Peabody posts 2d-qtr. loss but bullish on coal demand

Jul 23, 2014 | 09:59 AM | Nat Rudarakanchana

Tags  Peabody Energy, earnings report, coal, metallurgical coal, thermal coal, raw materials, supply chain, coal markets mining

NEW YORK — Peabody Energy Corp. fell into the red in the second quarter despite coal’s contribution to the global energy mix rising to 30 percent of consumption, its highest level since 1970.

The St. Louis-based company posted a net loss of $73.3 million for the three months ended June 30 in contrast to net income of $90.3 million in the same period last year despite a 1.9-percent increase in revenue to nearly $1.76 billion. ....

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