Peabody posts $206.2 million net profit in Q2 2010

Monday, 26 July 2010 14:21:59 (GMT+2)

On July 20, St. Louis, US-based coal giant Peabody Energy Corp. issued its financial results for the second quarter of 2010, commenting that the company delivered another quarter of outstanding results, with expanded margins and cash flows driven by both its Australian and US mining operations.
 
According to the financial results, the net profit of the company was $206.2 million in the second quarter of 2010, compared with a net profit of $79.2 million in the second quarter of 2009, increasing 160 percent, and with $133.7 million in the first quarter of 2010, increasing 54 percent.

Sales revenues in the second quarter of 2010 saw an increase of 24 percent year on year and of nine percent quarter on quarter, rising from $1.34 billion in the previous year and $1.52 billion in the previous quarter to $1.66 billion.

The EBITDA of the company was $440.4 million in the second quarter of 2010, compared with an EBITDA of $326.2 million in the first quarter of 2009, increasing 35 percent, and with an EBITDA of $357.2 million, increasing 23 percent.

The company sold 59.7 million mt of coal in the second quarter of 2010 compared with 58.3 million mt in the previous quarter and 59.4 million mt in the same quarter of 2009.

Peabody chairman and CEO Gregory H. Boyce said on the company's outlook, "Our global platform is expected to continue to capitalize on rising volumes and prices, and the continuation of our strong operating performance. We expect second half results to be stronger than the first."

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