Peabody Drops as Profit Misses Estimates on Australia Output
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Peabody Energy Corp., the biggest U.S. coal producer, fell after posting fourth-quarter profit that missed analysts’ estimates because of lower output at its Australian operations .
Peabody dropped 1.7 percent to $36.86 in New York after earlier sliding as much as 7.5 percent, the biggest intraday decline since Nov. 17. Net income rose 5.9 percent to $222.4 million, or 82 cents, from $210 million, or 77 cents, a year earlier, the St. Louis-based company said today in a statement. Earnings excluding a tax-related expense were 98 cents, lagging behind the $1.30 average of 23 estimates compiled by Bloomberg.