On October 19, St. Louis, US-based coal giant Peabody Energy Corp. issued its financial results for the second quarter of 2010, reporting high prices of both thermal and hard coking coal.
According to the financial results, the net profit of the company was $236.3 million in the third quarter of 2010, compared with a net profit of $110.8 million in the third quarter of 2009 and with $214.2 million in the second quarter of 2010.
Sales revenues in the third quarter of 2010 rose from $1.67 billion in the same period of the previous year and $1.66 billion in the previous quarter to $1.86 billion.
Third quarter 2010 EBITDA of $571.3 million compares with $440.1 million in the previous quarter and $341.1 million in the same period of last year.
The company sold 64 million mt of coal in the third quarter of 2010 compared with 59.7 million mt in the previous quarter and 63.5 million mt in the same quarter of 2009.
Commenting on hard coking coal prices, Peabody said, "The current quarterly price for high quality hard coking coal was set at $209 per tonne. Strong demand has maintained quarterly prices between $200 and $225 per tonne since April, meaningfully higher than the prior year's $129 per tonne annual pricing."