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Peabody Crushes

Submitted by Todd Sullivan on Tue, 01/27/2009 - 18:18.
in
Peabody Energy

Peabody Energy (NYSE:BTU) said fourth-quarter net income rose eightfold
to $293.3 million, or $1.10 a share, from $35.8 million, or 13 cents a
share in the year-ago period. The year-ago period included a loss of
$108 million related to income tax.

Operating profit more than doubled to $386 million from $151 million. Revenue increased to $1.88 billion from $1.17 billion. Analysts expected earnings of 73 cents a share on revenue of $1.67 bililon, according to a survey by FactSet Research. Looking ahead, the company expects to sell 230 to 250 million tons of coal in 2009. Peabody did say it was looking at acquisitions, maybe rival Arch (NASDAQ:ARCH)?

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