BTU - BTU Q4 results -- seaborne met market carries the day in 2022 outlook

Peabody (NYSE:BTU) reported earnings ahead of the market open, beating estimates, flagging Q4 dilution, and guiding to a blowout 2022 on the back of higher seaborne met coal pricing.  Earnings - Peabody posted $3.90 in continuing earnings per share in the quarter, beating Wall Street's estimate of $1.34; EBITDA came in at $444m versus street at $359m. Cash flow - the Company generated $427m in free cash flow during the quarter, ~25% of the Company's current market cap, and retired an additional $200m of secured notes. Equity issuance - during the quarter the Company issued ~11m shares (~9% of shares outstanding), with 3.3m issued in debt-for-equity exchanges, and 7.7m issued in a previously announced "at the market" equity offering program for ~$12/s. PRB outlook - at PRB, the Company anticipates higher volumes in 2022 following one-time investments in production capacity; costs are expected to rise ~75c/t, while sales prices are

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BTU Q4 results -- seaborne met market carries the day in 2022 outlook