Peabody Profit Beats Estimates as Australian Output Gains
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Peabody Energy Corp., the largest U.S. coal producer, posted first-quarter earnings that beat analysts’ estimates after an increase in output and revenue per ton in Australia.
Net income fell 2.2 percent to $172.7 million, or 63 cents a share, from $176.5 million, or 65 cents, a year earlier, St. Louis-based Peabody said today in a statement. Earnings excluding a tax-related expense were 11 cents higher than the average of 23 estimates compiled by Bloomberg.