Core Points - BTU Metals Corp. has announced a non-brokered private placement of up to 12,000,000 flow-through shares priced at $0.05 per share [1] - The total gross proceeds from this offering are expected to reach up to $600,000 [1] Company Summary - The company is engaging in a flow-through share offering, which is a common method for raising capital in the mining sector [1] - The offering is structured to attract investors by providing tax benefits associated with flow-through shares [1]

Sales and Production - Peabody sold 118.0 million tons of coal in 2024, with 16 active coal mining operations as of September 30, 2025[115]. - Total tons sold increased by 2% to 32.5 million tons for the three months ended September 30, 2025, compared to 31.9 million tons in the same period of 2024[131]. - Seaborne Metallurgical tons sold increased by 24% to 2.1 million tons for the three months ended September 30, 2025, compared to 1.7 million tons in the same period of 2024[131]. - The company had approximately 99 million tons of U.S. thermal coal priced and committed for 2025, including 86 million tons of PRB coal and 13 million tons of other U.S. thermal coal[238]. - Estimated full year 2025 thermal coal sales volumes from the Seaborne Thermal segment are projected to be between 15.1 million to 15.4 million tons[238]. - Estimated full year 2025 metallurgical coal sales from the Seaborne Metallurgical segment are projected to be between 8.3 million to 8.5 million tons[238]. Financial Performance - Adjusted EBITDA for the three months ended September 30, 2025 decreased by $125.3 million year-over-year, and by $358.2 million for the nine months[130]. - The decrease in net income from continuing operations for the three and nine months ended September 30, 2025 was $179.1 million and $422.9 million, respectively, primarily due to lower seaborne coal pricing[129]. - Total revenue decreased by 7% to $1,012.1 million for the three months ended September 30, 2025, compared to $1,088.0 million in the same period of 2024[134]. - Overall, the company's total Adjusted EBITDA decreased by $358.2 million (52%) to $336.8 million for the nine months ended September 30, 2025, compared to the prior year[147]. - Adjusted EBITDA for Q3 2025 was $99.5 million, a decrease of 56% from $224.8 million in Q3 2024[158]. - Net loss from continuing operations for Q3 2025 was $(66.6) million, compared to a profit of $112.5 million in Q3 2024, representing a 159% decrease[167]. - Diluted EPS for the three months ended September 30, 2025, was $(0.58), a decrease of 178% compared to $0.74 in 2024[169]. - Total revenue for the nine months ended September 30, 2025, was $2.8 billion, compared to $2.9 billion in 2024, a decrease of 3.4%[176]. Segment Performance - Revenue for Seaborne Thermal decreased by 23% to $242.7 million for the three months ended September 30, 2025, compared to $313.2 million in the same period of 2024[134]. - Adjusted EBITDA for Seaborne Thermal decreased by $79.0 million (66%) to $41.0 million for the three months ended September 30, 2025, compared to the same period in the prior year[147]. - Adjusted EBITDA for Seaborne Metallurgical was flat at $27.8 million for the three months ended September 30, 2025, with lower realized prices offsetting favorable operational costs[149]. - Adjusted EBITDA for Powder River Basin increased by $42.5 million during the nine months ended September 30, 2025, driven by favorable volume and higher realized prices[152]. - Other U.S. Thermal segment revenue decreased by 11% to $192.0 million for the three months ended September 30, 2025, compared to $216.7 million in the same period of 2024[138]. Costs and Expenses - Total segment costs increased by 6% to $887.4 million for the three months ended September 30, 2025, compared to $840.2 million in the same period of 2024[140]. - Corporate and Other Adjusted EBITDA decreased by $24.8 million (800%) to $(27.9) million for the three months ended September 30, 2025, driven by unfavorable variances in Middlemount's results and higher selling and administrative expenses[155]. - The company incurred costs of $54.0 million and $75.2 million related to the terminated Anglo acquisition for the three and nine months ended September 30, 2025, respectively[129]. - Depreciation, depletion, and amortization expense increased by 18% to $100.0 million in Q3 2025 compared to $84.7 million in Q3 2024[158]. - Cash paid for interest amounted to $35.0 million during the nine months ended September 30, 2025, compared to $32.6 million in the prior year[215]. Regulatory and Environmental Factors - The SEC adopted final rules on March 6, 2024, requiring public companies to disclose climate-related risks that could materially impact their business, but implementation was stayed pending judicial review[189]. - The EPA proposed to rescind the 2009 endangerment finding regarding GHG emissions and repeal vehicle rules based on GHG emissions on August 1, 2025[182]. - The Company continues to monitor litigation related to "climate superfund" laws filed by the U.S. Department of Justice against several states, which could impact the coal mining industry[186]. - The Company is facing potential additional security requirements for self-insuring black lung liabilities due to regulatory changes[178]. Liquidity and Capital Expenditures - As of September 30, 2025, the Company's cash and cash equivalents totaled $603.3 million, with approximately $377 million held by U.S. subsidiaries and $215 million by Australian subsidiaries[201]. - The Company's available liquidity decreased from $1,072.5 million as of December 31, 2024 to $951.2 million as of September 30, 2025, with cash and cash equivalents at $603.3 million and revolving credit facility availability at $270.7 million[202]. - The Company expects capital expenditures of approximately $420 million for 2025[212]. - Total indebtedness as of September 30, 2025 was $337.3 million, with long-term debt at $321.8 million[214]. Other Financial Metrics - Interest income decreased by 21% to $13.9 million in Q3 2025, driven by lower average cash balances[163]. - The company recorded a $109.5 million insurance recovery related to Shoal Creek losses, with $28.7 million recognized in Adjusted EBITDA for the nine months ended September 30, 2024[162]. - The maximum aggregate collateral amount was $519.2 million as of September 30, 2025, consisting of $392.8 million in trust accounts and $126.4 million in letters of credit[205]. - The restricted cash and collateral balance increased by $41.2 million during the nine months ended September 30, 2025, due to an increase in bonding requirements and foreign currency rate changes[231].

Core Insights - Peabody Energy Corp. (NYSE:BTU) has shown strong performance recently, with a 9.19% increase in stock price, closing at $29.94, as investors prepare for upcoming dividend payments [1][3] - The company announced a dividend distribution of $0.75 per common share, with a record date of November 13, 2025, and payment scheduled for December 3, 2025 [2] - Despite reporting a net loss of $70.1 million in Q3, down from a net income of $101.3 million in the same period last year, Peabody remains optimistic about its business outlook for 2025 [3][4] Financial Performance - Peabody Energy's revenues decreased by 7% year-on-year, falling to $1.012 billion from $1.088 billion [3] - The company is projecting significant volume increases across all business segments for the full-year 2025, with specific targets for PRB US Thermal, seaborne thermal, and seaborne metallurgical [4] Market Sentiment - The stock's recent rally is attributed to investor confidence ahead of the dividend record date, despite the company's weak earnings results [1][3]

Core Insights - CHARBONE CORPORATION has engaged RB Milestone Group LLC for investor relations services, including corporate communications and market intelligence, for an initial term of 6 months at a cost of US$59,500 [1][2] - The company is revising its shares-for-debt settlement, agreeing to settle $30,000 of a total of $118,095 through the issuance of 500,000 common shares, subject to TSX Venture Exchange approval [3] Company Overview - CHARBONE specializes in clean Ultra High Purity (UHP) hydrogen and the strategic distribution of industrial gases in North America and Asia-Pacific, focusing on building a distributed network of green hydrogen production plants [4] - The company aims to diversify its revenue streams through partnerships in helium and specialty gases, positioning itself as a leader in the transition to a low-carbon future [4]

Financial Data and Key Metrics Changes - The company reported a GAAP net loss attributable to common stockholders of $70.1 million or $0.58 per diluted share, which included $54 million of acquisition termination costs [24] - Adjusted EBITDA was just under $100 million, with operating cash flow of $122 million [24][22] - Cash position at September 30 was $603 million, with total liquidity exceeding $950 million [22] Business Line Data and Key Metrics Changes - Seaborne thermal segment recorded $41 million of adjusted EBITDA with 17% margins, exceeding expectations with an increase of 500,000 tons quarter over quarter [24] - Seaborne metallurgical segment reported adjusted EBITDA of $28 million, with revenue per ton rising 6% quarter over quarter [25] - U.S. thermal mines generated $59 million of adjusted EBITDA, driven by improved domestic demand [26] Market Data and Key Metrics Changes - The average benchmark price for seaborne thermal coal increased by 8% in the third quarter [14] - U.S. coal generation increased by 11% year to date, driven by favorable market fundamentals [15] - Seaborne metallurgical coal benchmark price averaged $184 per metric tonne, unchanged from Q2 [12] Company Strategy and Development Direction - The company is focused on safe, productive, and environmentally sound operations, with an emphasis on maximizing shareholder returns [34] - The Centurion mine is expected to significantly boost the company's metallurgical coal portfolio, with production expected to expand sevenfold in 2026 [3][4] - The company is assessing its potential to meet growing U.S. needs for rare earth elements and critical minerals [35] Management's Comments on Operating Environment and Future Outlook - Management highlighted the increasing demand for coal due to the growth of data centers and manufacturing in the U.S. [6][7] - The company anticipates that coal's role in power generation will remain significant, especially during peak demand periods [7][8] - Management expressed confidence in the ability to generate free cash flow and deliver outsized returns to shareholders [22] Other Important Information - The company is in the early stages of assessing its potential for producing rare earth elements and critical minerals, with preliminary data expected by year-end [35][76] - The company has a robust balance sheet, providing flexibility to navigate market volatility [31] Q&A Session Summary Question: What is the maximum level of output Peabody could produce in the PRB? - Management indicated that expansion would depend on customer commitments and price signals, with latent capacity being absorbed quickly [39][49] Question: How is the company thinking about M&A opportunities in the metallurgical segment? - The focus remains on getting the Centurion mine operational and maximizing output before considering further M&A [54][56] Question: What details can be expected regarding rare earth elements by year-end? - Management stated that a preliminary analysis of indicative element types and concentrations will be provided at year-end [74][75] Question: What impact do recent U.S.-China agreements on rare earths have on domestic projects? - Management noted a strong desire for domestic supply of rare earth elements, but specifics on government support were not provided [81] Question: Will the arbitration process with Anglo American affect future M&A? - Management expressed confidence in the arbitration process and stated it would not hinder strategic decisions regarding M&A [82]

Group 1 - The investment strategy focuses on turnarounds in natural resource industries with a typical holding period of 2-4 years, emphasizing value for downside protection and upside participation [1][2] - The portfolio has achieved a compounded annual growth rate of 34% over the last 7 years, indicating strong performance in the sector [1] - Peabody Energy Corporation (BTU) is identified as the largest coal mining company in the U.S. based on production volume, highlighting its significant position in the industry [2] Group 2 - The investment group targets companies with quality characteristics that are trading at depressed valuations, allowing for participation in the upside of natural resource investing while mitigating extreme drawdowns [2]

Group 1 - The company primarily invests in turnarounds within the natural resource industries, with a typical holding period of 2-4 years, focusing on value for downside protection and upside participation [1][2] - The portfolio has achieved a compounded annual growth rate of 34% over the last 7 years, indicating strong performance [1] - Peabody Energy Corporation (BTU) is identified as the largest coal mining company in the U.S. based on production volume, highlighting its significant market position [2] Group 2 - The investment strategy emphasizes companies with quality characteristics that are trading at depressed valuations, allowing for participation in the upside of natural resource investing while mitigating extreme drawdowns [2]

Core Insights - Peabody Energy reported a quarterly loss of $0.58 per share, significantly worse than the Zacks Consensus Estimate of a loss of $0.19, marking an earnings surprise of -205.26% [1] - The company generated revenues of $1.01 billion for the quarter ended September 2025, exceeding the Zacks Consensus Estimate by 4.17%, but down from $1.09 billion year-over-year [2] - Peabody Energy shares have increased approximately 28.9% year-to-date, outperforming the S&P 500's gain of 17.2% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.18 on revenues of $948.3 million, and for the current fiscal year, it is -$0.30 on revenues of $3.75 billion [7] - The trend of estimate revisions for Peabody Energy was unfavorable prior to the earnings release, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Industry Context - The coal industry, to which Peabody Energy belongs, is currently ranked in the bottom 6% of over 250 Zacks industries, suggesting a challenging environment [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Peabody Energy's stock performance [5]

Financial Performance - Peabody reported a net income of $(70.1) million for Q3 2025, down from $101.3 million in the prior-year quarter, resulting in a loss of $(0.58) per diluted share[2]. - Adjusted EBITDA for Q3 2025 was $99.5 million, a 14% increase in revenues compared to Q2 2025, but down from $224.8 million in Q3 2024[5]. - Revenue for Q3 2025 was $1,012.1 million, up from $890.1 million in Q2 2025 but down from $1,088.0 million in Q3 2024[22]. - Operating costs and expenses in Q3 2025 totaled $896.9 million, compared to $789.4 million in Q2 2025 and $845.8 million in Q3 2024[22]. - The company reported an operating loss of $81.4 million in Q3 2025, a decline from an operating profit of $120.1 million in Q3 2024[22]. - Net loss attributable to common stockholders in Q3 2025 was $70.1 million, compared to a loss of $27.6 million in Q2 2025 and a profit of $101.3 million in Q3 2024[22]. - Total revenue for Q3 2025 was $1,012.1 million, a 13.7% increase from $890.1 million in Q2 2025[32]. - The adjusted EBITDA for the nine months ended September 30, 2025, was $336.8 million, compared to $695.0 million in the same period of 2024[32]. Segment Performance - Seaborne Thermal segment achieved an Adjusted EBITDA of $41.0 million, with tons sold increasing by 500,000 tons quarter-over-quarter, resulting in an Adjusted EBITDA margin of 17%[6]. - Seaborne Metallurgical segment reported an Adjusted EBITDA of $27.8 million, with tons sold at 2.1 million, and revenue per ton increased by 6% quarter-over-quarter[7]. - Powder River Basin Adjusted EBITDA totaled $51.7 million, a 20% increase over the prior quarter, driven by higher volumes and costs per ton at the low end of targeted ranges[8]. - Adjusted EBITDA for Total U.S. Thermal was $58.6 million in Q3 2025, compared to $56.5 million in Q2 2025, reflecting a 3.7% increase[32]. - Adjusted EBITDA for Seaborne Metallurgical was $27.8 million in Q3 2025, recovering from a loss of $9.2 million in Q2 2025[32]. - Corporate and Other segment reported a profit of $17.1 million in Q3 2025, compared to a profit of $12.0 million in Q2 2025[32]. Cash Flow and Liquidity - Peabody generated $122 million in operating cash flow in Q3 2025, with total liquidity exceeding $950 million as of September 30, 2025[10]. - Net cash provided by continuing operations for Q3 2025 was $122.5 million, a significant increase from $23.8 million in Q2 2025[27]. - Total cash used in investing activities for Q3 2025 was $(72.1) million, compared to $(91.1) million in Q2 2025[27]. - Cash, cash equivalents, and restricted cash at the end of Q3 2025 totaled $1,321.1 million, slightly down from $1,300.1 million at the end of Q2 2025[27]. - Net cash used in financing activities for Q3 2025 was $(28.9) million, compared to $(15.8) million in Q2 2025[27]. Assets and Liabilities - Total assets as of September 30, 2025, were $5,744.3 million, down from $5,953.7 million as of December 31, 2024[26]. - Cash and cash equivalents decreased to $603.3 million as of September 30, 2025, from $700.4 million at the end of 2024[26]. - The company’s total liabilities were $2,160.6 million as of September 30, 2025, compared to $2,244.9 million at the end of 2024[26]. Future Outlook and Strategic Initiatives - The company declared a dividend of $0.075 per share on common stock on October 30, 2025[5]. - Full-year 2025 guidance for Seaborne Thermal is set at 15.1 - 15.4 million tons, with pricing per short ton expected at $56.30[19]. - The Centurion Mine is on track for an accelerated startup of longwall production in February 2026, with 210,000 tons shipped in Q3 2025[5]. - Peabody expects to strengthen its full-year 2025 targets for seaborne met, seaborne thermal, and PRB segments, benefiting from favorable U.S. coal policies[12]. - The company anticipates continued market challenges but remains focused on strategic investments and operational efficiency[37]. - The company plans to explore potential acquisitions and strategic investments to enhance growth opportunities[37].

Core Viewpoint - Wall Street anticipates a year-over-year decline in earnings for Peabody Energy due to lower revenues, with a consensus estimate of a quarterly loss of $0.19 per share, reflecting a significant year-over-year change of -125.3% [1][3] Earnings Expectations - Revenues for Peabody Energy are projected to be $971.6 million, which is a decrease of 10.7% compared to the same quarter last year [3] - The upcoming earnings report is expected to be released on October 30, and the stock may react positively if actual results exceed expectations, while a miss could lead to a decline [2] Estimate Revisions - The consensus EPS estimate has been revised down by 500% over the last 30 days, indicating a significant reassessment by analysts [4] - The Most Accurate Estimate for Peabody Energy aligns with the Zacks Consensus Estimate, resulting in an Earnings ESP of 0% [12] Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive or negative reading indicates the likely deviation of actual earnings from the consensus estimate, but its predictive power is mainly significant for positive readings [9][10] - Peabody Energy currently holds a Zacks Rank of 4, which complicates the prediction of an earnings beat [12] Historical Performance - In the last reported quarter, Peabody Energy was expected to post a loss of $0.04 per share but actually reported a loss of $0.06, resulting in a surprise of -50.00% [13] - Over the past four quarters, the company has beaten consensus EPS estimates two times [14] Industry Context - Ramaco Resources, another player in the coal industry, is expected to report a loss per share of $0.33 for the same quarter, with revenues projected at $125.32 million, down 25.1% year-over-year [18] - The consensus EPS estimate for Ramaco Resources has been revised down by 4400% in the last 30 days, and it also holds a Zacks Rank of 4, indicating challenges in predicting an earnings beat [19][20]