Peabody Energy (BTU) Q4 2024 earnings summary

Executive summary

• Achieved strong Q4 and full-year 2024 results despite geologic and pricing challenges, with net income of $30.6M for Q4 and $370.9M for the year, and set records for safety and environmental performance, reducing reclamation bonding obligations by over $100M.

• Shipped first coal from Centurion Mine ahead of schedule, advanced acquisition of four premium hard coking coal mines from Anglo American, and entered a renewable energy partnership with RWE.

• Returned $221M to shareholders in 2024 and set a company record for lowest accident rates.

• Reclaimed 70% more land than disturbed, freeing up over $100M in reclamation bonding obligations.

Financial highlights

• Q4 net income attributable to common stockholders was $30.6M ($0.25/share); adjusted EBITDA was $176.7M, including a $41.4M non-cash FX charge.

• Full-year net income was $370.9M; adjusted EBITDA reached $871.7M.

• Q4 2024 revenue: $1,123.1M; full-year 2024 revenue: $4,236.7M.

• Generated $613M in operating cash flow for 2024; returned $221M to shareholders via buybacks and dividends.

• Ended 2024 with $700M in cash and $1.1B in available liquidity.

Outlook and guidance

• 2025 guidance excludes Anglo American acquisition until completion; seaborne thermal volumes expected to decline due to Wilpinjong reduction and Wambo Underground closure.

• Seaborne met volumes projected to rise by over 1M tons to 8.5M, driven by Shoal Creek and Centurion ramp-up.

• PRB shipments forecasted at 72–78M tons, with costs flat at $12–$12.75/ton; other U.S. thermal volumes at 14M tons.

• 2025 capital expenditures estimated at $450M, with $280M for Centurion development.

• Q1 2025: Seaborne Thermal volume expected at 4.0M tons (2.5M export), costs $45–$50/ton; Seaborne Metallurgical Q1 volume: 2.0M tons, costs $125–$135/ton.