Peabody Quarterly Profit Rises 32% on Higher Coal Prices
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Peabody Energy Corp., the largest U.S. coal producer, said first-quarter profit rose 32 percent on higher prices for the utility-plant fuel and steelmaking component.
Net income climbed to $176.5 million, or 65 cents a share, from $133.7 million, or 50 cents, a year earlier, St. Louis-based Peabody said today in a statement. The company was expected to earn 61 cents a share, according to the median of seven analyst estimates compiled by Bloomberg. Sales rose 15 percent to $1.74 billion from $1.52 billion.