Peabody’s Q3 numbers underwhelmed, with earnings coming in well below expectations as pricing and margins across key divisions softened.
- 3Q Revenue fell 7% YoY to US$1.01b.
- 3Q Adjusted EBITDA was US$99.5m, down 56% YoY and missing consensus of US$117m
- Cash: US$603m (–22% YoY)
Guidance was marginally firmer on volume across thermal and met coal divisions, but pricing remains under pressure. We covered the stock in more detail recently (here).
MM remains long and bullish BTU US
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