https://newsletter.mw.creamermedia.com
Coal|Energy
Coal|Energy
coal|energy

Peabody slumps as production issues, weather crimp revenue

12th April 2024

By: Bloomberg

  

Font size: - +

Shares of Peabody Energy slumped after the biggest US coal miner warned that first-quarter sales will be lower than expected due to production issues at mines in Australia and weak demand in the US.

The company expects to report revenue of $980-million for the quarter, according to a statement Thursday. Analysts had been expecting revenue of $1.03-billion for the current period. The shares fell 6.4% before the start of regular trading in New York.

Peabody said warm winter weather in the US crimped demand for coal from utilities, while production issues at some mines in Australia reduced output. It also reported lower prices for some metallurgical coal.

“Our first quarter included some unforeseen production challenges that are now behind us,” Peabody CEO Jim Grech said in the statement.

Edited by Bloomberg

Comments

 

Showroom

Avlock International
Avlock International

Avlock International is a leading manufacturer and distributor of Specialized Fastening Systems.

VISIT SHOWROOM 
BOVA Safety Wear
BOVA Safety Wear

BOVA cemented their reputation in Africa by delivering high quality engineering through their range of safety footwear. 21 years after producing...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Minerals Council South Africa CEO Mzila Mthenjane
Minerals Council optimistic about ongoing MPRDA review
13th December 2024 By: Marleny Arnoldi
Magazine round up | 13 December 2024
Magazine round up | 13 December 2024
13th December 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.17 0.255s - 143pq - 2rq
Subscribe Now