Summary Box: Coal-mining Peabody's profits dip

AP News
Posted: Apr 19, 2012 4:19 PM
Summary Box: Coal-mining Peabody's profits dip

THE SHOWING: Coal-mining Peabody Energy Corp. said Thursday its first-quarter profit dipped on weaker U.S. coal demand. The earnings still beat Wall Street's expectations.

THE NUMBERS: The world's biggest private-sector coal company said its net income was $172.7 million, or 63 cents per share, down from $176.6 million, or 65 cents, a year earlier. Revenue rose 17 percent to $2.04 billion.

THE OUTLOOK: The company forecast second-quarter earnings at 40 to 65 cents per share, reflecting lower prices for coal. Peabody also cut its expected U.S. volume to a range of 185 million to 195 million tons.