US-based coal miner Peabody Energy has announced that it has revised its third quarter earnings guidance. The company now expects adjusted EBITDA of $190-210 million, above the prior targeted range.
"Peabody is pleased that strong cost improvements and operating results are leading to increased adjusted EBITDA expectations even in the face of market challenges. Our operations are performing well as we experienced higher-than-expected results from the western United States, improved performance from Australian metallurgical coal mines, and continued cost reductions across the platform," stated Peabody Energy chairman and CEO Gregory H. Boyce.