BTU - Peabody Energy pushes higher after strong Q4 beat

Peabody Energy ( NYSE: BTU ) +5.9% pre-market Tuesday after easily beating expectations for Q4 GAAP earnings and revenues , while generating record quarterly free cash flow of $580M.

Q4 net income totaled $632M, or $3.92/share, including a $199.3M unrealized mark-to-market gain related to coal hedging activities, compared to $513M, or $3.93/share, in the year-earlier quarter; Q4 adjusted EBITDA rose to $500.5M, ahead of $493.3M analyst consensus estimate and $444.4M reported in the same quarter last year.

Q4 Seaborne Thermal segment shipments rose to 4.1M tons from 3.7M tons in Q3, although the average export realized price fell 19% to $151.61/ton, primarily due to higher hedged ton settlements compared to the prior quarter.

Q4 Seaborne Met segment shipments rose to 2M tons from 1.8M tons in Q3, and the average realized price increased 22% to $219.81/ton.

Q4 Powder Riven Basin shipments fell to 21.2M tons from 22.3M in Q3, as severe winter weather caused rail disruptions, with the average realized price rising 7% to $13.88/ton.

Q4 Other U.S. Thermal segment shipments rose to 5M tons from 4.8M tons in Q3, with the average realized price falling 4% to $52.35/ton.

The company said it retired all senior secured debt during the quarter, and is "actively addressing the remaining requirements to implement a shareholder return program."

Peabody Energy ( BTU ) shares have gained 5% so far this year and 46% during the past year .

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