Edition:
United Kingdom

Peabody Reports Qtrly Shr From Cont. Ops of $0.93


Tuesday, 24 Jul 2018 

July 24 (Reuters) - Peabody Energy Corp ::PEABODY REPORTS EARNINGS FOR QUARTER ENDED JUNE 30, 2018.Q2 EARNINGS PER SHARE $0.93 FROM CONTINUING OPERATIONS.Q2 REVENUE $1.31 BILLION.Q2 EARNINGS PER SHARE VIEW $-7.63 -- THOMSON REUTERS I/B/E/S.PEABODY INCREASES DIVIDEND TO $0.125 PER SHARE.QTRLY EARNINGS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS $0.90.SAYS "VIGOROUS" SEABORNE THERMAL DEMAND LED TO FURTHER STRENGTHENING IN SEABORNE THERMAL COAL PRICING DURING QUARTER.QTRLY TONS SOLD 43.1 MILLION TONS VERSUS 43.6 MILLION TONS.SAYS INDIA'S DOMESTIC COAL PRODUCTION HAS ALSO BEEN UNABLE TO KEEP PACE WITH GROWING ELECTRICITY DEMAND.SAYS IN U.S., INDUSTRY CONDITIONS REMAIN CHALLENGED AS UTILITY COAL CONSUMPTION DECLINED.SAYS EXPECTS TREND OF INCREASE IN ASEAN IMPORTS TO CONTINUE.SAYS WHILE DOMESTIC DEMAND HAS WEAKENED, U.S. EXPORTS HAVE CONTINUED TO BENEFIT FROM STRONG SEABORNE PRICING.SAYS PEABODY TIGHTENED ITS ANNUAL PRB VOLUME GUIDANCE RANGE TO 115 MILLION TONS TO 120 MILLION TONS.SAYS DESPITE CONTINUED STRENGTH IN CHINESE STEEL PRODUCTION, METALLURGICAL COAL IMPORTS DECLINED ABOUT 7 MILLION TONNES YEAR-TO-DATE THROUGH JUNE.SAYS PEABODY ENERGY SAYS AS EXPECTED, INDIA "CONTINUES TO LEAD" GROWTH IN METALLURGICAL COAL DEMAND.SAYS HAS YET TO BE IMPACTED BY DELAYS IN RAIL SERVICES IN AUSTRALIA.SAYS Q3 AUSTRALIAN EXPORT THERMAL VOLUMES EXPECTED TO CONTINUE TO INCREASE SEQUENTIALLY, WITH Q4 ANTICIPATED TO BE ITS STRONGEST SHIPPING QUARTER.