On April 22, St. Louis, US-based coal giant Peabody Energy Corp. issued its financial results for the first quarter of 2010, stating that the results demonstrate the power of the company's global platform, with expanded contributions from both US and Australian operations.
According to the financial results, the net profit of the company was $133.7 million in the first quarter of 2010, compared with a net profit of $170 million in the first quarter of 2009, decreasing 21 percent. Sales revenues in the first quarter of 2010 saw an increase of five percent, rising from $1.45 billion in the previous year to $1.52 billion. The EBITDA of the company was $357.2 million in the first quarter of 2010, compared with an EBITDA of $325.4 million in the first quarter of 2009, increasing 10 percent.
Peabody chairman and CEO Gregory H. Boyce said on the company's outlook, "We anticipate higher revenues and earnings from new contract settlements and rising metallurgical coal volumes in Australia, increased throughput from the new NCIG terminal, and contributions from the new Bear Run Mine in the Midwestern US."