Peabody Rises as Profit Tops Estimates on Mining Costs
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Peabody Energy Corp., the largest U.S. coal producer, rose the most in three months after reporting fourth-quarter profit that beat analysts’ estimates as some mining costs fell.
Peabody climbed 5.6 percent to $26.56 in New York, the biggest gain since Oct. 22. It had a net loss of $1.01 billion, or $3.78 a share, in the quarter, which compares with net income of $222.4 million, or 82 cents, a year earlier, the company said today in a statement. Profit excluding costs from asset impairments, an income-tax expense and other one-time items was 36 cents a share, topping the 26-cent average of 24 estimates compiled by Bloomberg.