BTU earnings analysis
What we found in BTU's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Peabody Energy's Q1 2026 report shows a modest increase in revenue to $973.3 million, surpassing estimates but reflecting challenges in profitability, evidenced by an EPS loss of -$0.27. The company faced significant operational challenges that influenced margins, although there were specific segment performances like an increase in Seaborne Metallurgical revenue. Management signals ongoing cost pressures and upcoming operational improvements, with no firm guidance for the upcoming quarters.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Surpass Estimates
- Q1 2026 revenue was $973.3 million, exceeding estimates of $958.2 million.
- EPS Missed Expectations
- Diluted EPS came in at -$0.27, missing the expected $0.07 by $0.34.
- Seaborne Metallurgical Growth
- Seaborne Metallurgical revenue increased to $283 million, up 29% year-over-year.
- Operating Cash Flow Decline
- Net cash provided by operating activities dropped to $30 million, down from $119.9 million year-over-year.
- Increased Segment Costs
- Total Segment Costs rose to $864.6 million, a 13% year-over-year increase.
- Available Liquidity Decreased
- Total liquidity decreased from $942.1 million at 2025 year-end to $868.2 million as of March 31, 2026.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Operational Challenges at Centurion Mine
- Centurion Mine faced mechanical issues leading to operational disruptions, affecting production ramp-up.
- High Costs Due to Increased Operational Expenses
- Operating expenses increased significantly, impacting profitability and margin stability.
- Declining Adjusted EBITDA
- Adjusted EBITDA decreased to $82.5 million from $144.0 million, a decline of 43% year over year.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.27
- Segment
- Seaborne Thermal
- Segment
- Seaborne Metallurgical
- Segment
- Powder River Basin
- Segment
- Other U.S. Thermal
What they said about what is next.
No explicit numeric guidance provided; management indicates ongoing operational recovery efforts.
The filing reads worse than the one before it.
What came before.
- 10-K · February 19, 2026
- Peabody positions itself as a leading producer of metallurgical and thermal coal with four reportable segments (Seaborne Thermal, Seaborne Metallurgical, Powder River Basin and Other U.S. Thermal). The filing highlights…
- 10-Q · May 8, 2025
- Peabody reported Q1 2025 revenue of $937.0 million and diluted EPS of $0.27. Operating profit fell to $31.9 million from $51.2 million a year ago, but operating cash flow remained strong at $119.9 million and the…
- 10-K · February 20, 2025
- Peabody’s 2024 10‑K emphasizes growth in metallurgical coal through the November 25, 2024 definitive agreements to acquire a portion of Anglo American’s Australian metallurgical coal portfolio (expected to close in Q2…
- 10-Q · August 8, 2024
- Peabody reported Q2 2024 revenue of $1,042.0 million (down $226.8 million vs Q2 2023) while delivering diluted EPS of $1.42 (vs $1.15 in Q2 2023), driven by a $233.9 million operating profit and a $109.5 million Shoal…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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