Peabody(US:BTU)2025-05-06 11:45Financial Performance - Peabody reported net income of $34.4 million, or $0.27 per diluted share, for Q1 2025, down from $39.6 million, or $0.29 per diluted share, in Q1 2024[1]. - Adjusted EBITDA for Q1 2025 was $144 million, compared to $160.5 million in the prior year quarter[1]. - Revenue for Q1 2025 was $937.0 million, a decrease of 16.5% from $1,123.1 million in Q4 2024 and a decrease of 4.7% from $983.6 million in Q1 2024[21]. - Adjusted EBITDA for Q1 2025 was $144.0 million, a decrease of 18.5% from $176.7 million in Q4 2024 and a decrease of 10.2% from $160.5 million in Q1 2024[30]. - Operating profit for Q1 2025 was $31.9 million, down 20.5% from $40.1 million in Q4 2024 and down 37.7% from $51.2 million in Q1 2024[21]. - Total segment costs for Q1 2025 were $767.3 million, down 18.2% from $938.1 million in Q4 2024[30]. Sales and Volume - Tons sold in Q1 2025 were 28.9 million, down 12.7% from 33.1 million in Q4 2024 and up 5.5% from 27.4 million in Q1 2024[21]. - Seaborne Thermal Adjusted EBITDA totaled $84.2 million with an Adjusted EBITDA margin of 32%, despite an 18% reduction in realized prices from Q4 2024[5]. - Powder River Basin Adjusted EBITDA reached $36.3 million, with tons sold at 19.6 million and an Adjusted EBITDA margin of 13%[7]. - Other U.S. Thermal Adjusted EBITDA was $32.9 million, with tons sold at 3.1 million and an Adjusted EBITDA margin of 20%[8]. - The company anticipates Q2 2025 U.S. Thermal volume of 19 million tons at an average price of $13.80 per ton[13]. Revenue Breakdown - Seaborne Thermal revenue decreased to $265.1 million in Q1 2025 from $309.3 million in Q4 2024, representing a decline of 14.2%[30]. - Total U.S. Thermal revenue was $444.3 million in Q1 2025, down 16.1% from $529.8 million in Q4 2024[30]. - Seaborne Metallurgical revenue fell to $220.1 million in Q1 2025 from $271.8 million in Q4 2024, a decrease of 19.0%[30]. - Adjusted EBITDA for Seaborne Thermal was $84.2 million in Q1 2025, a decrease of 24.8% from $111.8 million in Q4 2024[30]. Balance Sheet and Liquidity - Peabody's balance sheet remains strong with a cash positive net-debt position and over $1 billion in liquidity[9]. - Total current assets decreased to $1,672.4 million as of March 31, 2025, from $1,780.7 million as of December 31, 2024[24]. - Total assets decreased to $5,783.7 million as of March 31, 2025, from $5,953.7 million as of December 31, 2024[24]. - Total liabilities decreased to $2,068.6 million as of March 31, 2025, from $2,244.9 million as of December 31, 2024[24]. - Cash and cash equivalents at the end of Q1 2025 were $1,383.8 million, a slight increase from $1,382.6 million at the end of Q4 2024[25]. - Net cash provided by operating activities in Q1 2025 was $119.9 million, compared to $119.8 million in Q4 2024[25]. Strategic Outlook - The company anticipates continued market challenges and has outlined a cautious outlook for the upcoming quarters[35]. - Future strategic investments and potential acquisitions are being considered to enhance operational efficiency and market position[35]. - Peabody signed a seven-year contract to supply 7 to 8 million tons of coal annually to Associated Electric Cooperative, Inc.[4]. - The Centurion Mine is ahead of its target with 500,000 tons of sales expected in 2025, progressing towards longwall production in Q1 2026[9].