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Low Natural Gas Prices Hit Peabody Earnings (BTU)

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By Paul Ausick Published
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Coal miner Peabody Energy Corp. (NYSE: BTU) missed earnings and revenue estimates this morning and the shares are trading down more than -5%. Second fiscal quarter adjusted EPS came in at $0.98 compared with a consensus estimate of $1.29. Revenue of $2.25 billion also failed to meet the consensus estimate of $2.34 billion.

Coal-fired electricity generation fell by -5% in the US, though Peabody estimated that global demand for coal grew to 7.5 billion tons in 2011, led by demand from China, India, and other emerging market countries. For the current year, the company expects to see more fuel-switching from coal to natural gas in the US.

Peabody’s shares are down nearly -6% shortly before noon at $35.39 in a 52-week range of $30.60-$73.95.

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About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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