Peabody Energy Reports Mixed Financial Performance and Expands Coal Operations

Peabody Energy Corporation, a leading coal producer, reported its financial results in its 10-K filing, showcasing a year of mixed performance. The company's common stock, with a par value of $0.01 per share, had 121,747,873 shares outstanding as of February 13, 2026. The aggregate market value of the voting and non-voting common equity held by non-affiliates was approximately $1.2 billion as of June 30, 2025. The company operates 16 active coal mining operations in the United States and Australia, and is advancing the development of the Centurion Mine in Queensland, Australia, with full-scale longwall production commencing in February 2026.

Peabody's operations are divided into four reportable segments: Seaborne Thermal, Seaborne Metallurgical, Powder River Basin, and Other U.S. Thermal. The company's sales backlog, including coal supply agreements subject to price reopener and/or extension provisions, was approximately 238 million tons of coal as of January 1, 2026, compared to 153 million tons as of January 1, 2025. These contracts have remaining terms ranging from one to seven years and represent approximately two years of production based on the company's 2025 production volume of 120.3 million tons. Approximately 64% of its backlog is expected to be filled beyond 2026.

The company faces competition from various sources of energy, including natural gas, oil, nuclear, hydro, wind, solar, and biomass. Peabody had approximately 5,400 employees as of December 31, 2025, with approximately 3,500 located in the U.S. and the remainder primarily in Australia. The company achieved a global safety incidence rate of 0.71 incidents per 200,000 hours worked in 2025, an all-time record for the lowest incidence rate in Peabody’s history.

Peabody is subject to extensive regulations in the U.S. and Australia, including those related to employee health and safety, permitting and licensing requirements, air quality standards, water pollution, plant and wildlife protection, and reclamation of mining properties. The company's total reclamation bonding requirements in the U.S. were $878.6 million as of December 31, 2025, while its reclamation bonding requirements in Australia were $346.1 million. The company is also subject to risks related to global climate change, including reduced utilization of coal-fired electricity generating plants, increased regulatory compliance costs, and potential physical impacts of climate change such as disruptions to production and water supplies.