Peabody Energy NYSE: BTU reported Q-4 and FY 2012 results Tuesday
Peabody Energy NYSE: BTU reported Q-4 and FY 2012 results Tuesday
BTU, ANR, ACI, CNX, JRCC, WLT, CLD
Peabody Energy Corp. reported Q-4 and FY 2012 results Tuesday that were bad, but not bad in context. At least that’s what everyone thought when the company’s shares about about 4% on a loss of just over $1-B.
Peabody forecast higher costs in Australian operations and lower sales and pricing in the US in Q-1. The company sold 248.5-M tons of Coal last year, near the high end of its Y 2013 forecast of 230 to 250-M tons.
Peabody expects US Coal shipments to rise as natural gas costs rise and power plants switch back to coal-fired generation. The problem with that conclusion is that Nat Gas prices have been falling again too.
After digesting the data, investors bid the stock 5%+ Wednesday and taken the other coal miners along.
Alpha Natural Resources Inc. (NYSE: ANR) is down about 2.9% today,
Arch Coal Inc. (NYSE: ACI) is down 3.8%, Consol Energy Inc.
(NYSE: CNX) about 1%, James River Coal Co. (NASDAQ: JRCC) is down about 4.4%,
Walter Energy Inc. (NYSE: WLT) about 1.8%, and Cloud Peak Energy Inc. (NYSE: CLD) is down 2.2%.
Consol Energy said earlier this month that it would change the focus of its capital investments to Nat Gas production and will invest twice as much in gas as it will in Coal. That news dragged down Coal stocks. The Coal sector is having trouble finding a Silver Lining in here.
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