Peabody Energy Corp. BTU, +10.34% said Monday it expects to report third-quarter revenue of $670 million to $690 million, net of $238 million of unrealized mark-to-market losses from hedges. The FactSet revenue consensus was $876.8 million. Shares of the coal producer shot up 3.7% in premarket trading. The company said it expects after-tax net loss from continuing operations of $55 million to $75 million, while coal sales to customers were more than $900 million to reached the highest level in seven quarters. The company is expected to report full third-quarter results on Oct. 28, with analysts surveyed by FactSet expecting Peabody to swing to earnings of 83 cents a share from a loss of 66 cents a year ago. The stock has rocketed 562.2% year to date through Friday, while the S&P 500 SPX, -0.11% has gained 19.0%.
View Article Origin Here
