BTU - Peabody after the call - buy a business any fool can run

Economic forces currently underpinning the thermal coal industry are better than at any point in recent history. An economic and military war involving the world's largest producer of energy has led to shortages of oil, oil products, natural gas and coal around the world. Following years of declining thermal coal demand, the IEA now expects consumption to rise through 2025. And that IEA demand forecast was published before war in Ukraine threatened to restrict Russian supplies.  Given the backdrop, investors could be surprised to find the largest thermal coal producer in the US, Peabody (NYSE:BTU), trading at ~2.5x 2022 earnings estimates. Arch (ARCH) and Alliance (ARLP), having already reported Q1 results, each flagged accelerating volumes, increased long-term demand, record profitability and higher pricing. Being sellers of fuel, in a world short energy, both companies capitalized on the opportunity; Arch (ARCH) shares have risen ~40% since reporting earnings earlier in the

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Peabody after the call - buy a business any fool can run