, Net of Income Taxes | (0.3) | (0.2) | (0.4) | (0.5) | (0.7) | |||||
Net (Loss) Income | (86.2) | (25.6) | (26.0) | (111.8) | 12.0 | |||||
Less: Net Income Attributable to Noncontrolling Interests | 4.4 | 6.8 | 1.6 | 11.2 | 5.2 | |||||
Net (Loss) Income Attributable to Common Stockholders | $ (90.6) | $ (32.4) | $ (27.6) | $ (123.0) | $ 6.8 | |||||
Adjusted EBITDA (2) | $ 24.0 | $ 82.5 | $ 93.3 | $ 106.5 | $ 237.3 | |||||
Diluted EPS - (Loss) Income from Continuing Operations (3)(4) | $ (0.74) | $ (0.26) | $ (0.22) | $ (1.00) | $ 0.06 | |||||
Diluted EPS - Net (Loss) Income Attributable to Common | $ (0.74) | $ (0.27) | $ (0.23) | $ (1.01) | $ 0.06 | |||||
(1) | Excludes items shown separately. | |||||||||
(2) | Adjusted EBITDA is a non-GAAP financial measure. Refer to the "Reconciliation of Non-GAAP Financial Measures" section in this document for definitions and reconciliations to the most comparable measures under | |||||||||
(3) | Weighted average diluted shares outstanding were 122.0 million, 122.0 million and 121.7 million during the quarters ended June 30, 2026, March 31, 2026 and June 30, 2025, respectively. Weighted average diluted shares outstanding were 122.0 million and 122.3 million during the six months ended June 30, 2026 and 2025, respectively. | |||||||||
(4) | Reflects (loss) income from continuing operations, net of income taxes less net income attributable to noncontrolling interests. | |||||||||
This information is intended to be reviewed in conjunction with the company's filings with the SEC. | ||||||||||
Condensed Consolidated Balance Sheets | ||||
As of Jun. 30, 2026 and Dec. 31, 2025 | ||||
(Dollars In Millions) | ||||
(Unaudited) | ||||
Jun. 30, 2026 | Dec. 31, 2025 | |||
Cash and Cash Equivalents | $ 526.3 | $ 575.3 | ||
Accounts Receivable, Net | 328.8 | 314.9 | ||
Inventories, Net | 440.3 | 383.2 | ||
Other Current Assets | 324.2 | 285.4 | ||
Total Current Assets | 1,619.6 | 1,558.8 | ||
Property, Plant, Equipment and Mine Development, Net | 3,081.9 | 3,153.3 | ||
Operating Lease Right-of-Use Assets | 119.5 | 121.2 | ||
Restricted Cash and Collateral | 459.8 | 844.1 | ||
Investments and Other Assets | 124.9 | 127.6 | ||
Deferred Income Taxes | 43.4 | 2.2 | ||
Total Assets | $ 5,449.1 | $ 5,807.2 | ||
Current Portion of Long-Term Debt | $ 13.5 | $ 15.2 | ||
Accounts Payable and Accrued Expenses | 792.7 | 827.0 | ||
Total Current Liabilities | 806.2 | 842.2 | ||
Long-Term Debt, Less Current Portion | 325.5 | 321.2 | ||
Deferred Income Taxes | — | 26.3 | ||
Asset Retirement Obligations, Less Current Portion | 692.4 | 692.8 | ||
Accrued Postretirement Benefit Costs | 108.0 | 109.2 | ||
Operating Lease Liabilities, Less Current Portion | 85.9 | 87.5 | ||
Other Noncurrent Liabilities | 133.2 | 145.8 | ||
Total Liabilities | 2,151.2 | 2,225.0 | ||
Common Stock | 1.9 | 1.9 | ||
Additional Paid-in Capital | 3,865.8 | 4,004.8 | ||
Treasury Stock | (1,930.6) | (1,927.3) | ||
Retained Earnings | 1,214.4 | 1,355.9 | ||
Accumulated Other Comprehensive Income | 97.1 | 101.1 | ||
Peabody Energy Corporation Stockholders' Equity | 3,248.6 | 3,536.4 | ||
Noncontrolling Interests | 49.3 | 45.8 | ||
Total Stockholders' Equity | 3,297.9 | 3,582.2 | ||
Total Liabilities and Stockholders' Equity | $ 5,449.1 | $ 5,807.2 | ||
This information is intended to be reviewed in conjunction with the company's filings with the SEC. | ||||
Condensed Consolidated Statements of Cash Flows (Unaudited) | |||||||||
For the Quarters Ended Jun. 30, 2026, Mar. 31, 2026 and Jun. 30, 2025 and the Six | |||||||||
(Dollars In Millions) | |||||||||
Quarter Ended | Six Months Ended | ||||||||
Jun. | Mar. | Jun. | Jun. | Jun. | |||||
2026 | 2026 | 2025 | 2026 | 2025 | |||||
Cash Flows From Operating Activities | |||||||||
Net Cash (Used In) Provided By Continuing Operations | $ (0.7) | $ 30.6 | $ 23.8 | $ 29.9 | $ 144.3 | ||||
Net Cash Used in Discontinued Operations | (0.7) | (0.6) | (0.6) | (1.3) | (1.2) | ||||
Net Cash (Used In) Provided By Operating Activities | (1.4) | 30.0 | 23.2 | 28.6 | 143.1 | ||||
Cash Flows From Investing Activities | |||||||||
Additions to Property, Plant, Equipment and Mine Development | (58.4) | (85.4) | (94.2) | (143.8) | (164.6) | ||||
Changes in Accrued Expenses Related to Capital Expenditures | (1.5) | (37.1) | (3.4) | (38.6) | (42.0) | ||||
Proceeds from Disposal of Assets, Net of Receivables | — | 5.4 | 5.3 | 5.4 | 12.5 | ||||
Contributions to Joint Ventures | (172.1) | (165.6) | (153.0) | (337.7) | (291.3) | ||||
Distributions from Joint Ventures | 173.5 | 160.2 | 155.9 | 333.7 | 306.7 | ||||
Other, Net | (2.1) | (1.0) | (1.7) | (3.1) | (2.0) | ||||
Net Cash Used In Investing Activities | (60.6) | (123.5) | (91.1) | (184.1) | (180.7) | ||||
Cash Flows From Financing Activities | |||||||||
Proceeds from Long-Term Debt | 360.0 | — | — | 360.0 | — | ||||
Repayments of Long-Term Debt | (499.3) | (2.4) | (4.8) | (501.7) | (7.6) | ||||
Payment of Debt Issuance and Other Deferred Financing Costs | (14.3) | — | (0.1) | (14.3) | (1.8) | ||||
Purchase of Capped Calls | (16.7) | — | — | (16.7) | — | ||||
Excise Taxes Paid Related to Common Stock Repurchases | — | — | (1.7) | — | (1.7) | ||||
Repurchase of Employee Common Stock Relinquished for Tax | — | (3.3) | — | (3.3) | (0.8) | ||||
Dividends Paid | (9.1) | (9.2) | (9.2) | (18.3) | (18.3) | ||||
Distributions to Noncontrolling Interests | — | (7.7) | — | (7.7) | (14.7) | ||||
Net Cash Used In Financing Activities | (179.4) | (22.6) | (15.8) | (202.0) | (44.9) | ||||
Net Change in Cash, Cash Equivalents and Restricted Cash | (241.4) | (116.1) | (83.7) | (357.5) | (82.5) | ||||
Cash, Cash Equivalents and Restricted Cash at Beginning of | 1,168.4 | 1,284.5 | 1,383.8 | 1,284.5 | 1,382.6 | ||||
Cash, Cash Equivalents and Restricted Cash at End of | $ 927.0 | $ 1,168.4 | $ 1,300.1 | $ 927.0 | $ 1,300.1 | ||||
This information is intended to be reviewed in conjunction with the company's filings with the SEC. | |||||||||
Reconciliation of Non-GAAP Financial Measures (Unaudited) | ||||||||||
For the Quarters Ended Jun. 30, 2026, Mar. 31, 2026 and Jun. 30, 2025 and the Six | ||||||||||
(Dollars In Millions) | ||||||||||
Note: Management believes that non-GAAP financial measures are used by investors to measure our operating performance. These measures | ||||||||||
Quarter Ended | Six Months Ended | |||||||||
Jun. | Mar. | Jun. | Jun. | Jun. | ||||||
2026 | 2026 | 2025 | 2026 | 2025 | ||||||
(Loss) Income from Continuing Operations, Net of Income Taxes | $ (85.9) | $ (25.4) | $ (25.6) | $ (111.3) | $ 12.7 | |||||
Depreciation, Depletion and Amortization | 107.5 | 109.5 | 93.4 | 217.0 | 185.5 | |||||
Asset Retirement Obligation Expenses | 13.8 | 13.6 | 13.8 | 27.4 | 27.4 | |||||
Restructuring Charges | 2.3 | 1.1 | 3.5 | 3.4 | 5.2 | |||||
Costs Related to Terminated Acquisition | 2.3 | 3.0 | 18.8 | 5.3 | 21.2 | |||||
Changes in Amortization of Basis Difference Related to Equity | (0.7) | (0.6) | (0.8) | (1.3) | (1.4) | |||||
Interest Expense, Net of Capitalized Interest | 12.7 | 10.7 | 11.1 | 23.4 | 22.6 | |||||
Induced Conversion Expense | 17.2 | — | — | 17.2 | — | |||||
Interest Income | (12.1) | (13.1) | (13.8) | (25.2) | (29.2) | |||||
Unrealized Losses (Gains) on Foreign Currency Option | 3.9 | (0.3) | (4.1) | 3.6 | (8.4) | |||||
Take-or-Pay Contract-Based Intangible Recognition | — | — | (0.3) | — | (0.5) | |||||
Income Tax (Benefit) Provision | (37.0) | (16.0) | (2.7) | (53.0) | 2.2 | |||||
Adjusted EBITDA (1) | $ 24.0 | $ 82.5 | $ 93.3 | $ 106.5 | $ 237.3 | |||||
Operating Costs and Expenses | $ 953.9 | $ 864.7 | $ 789.4 | $ 1,818.6 | $ 1,559.6 | |||||
Unrealized (Losses) Gains on Foreign Currency Option | (3.9) | 0.3 | 4.1 | (3.6) | 8.4 | |||||
Take-or-Pay Contract-Based Intangible Recognition | — | — | 0.3 | — | 0.5 | |||||
Net Periodic Benefit Credit, Excluding Service Cost | (0.3) | (0.4) | (7.4) | (0.7) | (14.8) | |||||
Total Segment Costs (2) | $ 949.7 | $ 864.6 | $ 786.4 | $ 1,814.3 | $ 1,553.7 | |||||
(1) | Adjusted EBITDA is defined as (loss) income from continuing operations before deducting net interest expense, income taxes, asset retirement obligation expenses and depreciation, depletion and amortization. Adjusted EBITDA is also adjusted for the discrete items that management excluded in analyzing the reportable segments' operating performance, as displayed in the reconciliation above. Adjusted EBITDA is used by the chief operating decision maker as the primary financial metric to measure each segment's operating performance against expected results and to allocate resources, including capital investment in mining operations and potential expansions. | |||||||||
(2) | Total Segment Costs is defined as operating costs and expenses adjusted for the discrete items that management excluded in analyzing each reportable segment's operating performance, as displayed in the reconciliation above. Total Segment Costs is used by management as a component of a metric to measure each segment's operating performance. | |||||||||
This information is intended to be reviewed in conjunction with the company's filings with the SEC. | ||||||||||
Supplemental Financial Data (Unaudited) | ||||||||||
For the Quarters Ended Jun. 30, 2026, Mar. 31, 2026 and Jun. 30, 2025 and the Six | ||||||||||
Quarter Ended | Six Months Ended | |||||||||
Jun. | Mar. | Jun. | Jun. | Jun. | ||||||
2026 | 2026 | 2025 | 2026 | 2025 | ||||||
Tons Sold (In Millions) | 24.9 | 29.6 | 28.7 | 54.5 | 57.6 | |||||
Revenue Summary (In Millions) | ||||||||||
Seaborne Thermal | $ 230.6 | $ 197.5 | $ 195.1 | $ 428.1 | $ 460.2 | |||||
Seaborne Metallurgical | 358.3 | 283.0 | 252.2 | 641.3 | 472.3 | |||||
Powder River Basin | 223.8 | 289.5 | 275.7 | 513.3 | 551.3 | |||||
Other | 163.2 | 184.5 | 155.1 | 347.7 | 323.8 | |||||
Total | 387.0 | 474.0 | 430.8 | 861.0 | 875.1 | |||||
Corporate and Other | 27.3 | 18.8 | 12.0 | 46.1 | 19.5 | |||||
Total | $ 1,003.2 | $ 973.3 | $ 890.1 | $ 1,976.5 | $ 1,827.1 | |||||
Total Segment Costs Summary (In Millions) (1) | ||||||||||
Seaborne Thermal | $ 178.5 | $ 149.0 | $ 161.6 | $ 327.5 | $ 342.5 | |||||
Seaborne Metallurgical | 375.3 | 290.0 | 261.4 | 665.3 | 468.3 | |||||
Powder River Basin | 230.9 | 265.8 | 232.7 | 496.7 | 472.0 | |||||
Other | 136.3 | 146.7 | 141.6 | 283.0 | 277.4 | |||||
Total | 367.2 | 412.5 | 374.3 | 779.7 | 749.4 | |||||
Corporate and Other | 28.7 | 13.1 | (10.9) | 41.8 | (6.5) | |||||
Total | $ 949.7 | $ 864.6 | $ 786.4 | $ 1,814.3 | $ 1,553.7 | |||||
Other Supplemental Financial Data (In Millions) | ||||||||||
Adjusted EBITDA - Seaborne Thermal | $ 52.1 | $ 48.5 | $ 33.5 | $ 100.6 | $ 117.7 | |||||
Adjusted EBITDA - Seaborne Metallurgical | (17.0) | (7.0) | (9.2) | (24.0) | 4.0 | |||||
Adjusted EBITDA - Powder River Basin | (7.1) | 23.7 | 43.0 | 16.6 | 79.3 | |||||
Adjusted EBITDA - Other | 26.9 | 37.8 | 13.5 | 64.7 | 46.4 | |||||
Adjusted EBITDA - Total | 19.8 | 61.5 | 56.5 | 81.3 | 125.7 | |||||
Middlemount | (10.1) | (5.0) | (1.3) | (15.1) | (8.2) | |||||
Resource Management Results (2) | 8.3 | 14.0 | 17.3 | 22.3 | 22.8 | |||||
Selling and Administrative Expenses | (23.3) | (31.6) | (23.5) | (54.9) | (47.1) | |||||
Other Operating Costs, Net (3) | (5.8) | 2.1 | 20.0 | (3.7) | 22.4 | |||||
Adjusted EBITDA (1) | $ 24.0 | $ 82.5 | $ 93.3 | $ 106.5 | $ 237.3 | |||||
(1) | Total Segment Costs and Adjusted EBITDA are non-GAAP financial measures. Refer to the "Reconciliation of Non-GAAP Financial Measures" section in this document for definitions and reconciliations to the most comparable measures under | |||||||||
(2) | Includes gains (losses) on certain surplus coal reserve, coal resource and surface land sales and property management costs and revenue. | |||||||||
(3) | Includes trading and brokerage activities, costs associated with post-mining activities, gains (losses) on certain asset disposals, minimum charges on certain transportation-related contracts, results from the Company's other equity method investments, costs associated with suspended operations, holding costs associated with the Centurion Mine, the impact of foreign currency remeasurement and expenses related to the Company's other commercial activities. | |||||||||
This information is intended to be reviewed in conjunction with the company's filings with the SEC. | ||||||||||
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the securities laws. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words or variation of words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "projects," "forecasts," "targets," "would," "will," "should," "goal," "could" or "may" or other similar expressions. Forward-looking statements provide management's or the Board's current expectations or predictions of future conditions, events, or results. All statements that address operating performance, events, or developments that may occur in the future are forward-looking statements, including statements regarding the shareholder return framework, execution of the Company's operating plans, market conditions for the Company's products, reclamation obligations, financial outlook, potential acquisitions and strategic investments, and liquidity requirements. All forward-looking statements speak only as of the date they are made and reflect Peabody's good faith beliefs, assumptions, and expectations, but they are not guarantees of future performance or events. Furthermore, Peabody disclaims any obligation to publicly update or revise any forward-looking statement, except as required by law. By their nature, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Factors that might cause such differences include, but are not limited to, a variety of economic, competitive, and regulatory factors, many of which are beyond Peabody's control, that are described in Peabody's periodic reports filed with the SEC including its Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2025, and other factors that Peabody may describe from time to time in other filings with the SEC. You may get such filings for free at Peabody's website at www.peabodyenergy.com. You should understand that it is not possible to predict or identify all such factors and, consequently, you should not consider any such list to be a complete set of all potential risks or uncertainties.
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SOURCE Peabody