Peabody Reports Results For Quarter Ended March 31, 2025

About this update from Peabody Energy Corporation

Strong First Quarter Results on Favorable Cost Performance & Seaborne Thermal Volumes Centurion Development Continuing Progress Toward Q1 2026 Longwall Production Peabody Signs Multi-Year Contract to Provide Coal to Midwestern Generating Stations ST. LOUIS , May 6, 2025 /PRNewswire/ -- Peabody (NYSE: BTU) today reported net income attributable to common stockholders of $34.4 million , or $0.27 per diluted share, for the first quarter of 2025, compared to $39.6 million , or $0.29 per diluted share in the prior year quarter.  Peabody had Adjusted EBITDA 1 of $144.0 million in the first quarter of 2025 compared to $160.5 million in the prior year quarter. "Peabody is off to a strong start in 2025, controlling the controllables with solid volumes and great cost management that mitigated impacts of cyclically low seaborne coal prices," said Peabody President and CEO Jim Grech . "All segments continue to generate favorable Adjusted EBITDA, and our low-cost U.S. operations benefit from both a positive policy backdrop and good supply/demand fundamentals." Highlights   First Quarter Segment Performance    Seaborne Thermal Adjusted EBITDA totaled $84.2 million for the first quarter on Adjusted EBITDA margins of 32 percent, despite an 18 percent reduction in realized prices from the fourth quarter of 2024.  Sales volumes were favorable to both guidance and fourth quarter 2024 results.  Costs came in well below company targets and benefited from strong production at the Wilpinjong Mine. Seaborne Met Adjusted EBITDA totaled $13.2 million .  Costs that came in well below company targets, largely offset the impact of a 9 percent reduction in benchmark pricing from the fourth quarter of 2024.  Sales volume of 1.8 million tons came in modestly below targets as the company slowed a return from a longwall move at its Shoal Creek Mine given sluggish market conditions. Powder River Basin Adjusted EBITDA totaled $36.3 million on Adjusted EBITDA margins of 13 percent.  First quarter shipments exceeded expectations due to strong U.S. coal demand and a substantial increase in coal-fueled generation.  PRB segment cost performance was near the low end of company targets.  With a strong start to U.S. coal consumption in 2025, the company anticipates increased customer demand for the full year. Other U.S. Thermal Adjusted EBITDA totaled $32.9 million for the quarter on Adjusted EBITDA margins of 20 percent.  Sales were modestly below guidance as the company replenished stockpiles following a longwall move at the Twentymile Mine, while costs were on the low end of company targets and down 6 percent from the fourth quarter 2024. "Peabody's powerful first quarter results amid challenging markets allowed the company to generate $120 million in operating cash flow and demonstrated the strength of our diversified global coal portfolio," said Executive Vice President and Chief Financial Officer Mark Spurbeck .  "In addition, Peabody's balance sheet remains excellent, with a cash positive net-debt position, fully funded final reclamation and more than $1 billion in liquidity." Centurion Update Centurion shipped its second delivery of premium hard coking coal during the first quarter and the mine's development rates exceeded targets by 20 percent.  Four continuous miners are in production, and the mine is ahead of its target of 500,000 tons of sales for the full year.  Centurion continues to make strong progress toward full scale longwall production in the first quarter of 2026. Acquisition Update Peabody announced that it has notified Anglo American Plc of a Material Adverse Change (MAC) impacting Peabody's planned acquisition of steelmaking coal assets from Anglo. The MAC relates to issues involving the Moranbah North Mine, which remains inactive following what was described as a gas ignition event on March 31 , 2025.  If the MAC is not resolved to Peabody's satisfaction in the limited timeframe specified under the companies' acquisition agreements, Peabody may elect to terminate the agreements. Outlook "Looking ahead, the second quarter is typically our lightest for demand given shoulder season effects on thermal coal demand," said Mr. Grech. "We are already sold out for planned 2025 production in the Powder River Basin, and metallurgical coal prices have rebounded from their lows in March." Second Quarter 2025 Seaborne Thermal Seaborne Metallurgical U.S. Thermal Today's earnings call is scheduled for 10 a.m. CT and can be accessed via the company's website at PeabodyEnergy.com. Peabody (NYSE: BTU) is a leading coal producer, providing essential products for the production of affordable, reliable energy and steel.  Our commitment to sustainability underpins everything we do and shapes our strategy for the future.  For further information, visit PeabodyEnergy.com. Contact: Vic Svec [email protected]   Certain forward-looking measures and metrics presented are non-GAAP financial and operating/statistical measures. Due to the volatility and variability of certain items needed to reconcile these measures to their nearest GAAP measure, no reconciliation can be provided without unreasonable cost or effort.           Forward-Looking Statements This press release contains forward-looking statements within the meaning of the securities laws. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words or variation of words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "projects," "forecasts," "targets," "would," "will," "should," "goal," "could" or "may" or other similar expressions. Forward-looking statements provide management's or the Board's current expectations or predictions of future conditions, events, or results. All statements that address operating performance, events, or developments that may occur in the future are forward-looking statements, including statements regarding the shareholder return framework, execution of the Company's operating plans, market conditions for the Company's products, reclamation obligations, financial outlook, potential acquisitions and strategic investments, and liquidity requirements. All forward-looking statements speak only as of the date they are made and reflect Peabody's good faith beliefs, assumptions, and expectations, but they are not guarantees of future performance or events. Furthermore, Peabody disclaims any obligation to publicly update or revise any forward-looking statement, except as required by law. By their nature, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Factors that might cause such differences include, but are not limited to, a variety of economic, competitive, and regulatory factors, many of which are beyond Peabody's control, that are described in Peabody's periodic reports filed with the SEC including its Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2024 and other factors that Peabody may describe from time to time in other filings with the SEC. You may get such filings for free at Peabody's website at www.peabodyenergy.com . You should understand that it is not possible to predict or identify all such factors and, consequently, you should not consider any such list to be a complete set of all potential risks or uncertainties.   View original content to download multimedia: https://www.prnewswire.com/news-releases/peabody-reports-results-for-quarter-ended-march-31-2025-302446605.html SOURCE Peabody

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