Peabody has strong Q1, plans more production cuts

摘要

Peabody produced a strong first quarter performance but has announced further production cuts and again declined to provide full-year financial targets as the economic downturn continues to bite. The company declared gross earnings (EBITDA) of 325.4 million dollars in the March quarter, up 15.6 percent on 281.6 million dollars in the same quarter last year. This was based on revenue of 1.46 billion dollars, up 15.32 percent on 1.27 billion dollars previously. Gross earnings from Australian operations leapt over 1,000 percent to 83.2 million dollars, from just 7 million dollars in the March 2008 quarter. Its US mining operations lifted gross earnings to 250.3 million dollars, up 30.5 percent on 191.7 million dollars previously.