BTU - Peabody Q1 results - management watches the cycle walk by

Peabody (NYSE:BTU) reported Q1 results ahead of the market open Thursday, missing earnings estimates by a very wide margin, flagging continued operational challenges in Australia and posting record collateral on derivative positions. Management has taken several controversial decisions in 2022, including issuing convertible debt, raising 10% unsecured debt to post collateral, and entering into solar ventures. While Arch (ARCH) and Alliance (ARLP) announced record earnings and improved outlooks, Peabody (BTU) management appears unable to capture the benefits of improving end-market demand:  Earnings - Peabody (BTU) posted an 88c per share loss for Q1, versus expectations for $2.20 of earnings; adding back charges for unrealized derivative losses ($2.20) and losses linked to the early extinguishment of debt (17c), adjusted earnings were closer to $1.50 per share. Outlook - as rail service improves in the US and weather and staffing related challenges in Australia abate, the Company anticipates improved sales volumes across all

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Peabody Q1 results - management watches the cycle walk by