The Zacks Coal industry stocks are suffering due to a decline in the use of coal in thermal power plants in the United States. In 2025, the demand for coal will be adversely impacted by the planned retirement of coal units and the utilization of more renewable sources for electricity generation. The ongoing energy transition, with utility operators steadily phasing out coal units, may hit the coal industry. The utilities are heavily relying on their inventories to meet the demand for coal. Hence, coal produ ...

ST. LOUIS, Jan. 28, 2025 /PRNewswire/ -- On Thursday, February 6, 2025, Peabody (NYSE: BTU) will announce results for the quarter and year ended December 31, 2024. A conference call with management is scheduled for 10 a.m. CT on Thursday, February 6, 2025. Instructions for the conference call participation and accessing a replay, as well as other investor data, will be available at PeabodyEnergy.com prior to the call.  Participants may also access the call using the following phone numbers: U.S. Toll Free   ...

Peabody Energy Corporation (NYSE: BTU ) is a diversified coal producer, currently with a 60/40 split between thermal and metallurgical/coking coal on an EBITDA basis. The company’s operations are based in Australia and the United States, giving it access to both Eastern and WesternI am interested in small capitalized companies with a high optionality to the upside compared to the relative downside risk. I am grounded in a value based approach but will also explore special and short situations. I am a traine ...

Peabody Energy Corp (NYSE:BTU) stock has been chopping lower since its Nov. 6 52-week high of $29.94, down 10% in just the last week. The shares could be headed for a short-term bounce, however, as the pullback has them running into a short-term "buy" signal. BTU just moved below the bottom band of its 20-day Bollinger Bands. Per Schaeffer's Senior Quantitative Analyst Rocky White, the shares moved higher after the past nine tests of this trendline, averaging a one-month gain of 6.4%. From its current perc ...

KEY TAKEAWAYSAnglo American is selling its remaining steelmaking coal assets for up to $3.8 billion to U.S. firm Peabody Energy.Anglo American is restructuring after rejecting BHP's multiple attempts to take it over.Peabody said the Australian coal assets would help it meet Asian demand for steel. Anglo American is selling its remaining steelmaking coal assets for up to nearly $3.8 billion to U.S. firm Peabody Energy (BTU), as the London-listed mining giant restructures its business after rejecting several ...

Transforms Peabody into a leading global seaborne metallurgical coal producer with Tier 1 mines1 near the world's strongest steel markets Transaction represents an attractive 3.1x times enterprise-value-to-2026 EBITDA multiple Delivers significant cash flow accretion to Peabody across all time periods Positions Peabody to capture substantial synergies and enhance margins Enables continuing capital allocation balance between shareholder returns and reinvestment in the portfolio Company to host conference ...

Partnership projects will have the capacity of more than 5.5 Gigawatt of solar energy and battery storage across Indiana and Illinois Creates significant local jobs and regional economic benefits and potential energy production to power 850,000 homes RWE is acquiring majority interest in the R3 Renewables LLC ownership group AUSTIN, Texas and ST. LOUIS, Nov. 21, 2024 /PRNewswire/ -- RWE, a leading renewable energy company, and Peabody (NYSE: BTU) today announced a new partnership to strategically advance r ...

Group 1 - Radius Recycling, Inc. appointed Marc Hathhorn as Executive Vice President and Chief Operating Officer effective November 1, 2024, bringing over 30 years of leadership experience in the mining industry [1][2] - Hathhorn previously served as President of Global Operations at Peabody Energy Corporation, overseeing 5,000 employees and 17 coal mines, achieving multiple safety performance awards and exceeding environmental management goals [2] - The company aims to advance its operational and financial goals, focusing on investments in advanced metal recovery technologies, expanding recycling services, and improving productivity [3] Group 2 - Radius Recycling operates over 100 facilities producing more than 4 million tons of recycled ferrous volumes and over 700 million pounds of nonferrous volumes annually [3] - The company produces low carbon and net zero carbon emission GRN™ finished steel products exceeding 500 thousand tons and offers a service and supply chain solution to enhance customer recycling rates [3] - Radius Recycling is one of the largest manufacturers and exporters of recycled metal products in North America, with operations in 25 states, Puerto Rico, and Western Canada [4]

[PART I — FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%20%E2%80%94%20FINANCIAL%20INFORMATION) This section presents the unaudited condensed consolidated financial statements and management's discussion and analysis of financial condition and results of operations [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents Peabody Energy Corporation's unaudited condensed consolidated financial statements and comprehensive notes for the interim period [Unaudited Condensed Consolidated Statements of Operations](index=3&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Operations) This statement details the company's revenues, operating profit, and net income for the specified interim periods | Metric | Three Months Ended Sep 30, 2024 (Millions) | Three Months Ended Sep 30, 2023 (Millions) | Nine Months Ended Sep 30, 2024 (Millions) | Nine Months Ended Sep 30, 2023 (Millions) | |:-------------------------------------------|:-------------------------------------------|:-------------------------------------------|:------------------------------------------|:------------------------------------------| | Revenue | $1,088.0 | $1,078.9 | $3,113.6 | $3,711.7 | | Operating profit | $120.1 | $158.8 | $405.2 | $824.1 | | Income from continuing operations | $112.5 | $128.8 | $369.0 | $617.0 | | Net income attributable to common stockholders | $101.3 | $119.9 | $340.3 | $567.6 | | Basic income per share (continuing ops) | $0.82 | $0.88 | $2.72 | $4.06 | | Diluted income per share (continuing ops) | $0.74 | $0.80 | $2.47 | $3.68 | - Net income attributable to common stockholders decreased by **$18.6 million (15.5%)** for the three months ended September 30, 2024, and by **$227.3 million (40.0%)** for the nine months ended September 30, 2024, compared to the same periods in the prior year[5](index=5&type=chunk) [Unaudited Condensed Consolidated Statements of Comprehensive Income](index=4&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income) This statement presents net income and other comprehensive income components, leading to total comprehensive income for the interim periods | Metric | Three Months Ended Sep 30, 2024 (Millions) | Three Months Ended Sep 30, 2023 (Millions) | Nine Months Ended Sep 30, 2024 (Millions) | Nine Months Ended Sep 30, 2023 (Millions) | |:-------------------------------------------|:-------------------------------------------|:-------------------------------------------|:------------------------------------------|:------------------------------------------| | Net income | $111.5 | $131.3 | $365.7 | $616.9 | | Other comprehensive loss, net of income taxes | $(11.0) | $(14.5) | $(38.9) | $(41.9) | | Comprehensive income | $100.5 | $116.8 | $326.8 | $575.0 | | Comprehensive income attributable to common stockholders | $90.3 | $105.4 | $301.4 | $525.7 | - Comprehensive income attributable to common stockholders decreased by **$15.1 million (14.3%)** for the three months ended September 30, 2024, and by **$224.3 million (42.7%)** for the nine months ended September 30, 2024, compared to the same periods in the prior year[6](index=6&type=chunk) [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) This statement provides a snapshot of the company's assets, liabilities, and equity at specific reporting dates | Metric | September 30, 2024 (Millions) | December 31, 2023 (Millions) | |:-------------------------------------------|:------------------------------|:-----------------------------| | Total current assets | $1,808.0 | $2,019.7 | | Total assets | $5,866.9 | $5,962.1 | | Total current liabilities | $778.6 | $979.0 | | Total liabilities | $2,176.5 | $2,354.6 | | Total stockholders' equity | $3,690.4 | $3,607.5 | - Total assets decreased by **$95.2 million**, and total liabilities decreased by **$178.1 million** from December 31, 2023, to September 30, 2024. Total stockholders' equity increased by **$82.9 million** during the same period[9](index=9&type=chunk) [Unaudited Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) This statement details the cash inflows and outflows from operating, investing, and financing activities for the interim periods | Metric | Nine Months Ended Sep 30, 2024 (Millions) | Nine Months Ended Sep 30, 2023 (Millions) | |:-------------------------------------------|:------------------------------------------|:------------------------------------------| | Net cash provided by operating activities | $486.7 | $753.1 | | Net cash used in investing activities | $(389.6) | $(174.6) | | Net cash used in financing activities | $(268.8) | $(364.5) | | Net change in cash, cash equivalents and restricted cash | $(171.7) | $214.0 | | Cash, cash equivalents and restricted cash at end of period | $1,478.5 | $1,631.6 | - Net cash provided by operating activities decreased by **$266.4 million** for the nine months ended September 30, 2024, compared to the prior year. Net cash used in investing activities increased by **$215.0 million**, primarily due to the Wards Well acquisition and higher capital expenditures[11](index=11&type=chunk)[13](index=13&type=chunk)[239](index=239&type=chunk) [Unaudited Condensed Consolidated Statements of Changes in Stockholders' Equity](index=8&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Stockholders%27%20Equity) This statement outlines changes in equity components, including net income, repurchases, and dividends, for the interim periods | Metric | Three Months Ended Sep 30, 2024 (Millions) | Three Months Ended Sep 30, 2023 (Millions) | Nine Months Ended Sep 30, 2024 (Millions) | Nine Months Ended Sep 30, 2023 (Millions) | |:-------------------------------------------|:-------------------------------------------|:-------------------------------------------|:------------------------------------------|:------------------------------------------| | Total stockholders' equity (End of Period) | $3,690.4 | $3,512.5 | $3,690.4 | $3,512.5 | | Common stock repurchases | $(100.0) | $(91.0) | $(183.1) | $(264.0) | | Net income attributable to common stockholders | $101.3 | $119.9 | $340.3 | $567.6 | | Dividends declared | $(9.5) | $(10.0) | $(28.7) | $(20.9) | - Total stockholders' equity increased from **$3,607.5 million** at December 31, 2023, to **$3,690.4 million** at September 30, 2024. Common stock repurchases totaled **$183.1 million** for the nine months ended September 30, 2024[9](index=9&type=chunk)[16](index=16&type=chunk) [Notes to Unaudited Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed explanations and disclosures supporting the unaudited condensed consolidated financial statements [(1) Basis of Presentation](index=9&type=section&id=(1)%20Basis%20of%20Presentation) This note describes the accounting principles and consolidation policies used in preparing the interim financial statements - The unaudited condensed consolidated financial statements include Peabody Energy Corporation (PEC) and its consolidated subsidiaries and affiliates. Interests in jointly controlled entities are included as a proportionate share of assets, liabilities, revenue, and expenses[18](index=18&type=chunk) - Statements are prepared in accordance with U.S. GAAP for interim financial information and Form 10-Q instructions, and should be read with the 2023 Annual Report on Form 10-K. Management believes all normal, recurring adjustments necessary for fair presentation are reflected[19](index=19&type=chunk) [(2) Newly Adopted Accounting Standards and Accounting Standards Not Yet Implemented](index=9&type=section&id=(2)%20Newly%20Adopted%20Accounting%20Standards%20and%20Accounting%20Standards%20Not%20Yet%20Implemented) This note details recently adopted accounting standards and those pending implementation, assessing their impact on financial reporting - The Company did not adopt any new accounting standards with a material impact on its financial statements or disclosures[20](index=20&type=chunk) - ASU 2023-07 (Segments) requires additional interim disclosures for reportable segments, effective for fiscal years beginning after December 15, 2024. The Company expects only disclosure impacts, no changes to financial results[21](index=21&type=chunk) - ASU 2023-09 (Income Taxes) requires more detailed disclosures on income tax rate reconciliation and taxes paid, effective for fiscal years beginning after December 15, 2024. The Company anticipates only disclosure impacts[22](index=22&type=chunk) [(3) Revenue Recognition](index=9&type=section&id=(3)%20Revenue%20Recognition) This note describes the company's policies for recognizing revenue from various segments and details accounts receivable Revenue by Segment (Three Months Ended September 30, 2024) | Segment | Revenue (Millions) | |:-----------------------|:-------------------| | Seaborne Thermal | $313.2 | | Seaborne Metallurgical | $242.5 | | Powder River Basin | $305.3 | | Other U.S. Thermal | $216.7 | | Corporate and Other | $10.3 | | **Consolidated** | **$1,088.0** | Revenue by Segment (Nine Months Ended September 30, 2024) | Segment | Revenue (Millions) | |:-----------------------|:-------------------| | Seaborne Thermal | $904.6 | | Seaborne Metallurgical | $783.8 | | Powder River Basin | $781.3 | | Other U.S. Thermal | $610.3 | | Corporate and Other | $33.6 | | **Consolidated** | **$3,113.6** | Accounts Receivable, Net (Millions) | Type | September 30, 2024 (Millions) | December 31, 2023 (Millions) | |:---------------------------|:------------------------------|:-----------------------------| | Trade receivables, net | $245.9 | $322.3 | | Miscellaneous receivables, net | $58.3 | $67.4 | | **Accounts receivable, net** | **$304.2** | **$389.7** | [(4) Inventories](index=12&type=section&id=(4)%20Inventories) This note provides details on the composition and valuation of the company's inventory, including raw and saleable coal Inventories, Net (Millions) | Category | September 30, 2024 (Millions) | December 31, 2023 (Millions) | |:------------------------|:------------------------------|:-----------------------------| | Materials and supplies, net | $171.2 | $153.0 | | Raw coal | $116.4 | $105.6 | | Saleable coal | $156.7 | $93.2 | | **Inventories, net** | **$444.3** | **$351.8** | - Total inventories, net, increased by **$92.5 million** from December 31, 2023, to September 30, 2024, primarily driven by an increase in saleable coal and materials and supplies[30](index=30&type=chunk) [(5) Equity Method Investments](index=12&type=section&id=(5)%20Equity%20Method%20Investments) This note details the company's investments accounted for under the equity method, including Middlemount Coal and R3 Renewables - The Company's equity method investments include Middlemount Coal Pty Ltd (Middlemount) and R3 Renewables LLC (R3)[31](index=31&type=chunk) Equity Method Investments (Millions) | Investment | Book Value at Sep 30, 2024 (Millions) | Book Value at Dec 31, 2023 (Millions) | Loss (Income) from Equity Affiliates (9 Months Ended Sep 30, 2024) (Millions) | Loss (Income) from Equity Affiliates (9 Months Ended Sep 30, 2023) (Millions) | |:-----------|:--------------------------------------|:--------------------------------------|:-------------------------------------------------------------------|:-------------------------------------------------------------------| | Middlemount| $47.3 | $42.5 | $(4.1) | $(14.9) | | R3 | $6.6 | $7.1 | $11.2 | $5.2 | - The Company contributed **$10.8 million** to R3 during the nine months ended September 30, 2024, an increase from **$5.5 million** in the prior year period[33](index=33&type=chunk) [(6) Derivatives and Fair Value Measurements](index=12&type=section&id=(6)%20Derivatives%20and%20Fair%20Value%20Measurements) This note describes the company's use of derivative instruments to manage market risks and their fair value measurements - Peabody uses derivative instruments to manage foreign currency exchange rate risk for Australian dollar expenditures and price risk for coal sales/purchases. Trading of coal and freight-related contracts is also conducted on a limited basis[34](index=34&type=chunk)[35](index=35&type=chunk) - As of September 30, 2024, the Company held average rate options with a notional amount of **$531.0 million AUD** and purchased collars with a notional amount of **$468.0 million AUD** to hedge currency risk for anticipated Australian dollar operating expenditures through June 30, 2025[37](index=37&type=chunk) Fair Value of Financial Assets (Millions) | Asset | September 30, 2024 (Millions) | December 31, 2023 (Millions) | |:------------------------------------|:------------------------------|:-----------------------------| | Foreign currency option contracts | $6.4 | $6.2 | | Equity securities | $0.8 | $0.4 | | **Total net assets** | **$7.2** | **$6.6** | [(7) Property, Plant, Equipment and Mine Development](index=16&type=section&id=(7)%20Property,%20Plant,%20Equipment%20and%20Mine%20Development) This note provides details on the company's property, plant, equipment, and mine development assets, including their net carrying value Property, Plant, Equipment and Mine Development, Net (Millions) | Category | September 30, 2024 (Millions) | December 31, 2023 (Millions) | |:---------------------------------------------|:------------------------------|:-----------------------------| | Land and coal interests | $2,624.4 | $2,475.2 | | Buildings and improvements | $658.1 | $647.6 | | Machinery and equipment | $2,021.4 | $1,787.6 | | Less: Accumulated depreciation, depletion and amortization | $(2,290.4) | $(2,066.3) | | **Property, plant, equipment and mine development, net** | **$3,013.5** | **$2,844.1** | - The net value of property, plant, equipment, and mine development increased by **$169.4 million** from December 31, 2023, to September 30, 2024[54](index=54&type=chunk) - Assets with an aggregate carrying value of approximately **$207 million** in the Other U.S. Thermal segment are sensitive to customer concentration risk[55](index=55&type=chunk) [(8) Income Taxes](index=16&type=section&id=(8)%20Income%20Taxes) This note details the company's income tax provision, effective tax rates, and unrecognized tax benefits for the interim periods Income Tax Provision (Millions) | Period | 2024 (Millions) | 2023 (Millions) | |:-------------------------------------------|:----------------|:----------------| | Three Months Ended September 30 | $25.7 | $46.5 | | Nine Months Ended September 30 | $85.2 | $238.7 | - The income tax provision decreased for both the three and nine months ended September 30, 2024, primarily due to lower pretax income. The effective tax rate is based on the estimated full-year rate, with income tax expense primarily related to Australian income due to existing valuation allowances[56](index=56&type=chunk)[170](index=170&type=chunk) - Net unrecognized tax benefits decreased by **$1.3 million** and gross interest and penalties decreased by **$6.1 million** during the nine months ended September 30, 2024, due to the expiration of statutes[57](index=57&type=chunk) [(9) Long-term Debt](index=16&type=section&id=(9)%20Long-term%20Debt) This note provides information on the company's long-term debt, including convertible senior notes and revolving credit facilities Total Indebtedness (Millions) | Debt Instrument | September 30, 2024 (Millions) | December 31, 2023 (Millions) | |:-------------------------------------------|:------------------------------|:-----------------------------| | 3.250% Convertible Senior Notes due March 2028 | $320.0 | $320.0 | | Finance lease obligations | $25.1 | $22.3 | | Less: Debt issuance costs | $(6.6) | $(8.1) | | **Net carrying amount** | **$338.5** | **$334.2** | | Less: Current portion of long-term debt | $14.8 | $13.5 | | **Long-term debt** | **$323.7** | **$320.7** | - The 2028 Convertible Notes, with an aggregate principal amount of **$320.0 million**, mature on March 1, 2028, and bear interest at **3.250%** annually. The conversion rate was adjusted to **51.0440 shares per $1,000 principal amount** effective February 21, 2024[60](index=60&type=chunk)[62](index=62&type=chunk)[63](index=63&type=chunk) - A new **$320.0 million** revolving credit facility was established on January 18, 2024, terminating on January 18, 2028. As of September 30, 2024, **$98.6 million** was utilized for letters of credit, with **$221.4 million** availability[65](index=65&type=chunk)[67](index=67&type=chunk) - The Company was compliant with all debt covenants as of September 30, 2024[71](index=71&type=chunk) [(10) Pension and Postretirement Benefit Costs](index=18&type=section&id=(10)%20Pension%20and%20Postretirement%20Benefit%20Costs) This note details the components of net periodic pension and postretirement benefit costs for the interim periods Net Periodic Pension Cost (Millions) | Component | Three Months Ended Sep 30, 2024 (Millions) | Three Months Ended Sep 30, 2023 (Millions) | Nine Months Ended Sep 30, 2024 (Millions) | Nine Months Ended Sep 30, 2023 (Millions) | |:------------------------------------------|:-------------------------------------------|:-------------------------------------------|:------------------------------------------|:------------------------------------------| | Service cost for benefits earned | $0.1 | $0.1 | $0.1 | $0.1 | | Interest cost on projected benefit obligation | $1.7 | $3.6 | $4.9 | $18.4 | | Expected return on plan assets | $(1.3) | $(3.1) | $(3.7) | $(16.3) | | **Net periodic pension cost** | **$0.5** | **$0.6** | **$1.3** | **$2.2** | Net Periodic Postretirement Benefit Credit (Millions) | Component | Three Months Ended Sep 30, 2024 (Millions) | Three Months Ended Sep 30, 2023 (Millions) | Nine Months Ended Sep 30, 2024 (Millions) | Nine Months Ended Sep 30, 2023 (Millions) | |:----------------------------------------------|:-------------------------------------------|:-------------------------------------------|:------------------------------------------|:------------------------------------------| | Service cost for benefits earned | $0.1 | $0.1 | $0.3 | $0.4 | | Interest cost on accumulated postretirement benefit obligation | $2.3 | $2.6 | $6.9 | $7.6 | | Expected return on plan assets | $(0.1) | $(0.1) | $(0.3) | $(0.4) | | Amortization of prior service credit | $(13.3) | $(13.5) | $(39.8) | $(40.3) | | **Net periodic postretirement benefit credit** | **$(11.0)** | **$(10.9)** | **$(32.9)** | **$(32.7)** | - The Company is not required to make cash contributions to its remaining qualified pension plan in 2024 and does not expect to make discretionary contributions to the VEBA trust[73](index=73&type=chunk)[74](index=74&type=chunk) [(11) Earnings per Share (EPS)](index=19&type=section&id=(11)%20Earnings%20per%20Share%20(EPS)) This note explains the calculation of basic and diluted earnings per share, including potential dilutive effects - Basic EPS is calculated based on weighted average common shares outstanding, while diluted EPS includes the effect of dilutive potential common shares, such as 2028 Convertible Notes and share-based compensation awards[75](index=75&type=chunk)[77](index=77&type=chunk) Diluted EPS Attributable to Common Stockholders | Metric | Three Months Ended Sep 30, 2024 (Dollars) | Three Months Ended Sep 30, 2023 (Dollars) | Nine Months Ended Sep 30, 2024 (Dollars) | Nine Months Ended Sep 30, 2023 (Dollars) | |:-------------------------------------------|:------------------------------------------|:------------------------------------------|:-----------------------------------------|:-----------------------------------------| | Income from continuing operations | $0.74 | $0.80 | $2.47 | $3.68 | | (Loss) income from discontinued operations | — | $0.02 | $(0.03) | — | | **Net income attributable to common stockholders** | **$0.74** | **$0.82** | **$2.44** | **$3.68** | - Diluted EPS decreased by **$0.08 (10%)** for the three months ended September 30, 2024, and by **$1.24 (34%)** for the nine months ended September 30, 2024, compared to the prior year periods[81](index=81&type=chunk) [(12) Financial Instruments and Other Guarantees](index=20&type=section&id=(12)%20Financial%20Instruments%20and%20Other%20Guarantees) This note describes the company's use of financial instruments, surety bonds, and letters of credit to manage risks and support obligations - The Company uses various financial instruments and guarantees, including surety bonds and letters of credit, to support reclamation bonding, lease obligations, and insurance policies. No material losses are expected beyond existing liabilities[82](index=82&type=chunk) Financial Instruments with Off-Balance-Sheet Risk (September 30, 2024, Millions) | Category | Reclamation Support (Millions) | Other Support (Millions) | Total (Millions) | |:---------------------|:-------------------------------|:-------------------------|:-----------------| | Surety bonds | $932.2 | $107.7 | $1,039.9 | | Letters of credit | $55.2 | $103.8 | $159.0 | | **Obligations supported, net** | **$932.2** | **$199.1** | **$1,131.3** | - The Company maintains compliance with a minimum liquidity test (greater of **$400 million** or surety bond penal sum less collateral posted, which was **$507.3 million** at Sep 30, 2024) and a maximum net leverage ratio of **1.5 to 1.0** under its surety agreement[85](index=85&type=chunk) - Restricted cash and collateral totaled **$839.0 million** at September 30, 2024, a decrease of **$118.6 million** during the nine months ended September 30, 2024, due to collateral releases and foreign currency rate changes[97](index=97&type=chunk)[243](index=243&type=chunk) [(13) Commitments and Contingencies](index=23&type=section&id=(13)%20Commitments%20and%20Contingencies) This note outlines the company's purchase commitments, legal proceedings, and other contingent liabilities - Purchase commitments for capital expenditures were **$81.3 million** as of September 30, 2024, all due within the next 12 months[98](index=98&type=chunk) - The Company pled guilty to three charges related to stormwater discharges and plant maintenance at the Metropolitan Mine, with penalties to be determined in November 2024. An immaterial provision was recorded[101](index=101&type=chunk) - Peabody was dismissed without prejudice from the Oregon Climate Change Lawsuit in July 2024[102](index=102&type=chunk) [(14) Segment Information](index=24&type=section&id=(14)%20Segment%20Information) This note provides financial data by reportable segment, including revenue and Adjusted EBITDA, for performance assessment - Peabody reports results through Seaborne Thermal, Seaborne Metallurgical, Powder River Basin, Other U.S. Thermal, and Corporate and Other segments. Adjusted EBITDA is the primary metric for measuring segment performance and allocating resources[104](index=104&type=chunk)[105](index=105&type=chunk) Revenue by Reportable Segment (Millions) | Segment | 3 Months Ended Sep 30, 2024 (Millions) | 3 Months Ended Sep 30, 2023 (Millions) | 9 Months Ended Sep 30, 2024 (Millions) | 9 Months Ended Sep 30, 2023 (Millions) | |:-----------------------|:---------------------------------------|:---------------------------------------|:---------------------------------------|:---------------------------------------| | Seaborne Thermal | $313.2 | $297.4 | $904.6 | $1,043.4 | | Seaborne Metallurgical | $242.5 | $247.0 | $783.8 | $907.9 | | Powder River Basin | $305.3 | $313.0 | $781.3 | $878.0 | | Other U.S. Thermal | $216.7 | $228.2 | $610.3 | $677.5 | | Corporate and Other | $10.3 | $(6.7) | $33.6 | $204.9 | | **Total** | **$1,088.0** | **$1,078.9** | **$3,113.6** | **$3,711.7** | Adjusted EBITDA by Reportable Segment (Millions) | Segment | 3 Months Ended Sep 30, 2024 (Millions) | 3 Months Ended Sep 30, 2023 (Millions) | 9 Months Ended Sep 30, 2024 (Millions) | 9 Months Ended Sep 30, 2023 (Millions) | |:-----------------------|:---------------------------------------|:---------------------------------------|:---------------------------------------|:---------------------------------------| | Seaborne Thermal | $120.0 | $115.5 | $318.2 | $477.0 | | Seaborne Metallurgical | $27.8 | $78.6 | $219.7 | $271.9 | | Powder River Basin | $51.7 | $54.1 | $85.9 | $116.1 | | Other U.S. Thermal | $28.4 | $49.1 | $110.3 | $165.2 | | Corporate and Other | $(3.1) | $(27.3) | $(39.1) | $(11.4) | | **Total** | **$224.8** | **$270.0** | **$695.0** | **$1,018.8** | [(15) Other Events](index=26&type=section&id=(15)%20Other%20Events) This note discloses significant events impacting the company, such as share repurchases, acquisitions, and insurance recoveries - The Company repurchased **7.7 million shares** for **$180.5 million** during the nine months ended September 30, 2024, with **$469.6 million** remaining under the share repurchase program[110](index=110&type=chunk) - The Wards Well acquisition was completed on April 16, 2024, for **$153.4 million**, recorded in 'Property, plant, equipment and mine development, net'. A contingent royalty of up to **$200 million** is payable upon investment recovery and exceeding sales price thresholds[111](index=111&type=chunk)[112](index=112&type=chunk) - Peabody recognized a **$109.5 million** insurance recovery in June 2024 related to the March 2023 Shoal Creek Mine fire, which included **$28.7 million** for property damage and **$80.8 million** for incremental costs and business interruption[114](index=114&type=chunk)[115](index=115&type=chunk)[166](index=166&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=28&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) This section provides an overview of Peabody's business, market conditions for coal, and a detailed analysis of its financial performance for the three and nine months ended September 30, 2024, compared to the prior year. It also discusses non-GAAP financial measures, regulatory updates, liquidity, capital resources, and critical accounting policies [Overview](index=29&type=section&id=Overview) This section provides a general business description, market conditions for coal, and strategic developments - Peabody is a leading producer of metallurgical and thermal coal, operating **17 active coal mining operations** in the U.S. and Australia, including a **50% equity interest** in Middlemount Coal Pty Ltd[128](index=128&type=chunk) - The Company's segments include Seaborne Thermal, Seaborne Metallurgical, Powder River Basin, Other U.S. Thermal, and Corporate and Other[129](index=129&type=chunk) - Global thermal coal prices remained stable, driven by healthy supply meeting elevated demand in Asian markets. Metallurgical coal prices retreated from a high base due to tepid global steel demand, but PCI relativities to coking coal have improved[134](index=134&type=chunk)[135](index=135&type=chunk) - U.S. electricity generation from thermal coal decreased year-over-year due to low natural gas prices and stronger renewable generation, with coal's share declining to approximately **15%** for the nine months ended September 30, 2024[136](index=136&type=chunk) - Redevelopment of the Centurion Mine is advancing, with first coal shipment expected in Q4 2024 and longwall production targeted for Q1 2026. Approximately **$250 million** of the **$489 million** capital expenditures have been completed[137](index=137&type=chunk) [Results of Operations](index=31&type=section&id=Results%20of%20Operations) This section analyzes the company's financial performance, including revenue, costs, and segment-specific results for the interim periods - Income from continuing operations, net of income taxes, decreased by **$16.3 million** for the three months ended September 30, 2024, primarily due to higher operating costs, partially offset by lower taxes and higher revenue[142](index=142&type=chunk) - For the nine months ended September 30, 2024, income from continuing operations decreased by **$248.0 million**, driven by lower revenue (no unrealized mark-to-market gains, lower seaborne coal pricing, U.S. thermal volume decreases), partially offset by lower tax provision, Shoal Creek insurance recovery, and lower operating costs[143](index=143&type=chunk) Total Tons Sold from Operating Segments (Millions) | Segment | 3 Months Ended Sep 30, 2024 (Millions of Tons) | 3 Months Ended Sep 30, 2023 (Millions of Tons) | Change (Tons) (Millions of Tons) | Change (%) | 9 Months Ended Sep 30, 2024 (Millions of Tons) | 9 Months Ended Sep 30, 2023 (Millions of Tons) | Change (Tons) (Millions of Tons) | Change (%) | |:-----------------------|:-----------------------------------------------|:-----------------------------------------------|:---------------------------------|:-----------|:-----------------------------------------------|:-----------------------------------------------|:---------------------------------|:-----------| | Seaborne Thermal | 4.1 | 4.2 | (0.1) | (2)% | 12.2 | 11.8 | 0.4 | 3% | | Seaborne Metallurgical | 1.7 | 1.5 | 0.2 | 13% | 5.1 | 4.8 | 0.3 | 6% | | Powder River Basin | 22.1 | 22.7 | (0.6) | (3)% | 56.6 | 63.6 | (7.0) | (11)% | | Other U.S. Thermal | 4.0 | 4.2 | (0.2) | (5)% | 10.9 | 12.5 | (1.6) | (13)% | | **Total** | **31.9** | **32.6** | **(0.7)** | **(2)%** | **84.8** | **92.7** | **(7.9)** | **(9)%** | Adjusted EBITDA Margin per Ton | Segment | 3 Months Ended Sep 30, 2024 (Dollars per Ton) | 3 Months Ended Sep 30, 2023 (Dollars per Ton) | Change ($) (Dollars per Ton) | Change (%) | 9 Months Ended Sep 30, 2024 (Dollars per Ton) | 9 Months Ended Sep 30, 2023 (Dollars per Ton) | Change ($) (Dollars per Ton) | Change (%) | |:-----------------------|:----------------------------------------------|:----------------------------------------------|:-----------------------------|:-----------|:----------------------------------------------|:----------------------------------------------|:-----------------------------|:-----------| | Seaborne Thermal | $29.20 | $27.70 | $1.50 | 5% | $26.03 | $40.71 | $(14.68) | (36)% | | Seaborne Metallurgical | $16.56 | $51.64 | $(35.08) | (68)% | $27.33 | $56.76 | $(29.43) | (52)% | | Powder River Basin | $2.34 | $2.38 | $(0.04) | (2)% | $1.52 | $1.82 | $(0.30) | (16)% | | Other U.S. Thermal | $7.02 | $11.61 | $(4.59) | (40)% | $10.11 | $13.20 | $(3.09) | (23)% | [Reconciliation of Non-GAAP Financial Measures](index=38&type=section&id=Reconciliation%20of%20Non-GAAP%20Financial%20Measures) This section reconciles non-GAAP financial measures, such as Adjusted EBITDA, to their most directly comparable GAAP measures - Adjusted EBITDA is a non-GAAP measure used by management to assess segment operating performance and allocate resources, excluding items like net interest expense, income taxes, asset retirement obligation expenses, and DDA[175](index=175&type=chunk) Reconciliation of Income from Continuing Operations to Adjusted EBITDA (Millions) | Metric | 3 Months Ended Sep 30, 2024 (Millions) | 3 Months Ended Sep 30, 2023 (Millions) | 9 Months Ended Sep 30, 2024 (Millions) | 9 Months Ended Sep 30, 2023 (Millions) | |:-------------------------------------------|:---------------------------------------|:---------------------------------------|:---------------------------------------|:---------------------------------------| | Income from continuing operations, net of income taxes | $112.5 | $128.8 | $369.0 | $617.0 | | Depreciation, depletion and amortization | $84.7 | $82.3 | $247.4 | $239.2 | | Asset retirement obligation expenses | $12.9 | $15.4 | $38.7 | $46.3 | | Interest expense, net of capitalized interest | $9.7 | $13.8 | $35.1 | $45.5 | | Income tax provision | $25.7 | $46.5 | $85.2 | $238.7 | | **Total Adjusted EBITDA** | **$224.8** | **$270.0** | **$695.0** | **$1,018.8** | Total Reporting Segment Costs (Millions) | Segment | 3 Months Ended Sep 30, 2024 (Millions) | 3 Months Ended Sep 30, 2023 (Millions) | 9 Months Ended Sep 30, 2024 (Millions) | 9 Months Ended Sep 30, 2023 (Millions) | |:-----------------------|:---------------------------------------|:---------------------------------------|:---------------------------------------|:---------------------------------------| | Seaborne Thermal | $193.2 | $181.9 | $586.4 | $566.4 | | Seaborne Metallurgical | $214.7 | $168.4 | $644.9 | $636.0 | | Powder River Basin | $253.6 | $258.9 | $695.4 | $761.9 | | Other U.S. Thermal | $188.3 | $179.1 | $500.0 | $512.3 | | Corporate and Other | $(9.6) | $5.6 | $9.5 | $8.3 | | **Total** | **$840.2** | **$793.9** | **$2,436.2** | **$2,484.9** | [Regulatory Update](index=40&type=section&id=Regulatory%20Update) This section provides updates on environmental regulations and other governmental policies impacting the company's operations - The EPA revised the primary standard for fine particulate matter (PM 2.5) to **9.0 ug/m³**, potentially increasing costs for fossil fuel electric generating units (EGUs) and non-EGUs[186](index=186&type=chunk) - A final EPA rule published May 9, 2024, requires existing fossil fuel-fired steam EGUs operating long-term to comply with a **90% carbon capture and sequestration (CCS) emission rate** by January 1, 2032. EGUs ceasing operations by January 1, 2039, must meet a **40% natural gas co-firing emission rate** by January 1, 2030[189](index=189&type=chunk)[191](index=191&type=chunk) - The U.S. Supreme Court denied a stay of the EPA's final rule on greenhouse gas emissions, but Justices Kavanaugh and Gorsuch expressed strong likelihood of petitioners' success on merits[192](index=192&type=chunk) - New South Wales (NSW) enacted amendments to the Coal Mine Subsidence Compensation Act 2024, strengthening compensation for subsidence damage. The Work Health and Safety Act 2011 (NSW) was amended to include an industrial manslaughter offense with maximum penalties of **$20 million AUD** for corporations or **25 years imprisonment** for individuals[202](index=202&type=chunk)[203](index=203&type=chunk) - The Australian Parliament passed reforms to the National Greenhouse and Energy Reporting (Safeguard Mechanism) Rule 2015, introducing site-specific baseline emissions for heavy emitting facilities with a target of **4.9% annual improvement** to 2030[206](index=206&type=chunk) [Liquidity and Capital Resources](index=46&type=section&id=Liquidity%20and%20Capital%20Resources) This section discusses the company's cash sources and uses, liquidity position, capital expenditures, and cash flow activities - The Company's primary cash sources are coal sales, non-strategic asset sales, and borrowings. Primary uses include coal production costs, capital expenditures, debt service, and post-mining reclamation[213](index=213&type=chunk) Total Liquidity (Millions) | Metric | September 30, 2024 (Millions) | December 31, 2023 (Millions) | |:-------------------------------------------|:------------------------------|:-----------------------------| | Cash and cash equivalents | $772.9 | $969.3 | | Revolving credit facility availability | $221.4 | — | | Accounts receivable securitization program availability | $95.6 | $90.4 | | **Total liquidity** | **$1,089.9** | **$1,059.7** | - Capital expenditures for 2024 are targeted at **$425 million**, an increase from **$375 million**, primarily due to accelerated development at the Centurion Mine and timing of spend at the Wambo Open-Cut Mine[227](index=227&type=chunk) Cash Flows (Nine Months Ended September 30, Millions) | Metric | 2024 (Millions) | 2023 (Millions) | |:-------------------------------------------|:----------------|:----------------| | Net cash provided by operating activities | $486.7 | $753.1 | | Net cash used in investing activities | $(389.6) | $(174.6) | | Net cash used in financing activities | $(268.8) | $(364.5) | | **Net change in cash, cash equivalents and restricted cash** | **$(171.7)** | **$214.0** | - Available Free Cash Flow (AFCF) for the nine months ended September 30, 2024, was **$37.6 million**[183](index=183&type=chunk) [Critical Accounting Policies and Estimates](index=51&type=section&id=Critical%20Accounting%20Policies%20and%20Estimates) This section describes the significant accounting policies and estimates that require management's judgment and impact financial reporting - The Company's financial statements are prepared in accordance with U.S. GAAP, requiring estimates and judgments that affect reported amounts. Critical accounting policies remain unchanged from the 2023 Annual Report on Form 10-K[246](index=246&type=chunk)[248](index=248&type=chunk) - Approximately **$207 million** in assets within the Other U.S. Thermal segment have recoverability sensitive to customer concentration risk[247](index=247&type=chunk) [Newly Adopted Accounting Standards and Accounting Standards Not Yet Implemented](index=51&type=section&id=Newly%20Adopted%20Accounting%20Standards%20and%20Accounting%20Standards%20Not%20Yet%20Implemented) This section refers to Note 2 for details on new and pending accounting standards and their expected disclosure impacts - Refer to Note 2 for details on newly adopted accounting standards and those not yet implemented, which are expected to primarily impact disclosures without affecting consolidated financial results[249](index=249&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=51&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section outlines Peabody's exposure to various market risks, including coal pricing, foreign currency, diesel fuel prices, and interest rates, and describes the strategies employed to manage these risks - As of September 30, 2024, Peabody had approximately **100 million tons** of U.S. thermal coal priced and committed for 2024 (**85 million PRB**, **15 million other U.S. thermal**)[250](index=250&type=chunk) - The Company estimates full-year 2024 thermal coal sales volumes from its Seaborne Thermal segment of **16.0-16.4 million tons** and metallurgical coal sales from its Seaborne Metallurgical segment of **7.2-7.6 million tons**[250](index=250&type=chunk) - Foreign currency hedging instruments (options and collars) limit exposure to a **$0.10 increase** in AUD/USD exchange rate to approximately **$127 million**, while benefiting by approximately **$198 million** for a **$0.10 decrease**, for the next twelve months[252](index=252&type=chunk) - A **$10 per barrel change** in crude oil price would impact annual diesel fuel costs by approximately **$21 million**, based on expected consumption of **85-95 million gallons**[254](index=254&type=chunk) - A **one percentage point decrease** in interest rates would decrease interest income by approximately **$15 million** for the next twelve months, based on interest-earning cash and restricted cash balances at September 30, 2024[257](index=257&type=chunk) [Item 4. Controls and Procedures](index=52&type=section&id=Item%204.%20Controls%20and%20Procedures) The Company's CEO and CFO evaluated disclosure controls and procedures as of September 30, 2024, concluding they were effective in providing reasonable assurance that control objectives were achieved. No material changes to internal control over financial reporting occurred during the quarter - Disclosure controls and procedures were evaluated as effective as of September 30, 2024, providing reasonable assurance that material information is accumulated and communicated to senior management[258](index=258&type=chunk) - No material changes to the Company's internal control over financial reporting occurred during the most recent fiscal quarter[258](index=258&type=chunk) [PART II — OTHER INFORMATION](index=52&type=section&id=PART%20II%20%E2%80%94%20OTHER%20INFORMATION) This section provides additional information on legal proceedings, risk factors, equity sales, mine safety, and other disclosures [Item 1. Legal Proceedings](index=52&type=section&id=Item%201.%20Legal%20Proceedings) This section refers to Note 13, 'Commitments and Contingencies,' in the financial statements for a description of the Company's significant legal and regulatory proceedings - Information on significant legal proceedings is incorporated by reference from Note 13, 'Commitments and Contingencies,' in the unaudited condensed consolidated financial statements[259](index=259&type=chunk) [Item 1A. Risk Factors](index=52&type=section&id=Item%201A.%20Risk%20Factors) This section highlights various risk factors that could materially affect Peabody's results of operations, financial condition, and liquidity, including coal pricing volatility, operational risks, regulatory changes, environmental concerns, and financial market conditions - Key risks include dependence on coal prices, potential termination or adjustment of long-term coal supply agreements, and inherent mining risks that could increase operating costs[261](index=261&type=chunk)[262](index=262&type=chunk) - Regulatory risks, including extensive environmental regulations and concerns about global climate change, could increase costs, limit production, and reduce demand for coal[262](index=262&type=chunk) - Financial risks include the ability to incur more debt, restrictions from debt covenants, and potential impacts from unfavorable lending and investment policies due to environmental and social concerns[263](index=263&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=54&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section details Peabody's share repurchase program and dividend declarations, outlining the amounts and terms of common stock repurchases and dividends paid during the period - The Board of Directors authorized a new **$1.0 billion** share repurchase program on April 17, 2023. As of September 30, 2024, **$530.8 million** had been used to repurchase **23.8 million shares**, with **$469.6 million** remaining available[264](index=264&type=chunk)[265](index=265&type=chunk) - Dividends declared were **$0.075 per share** for the three months and **$0.225 per share** for the nine months ended September 30, 2024. An additional dividend of **$0.075 per share** was declared on October 31, 2024[266](index=266&type=chunk) Share Purchases (Three Months Ended September 30, 2024) | Period | Total Number of Shares Purchased (Shares) | Average Price Paid per Share (Dollars) | |:---------------------------------|:------------------------------------------|:---------------------------------------| | July 1 through July 31, 2024 | 291 | $23.26 | | August 1 through August 31, 2024 | 1,057,013 | $22.50 | | September 1 through September 30, 2024 | 3,374,598 | $22.56 | | **Total** | **4,431,902** | **$22.55** | [Item 4. Mine Safety Disclosures](index=55&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) Peabody's 'Safety and Sustainability Management System' guides its safety, health, and environmental stewardship, aligning with the National Mining Association's CORESafety® framework. The Company continuously monitors safety performance and regulatory compliance, with detailed information on mine safety violations provided in Exhibit 95 - Peabody's 'Safety and Sustainability Management System' is designed to ensure clear expectations for safety, health, and environmental stewardship, aligning with the CORESafety® framework[269](index=269&type=chunk) - The Company monitors its safety performance and regulatory compliance, with specific disclosures on mine safety violations included in Exhibit 95[270](index=270&type=chunk) [Item 5. Other Information](index=55&type=section&id=Item%205.%20Other%20Information) This section states that no directors or executive officers adopted or terminated Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during the three months ended September 30, 2024 - No directors or officers adopted or terminated Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during the three months ended September 30, 2024[271](index=271&type=chunk) [Item 6. Exhibits](index=55&type=section&id=Item%206.%20Exhibits) This section refers to the Exhibit Index for a list of all exhibits filed with this Quarterly Report on Form 10-Q, including certifications, mine safety disclosures, and XBRL documents - The Exhibit Index provides a list of all exhibits, including certifications (31.1, 31.2, 32.1, 32.2), Mine Safety Disclosure (95), and Inline XBRL documents (101.INS, 101.SCH, 101.CAL, 101.DEF, 101.LAB, 101.PRE, 104)[273](index=273&type=chunk)[274](index=274&type=chunk) [EXHIBIT INDEX](index=56&type=section&id=EXHIBIT%20INDEX) The Exhibit Index lists all documents filed as exhibits to the Form 10-Q, including various certifications, mine safety disclosures, and XBRL-related documents - The Exhibit Index includes certifications by the CEO and CFO (31.1, 31.2, 32.1, 32.2), Mine Safety Disclosure (95), and various Inline XBRL documents (101.INS, 101.SCH, 101.CAL, 101.DEF, 101.LAB, 101.PRE, 104)[274](index=274&type=chunk) [SIGNATURE](index=57&type=section&id=SIGNATURE) The report is duly signed on behalf of Peabody Energy Corporation by Mark A. Spurbeck, Executive Vice President and Chief Financial Officer, on November 8, 2024 - The Quarterly Report on Form 10-Q was signed by Mark A. Spurbeck, Executive Vice President and Chief Financial Officer, on November 8, 2024[275](index=275&type=chunk)

Coal Industry Overview - The Zacks Coal industry comprises companies involved in the discovery and mining of coal, which is used worldwide for electricity generation, steel, and cement production [2] - The U S has an estimated 252 billion short tons of recoverable coal reserves, with 58% being underground mineable coal [2] - Five U S states contribute 70% of annual coal production and 60% of surface mining production [2] - Coal demand is declining due to increased renewable energy usage and the gradual shutdown of coal-powered generation units [2] Industry Trends - U S coal production is projected to decline by 13 1% in 2024 and 5 2% in 2025, reaching 485 million short tons [3] - Coal prices are expected to decrease by 1 6% in 2024 and 2 1% in 2025, reaching $2 43 per million British thermal units [3] - U S coal exports are projected to drop by 2 4% in 2025 after a 5 1% increase in 2024 [3] - Global steel demand is forecasted to drop by 0 9% in 2024 but increase by 1 2% in 2025, impacting coal exports [3] Emission Policies and Reliability - Coal remains a reliable energy source for 24x7 electricity production, but emission concerns are reducing its usage [4] - The U S aims for 100% carbon pollution-free electricity by 2030 and net-zero emissions by 2050, leading to reduced coal usage [4] - Coal's share in U S electricity generation is expected to drop from 17% in 2023 to 16% in 2024 and 2025 [4] - 12 GW of coal-fired electricity generating capacity is set to retire, with coal-fired units becoming backup options [4] Interest Rate Impact - The U S Federal Reserve lowered the benchmark rate by 50 basis points to 4 75%-5%, benefiting capital-intensive coal companies [5] - Lower interest rates support coal operators planning infrastructure upgrades and expansions [5] Industry Performance and Valuation - The Zacks Coal industry has outperformed the Zacks Oil and Gas sector and S&P 500, gaining 37 9% over the past year [10] - The industry is trading at a trailing 12-month EV/EBITDA of 5 55X, compared to the S&P 500's 17 77X and the sector's 3 41X [11] - The industry's earnings estimates for 2024 have declined by 6 2% since November 2024, reflecting reduced confidence in growth potential [8] Key Coal Stocks - **CONSOL Energy (CEIX)**: Produces and exports thermal and metallurgical coal, with 2025 earnings and revenue expected to rise by 31 8% and 112 1%, respectively [14][15] - **Peabody Energy (BTU)**: Engages in thermal and metallurgical coal mining, with 2024 and 2025 earnings per share estimates increasing by 1 3% and 3 7%, respectively [15][16] - **Warrior Met Coal (HCC)**: Produces metallurgical coal for the steel industry, with a 62 1% stock gain over the past year and plans to invest $435-$500 million in 2024 [18][19] - **SunCoke Energy (SXC)**: Focuses on coke making and logistics, with a 38 3% year-over-year increase in 2024 earnings per share and a 4 36% dividend yield [20][21]