The company noted, “The target is based on recent storms and flooding in Queensland, which have halted port and rail movements, curtailed production at surface mines and restricted access to underground operations. The company places early estimates of the impacts at approximately $50 million for the first quarter related to lower production and sales volumes and higher costs due to volume impacts and recovery expenses. Actual quarterly results may vary depending on the pace of recovery from the flooding.”
Peabody shares are currently down about 1.1% at $30.21 against a 52-week trading range of $29.78 to $73.95. With as low as these shares were. at some point you would expect the bad news to be priced into the stock. The market value is almost $8.3 billion.
JON C. OGG
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