Grech said he visited Australia and saw the Centurion Mine in its final stages of preparation, with the “very last shield” being installed ahead of starting longwall mining. He said this was “well ahead” of the project’s original schedule and called Centurion the cornerstone asset in Peabody’s plan to intentionally shift its portfolio toward higher-margin metallurgical coal.On environmental performance, Grech said the company reclaimed twice as many acres as it disturbed in 2025 and tied its all-time record ...

I primarily invest in turnarounds in natural resource industries, where I have a typical holding period of 2-4 years. Focusing on value offers good downside protection and can still provide great upside participation. The portfolio has, over the last 7 years, had a compounded annual growth rate of 38% .If you like this article and are interested in more frequent analysis of my holding companies real-time notifications on portfolio changes, together with macro and industry analysis. I would encourage you to ...

I primarily invest in turnarounds in natural resource industries, where I have a typical holding period of 2-4 years. Focusing on value offers good downside protection and can still provide great upside participation. The portfolio has, over the last 7 years, had a compounded annual growth rate of 38% .If you like this article and are interested in more frequent analysis of my holding companies real-time notifications on portfolio changes, together with macro and industry analysis. I would encourage you to ...

Financial Data and Key Metrics Changes - In Q4 2025, the company recorded net income attributable to common stockholders of $10.4 million or $0.09 per diluted share, with adjusted EBITDA of $118 million, a 19% increase from the prior quarter [25] - The company generated $69 million of operating cash flow from continuing operations during the quarter and $336 million for the full year, ending the year with $575 million in cash and total liquidity above $900 million [25][26] - For the full year, results met or exceeded original guidance for seven of eight volume and cost metrics, with seaborne thermal delivering 3.3 million tons, exceeding expectations [26] Business Line Data and Key Metrics Changes - Seaborne metallurgical coal shipped 2.5 million tons, up 400,000 from the third quarter, with realized pricing improving to $113 per ton [27] - The U.S. Thermal platform contributed $63 million of adjusted EBITDA in Q4, with nearly $250 million of adjusted EBITDA for the full year [28] - PRB operations shipped 22.3 million tons in Q4 and 84.5 million tons for the full year, almost 5 million tons or 6% more than the prior year [29] Market Data and Key Metrics Changes - Benchmark pricing for seaborne metallurgical coal rose to its highest mark in 18 months, increasing 15% from $190 per ton at the beginning of Q4 [16] - Coal fuel generation in the U.S. was up an estimated 13% year-over-year in 2025, running ahead of projections [20] - Asian countries continue to add coal generation capacity, with China adding 80 gigawatts of new capacity in 2025 [19] Company Strategy and Development Direction - The Centurion Mine is expected to ship an average of 4.7 million tons per year of premium hard coking coal, with a net present value for the project of $2.1 billion at $225 benchmark pricing [5][6] - The company aims to maximize long-term shareholder value by reweighting its portfolio toward higher-margin metallurgical coal [7] - Peabody is also evaluating renewable projects in formerly mined lands and developing a gas power station at the Centurion Mine [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in improving market fundamentals and highlighted a full agenda of priorities for the new year [3] - The company noted that coal remains a critical energy asset in the U.S., with substantial strength in both domestic thermal and seaborne metallurgical coal markets [15][13] - Management emphasized the importance of safety and environmental excellence, achieving a record safety year with an incident rate of 0.71 per 200,000 hours worked [3][4] Other Important Information - The company has conducted a robust critical mineral testing program, uncovering promising concentrations of heavy rare earths and other critical minerals [10] - Peabody is working with government agencies to strengthen domestic critical mineral supply chains and has been recommended for a $6.25 million grant for a pilot processing plant [11] Q&A Session Summary Question: What do you assume for the Australian dollar in the cost guide? - The company is looking at $0.70 for the Australian dollar and using a $225 benchmark pricing [39] Question: How much CapEx is potentially still left for Centurion development? - Approximately $100 million a year in development for the north for the next three years, plus $25 million a year in sustaining capital in the south [40] Question: How should we think about pricing in 2027 and beyond? - The company is not providing specific guidance for 2027 but expects favorable pricing conditions due to ongoing contracting [44] Question: What are the drivers for the increase in seaborne thermal costs? - The increase is primarily due to lower production volumes, particularly at Wilpinjong, and a slightly higher Australian dollar impacting costs [49] Question: How should we think about the cadence of shipments as the year progresses? - Seaborne thermal is expected to be less ratable in Q1, with a bounce back in Q2 and Q3, while Centurion will ramp up production throughout the year [54]

Peabody Energy (NYSE:BTU) Q4 2025 Earnings call February 05, 2026 11:00 AM ET Company ParticipantsJim Grech - President and CEOKala Finklang - Director of Investor RelationsMalcolm Roberts - Chief Commercial OfficerMark Spurbeck - CFOConference Call ParticipantsGeorge Eadie - Metals and Mining AnalystKatja Jancic - Metals and Mining AnalystNathan Martin - Senior Equity Research AnalystNick Giles - Senior Research AnalystOperatorGood day, and welcome to the Peabody Q4 2025 Earnings Conference Call. All parti ...

Peabody Energy (NYSE:BTU) Q4 2025 Earnings call February 05, 2026 11:00 AM ET Speaker8Good day, and welcome to the Peabody Q4 2025 Earnings Conference Call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press Star, then one on a touch-tone phone. To withdraw your question, please press Star then two. ...

Financial Performance - Peabody reported fourth quarter net income of $10.4 million, or $0.09 per diluted share, down from $30.6 million, or $0.25 per diluted share, in the prior year quarter [2]. - Full-year 2025 revenue totaled $3,861.5 million, a decrease from $4,236.7 million in the prior year, with a full-year net income of $(52.9) million, or $(0.43) per diluted share [2]. - Adjusted EBITDA for 2025 was $454.9 million, significantly lower than $871.7 million in the prior year [2]. - Total revenue for Q4 2025 was $1,022.3 million, a decrease of 9.0% compared to $1,123.1 million in Q4 2024 [43]. - Seaborne Thermal revenue decreased to $205.6 million in Q4 2025 from $309.3 million in Q4 2024, representing a decline of 33.5% [43]. - The total U.S. Thermal revenue for the year ended December 31, 2025, was $1,860.3 million, down from $1,921.4 million in 2024, a decrease of 3.2% [43]. - Adjusted EBITDA for the year ended December 31, 2025, was $454.9 million, compared to $871.7 million in 2024, a decline of 47.9% [43]. - Adjusted EBITDA for Q4 2025 was $118.1 million, up from $99.5 million in Q3 2025, representing an increase of approximately 18.3% [40]. - Income from continuing operations for Q4 2025 was $11.6 million, a significant recovery from a loss of $66.6 million in Q3 2025 [40]. Production and Sales - Seaborne Thermal volumes reached 3.3 million tons in Q4 2025, with an average export price per ton of $81.80, a 7% increase from the prior quarter [8]. - Peabody's Powder River Basin shipped 22.3 million tons in Q4 2025, achieving an Adjusted EBITDA of $44.8 million for the quarter, a 27% increase over 2024 [11]. - Total tons sold in Q4 2025 was 31.9 million, down from 33.1 million in Q4 2024, a decrease of 3.6% [43]. - Seaborne metallurgical volumes are expected to be 2.4 million tons, achieving approximately 75% of the premium hard coking coal price index, with costs anticipated at $117-$122 per ton [24]. - PRB volume is expected to be approximately 21 million tons at an average price of $13.40 per ton, with costs of approximately $11.75-$12.25 per ton [27]. - For Q1 2026, Seaborne Thermal volumes are expected to be 2.8 million tons, with export tons priced at $101.05 per ton and segment costs anticipated to be $51-$56 per ton [23]. Cash Flow and Assets - Peabody's cash and cash equivalents stood at $575 million at the end of 2025, supported by $336 million of operating cash flow from continuing operations [13]. - Cash, cash equivalents, and restricted cash at the end of Q4 2025 were $1,284.5 million, down from $1,382.6 million at the end of Q4 2024, a decrease of approximately 7.1% [37]. - Net cash provided by operating activities for Q4 2025 was $68.6 million, compared to $119.8 million in Q4 2024, reflecting a decrease of approximately 42.6% [37]. - The company reported a net cash used in financing activities of $11.4 million for Q4 2025, compared to $28.9 million in Q3 2025, indicating a decrease of about 60.6% [37]. - The company experienced a net change in cash of $(36.6) million in Q4 2025, contrasting with a positive change of $21.0 million in Q3 2025 [37]. Capital Expenditures and Expenses - Total capital expenditures for 2026 are projected to be $340 million, with SG&A expenses estimated at $115 million [30]. - Total segment costs for the year ended December 31, 2025, were $3,312.2 million, a decrease from $3,374.3 million in 2024, reflecting a reduction of about 1.8% [41]. - Total segment costs for Q4 2025 were $871.1 million, a decrease of 7.1% from $938.1 million in Q4 2024 [43]. Strategic Initiatives - The company is advancing projects related to rare earth elements and critical minerals, with significant testing ongoing at its Powder River Basin operations [19]. - Peabody's metallurgical coal realizations are expected to improve from approximately 70% of benchmark pricing in 2025 to 80% in 2026 [18]. - Peabody has been recommended for $6.25 million funding by the Wyoming Energy Authority for a pilot plant using PRB coal for REE/CM processing [21]. - The company expects to continue focusing on market expansion and strategic investments in rare earth elements and critical minerals [48]. Dividends and Shareholder Returns - The company declared a dividend of $0.075 per share, payable on March 10, 2026 [9]. - The company reported dividends paid of $9.0 million in Q4 2025, slightly down from $9.2 million in Q3 2025 [37]. - The company aims to preserve balance sheet strength and increase free cash flow to support shareholder returns [26]. Restructuring and Charges - The company incurred restructuring charges of $0.3 million in Q4 2025, down from $4.0 million in Q3 2025, showing a decline of approximately 92.5% [40].

Core Insights - Peabody reported a fourth quarter net income of $10.4 million, down from $30.6 million year-over-year, with Adjusted EBITDA of $118.1 million compared to $176.7 million in the previous year [1][2][29] - Full-year 2025 revenue was $3,861.5 million, a decrease from $4,236.7 million in 2024, with a net loss attributable to common stockholders of $(52.9) million, compared to a profit of $370.9 million in the prior year [2][29] - The company achieved record safety and environmental results, with a global Total Recordable Incident Frequency Rate (TRIFR) of 0.71, the lowest in its history [6][12] Financial Performance - Fourth quarter revenue was $1,022.3 million, with operating costs of $878.4 million, leading to an operating profit of $7.8 million [29] - Full-year Adjusted EBITDA was $454.9 million, significantly lower than $871.7 million in 2024 [2][29] - Operating cash flow from continuing operations was $336 million, with cash and cash equivalents totaling $575 million at year-end [12][29] Operational Highlights - Peabody's Centurion longwall mining operations commenced two months ahead of schedule, expected to produce 3.5 million tons in 2026 and ramping up to 4.7 million tons by 2028 [14][15] - The company reported strong performance in the Powder River Basin, shipping 22.3 million tons in the fourth quarter, a 4.9 million ton increase from 2024 [10][12] - Seaborne thermal coal volumes totaled 3.3 million tons in the fourth quarter, with an average export price per ton of $81.80, a 7% increase from the previous quarter [7][8] Market Conditions - U.S. market conditions are favorable for thermal coal, driven by higher natural gas prices and increased coal generation demand [3][6] - Peabody is advancing projects related to rare earth elements and critical minerals, with potential funding of $6.25 million for a pilot plant [17][22] Strategic Focus - The company aims to ramp up metallurgical coal production while maintaining its leadership in U.S. energy coal [19] - Peabody's 2026 guidance includes expected seaborne thermal volumes of 12.0 - 13.0 million tons and seaborne metallurgical volumes of 10.3 - 11.3 million tons [26][27]

We came across a bullish thesis on Peabody Energy Corporation on Valueinvestorsclub.com by mana12. In this article, we will summarize the bulls’ thesis on BTU. Peabody Energy Corporation's share was trading at $35.26 as of January 30th. BTU’s trailing and forward P/E were 26.89 and 25.19 respectively according to Yahoo Finance. Peabody Energy Corporation engages in coal mining business. BTU presents a compelling bullish investment case driven by a combination of undervalued core operations, emerging crit ...

证券研究报告 | 行业研究简报 gszqdatemark 2026 02 01 年 月 日 煤炭开采 2025 年蒙煤电子竞拍梳理 本周全球能源价格回顾。截至 2026 年 1 月 30 日，原油价格方面，布伦特原 油期货结算价为 70.69 美元/桶，较上周上涨 4.81 美元/桶（+7.3%）；WTI 原油期货结算价为 65.21 美元/桶，较上周上涨 4.14 美元/桶（+6.78%）。 天然气价格方面，东北亚 LNG 现货到岸价为 11.68 美元/百万英热，较上周 下降 0.13 美元/百万英热（-1.11%）；荷兰 TTF 天然气期货结算价 40.65 欧 元/兆瓦时，较上周上涨 1.28 欧元/兆瓦时（+3.24%）；美国 HH 天然气期 货结算价为 4.42 美元/百万英热，较上周下降 0.94 美元/百万英热（-17.5%）。 煤炭价格方面，欧洲 ARA 港口煤炭（6000K）到岸价 101.5 美元/吨，较上周 上涨 3 美元/吨（+3.05%）；纽卡斯尔港口煤炭（6000K）FOB 价 116.75 美 元/吨，较上周上涨 5.25 美元/吨（+4.71%）；IPE 南非理查兹湾煤炭期货 ...