Peabody Energy Shares Soar as Q1 Earnings Beat Expectations (BTU)


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Coal producer Peabody Energy Corporation ( BTU ) on Thursday said its first quarter profit fell from last year, but results still easily beat expectations and the company's shares rose in early trading.

The St. Louis-based company reported first quarter net income of $172.7 million, or 63 cents per share, compared with $176.5 million, or 65 cents per share, in the year-ago period.

Revenue rose 17% from last year to $2.04 billion.

On average, Wall Street analysts expected a smaller profit of 55 cents per share, albeit on higher revenue of $2.08 billion.

Looking ahead, BTU forecast second quarter adjusted earnings of 40 cents to 65 cents per share, while analysts expect 59 cents.

Peabody Energy shares jumped $1.36, or +4.8%, in premarket trading Thursday.

The Bottom Line
Shares of Peabody Energy ( BTU ) have a 1.19% dividend yield, based on last night's closing stock price of $28.46. The stock has technical support in the $24-$25 price area. If the shares can firm up, we see overhead resistance around the $33-$35 price levels.

Peabody Energy Corporation ( BTU ) is not recommended at this time, holding a DARS™ Rating of 3.0 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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