The company’s net income for the quarter increased to $US95.3 million from $US41.5 million in the same period in the previous year, and first half net income rose 129% to $US147.1 million. Additionally, Peabody’s quarterly operating profit was $US129.3 million, a 150% jump.
Peabody’s second quarter, ending June 30, also saw a 21% increase in revenue, to $US1.11 billion, over the year before.
“Coal markets are extremely strong, demand is running at record levels, customer inventories are at an all-time low, and our operations are in an excellent position to meet growing customer demand,” said Peabody president Gregory Boyce. “All of this translates into a very positive growth profile for Peabody’s future earnings and cash flows.”
Peabody Energy is the largest private-sector coal company in the world, fueling more than 10% of all US electricity and 3% of worldwide generation.
