The world's largest private-sector coal company attributed the positive expectation yesterday to strong cost improvements and operating results in the face of market challenges.
“Our operations are performing well as we experienced higher-than-expected results from the western United States, improved performance from Australian metallurgical coal mines and continued cost reductions across the platform,” Peabody chairman and CEO Gregory Boyce said.
Peabody also updated Q3 2014 adjusted diluted earnings per share targets to 69c from 63c, which the company said primarily reflected the effects of non-cash tax expense following the repeal of the Minerals Resource Rent Tax in Australia.
The company expects to announce Q3 results and hold a conference call with management on October 20.
