BTU - Peabody Energy poised for strong open as EBITDA revenues beat estimates

Peabody Energy ( NYSE: BTU ) +9.2% pre-market Thursday after swinging to a Q3 profit , and beating analyst expectations for adjusted EBITDA and revenues.

Q3 net income swung to a profit of $375.1M, or $2.33/share, compared to a net loss of $44.2M, or a $0.38/share loss in the prior-year quarter.

Q3 adjusted EBITDA rose to $438.9M, above $421M analyst consensus estimate as well as $289.1M in the year-earlier quarter, and Q3 operating cash flow soared to $494.7M from $4.4M in the same quarter last year.

Tons sold in the quarter totaled 32.7M tons, more than 4M tons above Q2 levels; seaborne thermal sold 3.7M tons, seaborne metallurgical sold 1.8M tons, Powder River Basin sold 22.3M tons, other U.S. thermal sold 4.8M tons.

Peabody ( BTU ) said it has begun the initial steps to redevelop the North Goonyella mine, a hard-coking coal longwall operation in Australia with more than 70M tons of reserves.

"Coal prices remain at levels that result in a favorable outlook for each of our operating segments," President and CEO Jim Grech said.

Peabody Energy's ( BTU ) stock price return shows a 104% YTD gain and a 101% increase during the past year .

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