Peabody Energy slides on worse than expected Q4 loss
Peabody Energy (NYSE:BTU) -6.4% premarket after falling far short of expectations for Q4 earnings and reducing its quarterly dividend to $0.0025/share.
For 2015, BTU expects sales volumes of 245M-265M tons with U.S. operations seeing a 2%-4% decline in revenues/ton and costs/ton; expects Australia metallurgical coal sales of 15M-16M tons, export thermal sales of 12M-13M tons, and cost/tons lower by 2%-4%.
Plans $180M-$200M in 2015 capex, mostly allocated to sustaining capital items; specific projects include the Gateway North extension to replace production from the existing operation, and the Wolf Creek development in Colorado.
For Q1 2015, BTU targets adjusted EBITDA of $160M-$200M and an EPS loss of $0.39-$0.32