Peabody's quarterly report shows lull in output, lower costs

CASPER – The nation’s largest coal company published mixed results in its quarterly financial report released Monday, showing both losses and gains in its Powder River Basin coal operations as the COVID-19 pandemic continues to rock energy markets.

Peabody Energy reported a 39% decline in revenue between July and September due in part to lower production volumes and weaker prices for exported coal.

The third quarter report painted an uncertain future for its three thermal coal operations in the Powder River Basin, the nation’s epicenter for coal used to produce electricity.

Despite a 22% drop...

 

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