Shares of Peabody Energy Drop After Layoff Announcement [The Motley Fool]
Peabody Energy Corporation (BTU)
Last peabody energy corporation earnings: 4/29 08:00 am
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peabodyenergy.com/investor-info/shareholder-information/presentations
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Source: The Motley Fool
What happenedShares of coal producerPeabody Energy Corporation(NYSE:BTUSo whatAccording toThe Casper Star-TribuneImage source: Getty Images.If demand for coal was already declining at a rapid rate, the economic shutdowns from the novel coronavirus outbreak has exacerbated that effect. Coal consumption for electric power is down 49% from its peak in 2007, and the consumption declines are getting greater and greater each year. With economic output significantly curtailed, the company is also faced with diminished demand for metallurgical coal used in steel making.Three rounds of layoffs in a couple of months are pointing to the fact that one of Peabody's largest and most productive mines isn't doing so well, which probably isn't good for the rest of the company's assets.Now whatThe coal industry has been dying a slow death for quite some time. There aren't a lot of companies that can do well when demand for its primary product has been in decline for a decade. To add an economic shutdow
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News
- Earnings Preview: Peabody Energy (BTU) Q1 Earnings Expected to Decline [Yahoo! Finance]Yahoo! Finance
- Peabody Announces Completion of Wards Well AcquisitionPR Newswire
- Peabody Energy Co. (NYSE: BTU) had its price target lowered by analysts at B. Riley from $34.00 to $32.00. They now have a "buy" rating on the stock.MarketBeat
- Peabody Energy (BTU) Issues Details of Q1 Earnings Results [Yahoo! Finance]Yahoo! Finance
- Peabody Energy Stock: Why I Believe It's A Strong Buy, Despite Bad Guidance [Seeking Alpha]Seeking Alpha
BTU
Earnings
- 2/8/24 - Miss
BTU
Sec Filings
- 4/11/24 - Form 8-K
- 4/8/24 - Form S-3ASR
- 3/28/24 - Form DEF
- BTU's page on the SEC website