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Peabody flags weaker Q3 earnings

US coal producer Peabody Energy says its September-quarter earnings are expected to be materially lower than the prior quarter because of shrinking thermal coal demand and delays ramping up production from the Middlemount joint-venture mine in Queensland, Australia.

Henry Lazenby
Peabody Energy expects significantly lower third-quarter revenues on the back of falling coal demand and prices

Peabody Energy expects significantly lower third-quarter revenues on the back of falling coal demand and prices

The guidance contrasts with the company's commentary at the time of its June-quarter earnings results when it forecast "progressive increases in both seaborne thermal and seaborne metallurgical coal volumes"...

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