Peabody Energy Corporation reported a revenue of $937.0 million for the first quarter of 2025, a decrease of 4.7% from $983.6 million in the same period of 2024. The company's operating profit also fell to $31.9 million, down from $51.2 million year-over-year. Net income attributable to common stockholders was $34.4 million, or $0.27 per diluted share, compared to $39.6 million, or $0.29 per diluted share, in the prior year. The decline in revenue and profitability was primarily attributed to lower seaborne coal pricing, which negatively impacted revenue by approximately $46.6 million.
In terms of operational performance, Peabody sold 28.9 million tons of coal during the first quarter of 2025, a 5.5% increase from 27.4 million tons in the same quarter of 2024. The increase in sales volume was driven by a 10% rise in seaborne thermal coal sales and a 29% increase in seaborne metallurgical coal sales. However, the average revenue per ton decreased across all segments, with seaborne thermal coal revenue per ton dropping by 15% and seaborne metallurgical coal by 27%. The company’s total segment costs also decreased to $767.3 million from $799.1 million, reflecting a reduction in operating costs.
Strategically, Peabody is in the process of acquiring a portion of Anglo American's metallurgical coal portfolio in Australia, which includes several key mining assets. The acquisition, valued at up to $3.788 billion, is expected to enhance Peabody's operational footprint in the metallurgical coal market. However, the company recently notified Anglo and its partner BUMA of a Material Adverse Change related to the Moranbah North Mine, which may impact the acquisition's timeline and terms.
Peabody's balance sheet as of March 31, 2025, showed total assets of $5.783 billion, down from $5.954 billion at the end of 2024. The company maintained a cash and cash equivalents balance of $696.5 million, with total liquidity increasing to $1.087 billion. Peabody's total debt stood at $347.2 million, with compliance to all relevant covenants under its debt agreements. Looking ahead, Peabody anticipates continued challenges in the coal market, particularly with fluctuating prices and demand, but remains focused on operational efficiency and strategic growth through acquisitions.
About PEABODY ENERGY CORP
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