Peabody Energy Corporation (NYSE:BTU)

Peabody is targeting 2009 EBITDA of $1.0 to $1.2 billion. The company is maintaining its 2009 production estimates of 185 to 190 million tons in the United States and 20 to 23 million tons in Australia, with estimated total sales of 225 to 245 million tons. The company's 2009 results will be subject to a number of factors including the actual deliveries of metallurgical coal from Australia and steam coal in the United States, as well as coal chain logistics and exchange rates.

^a The above forecasts reflect the Company's current and preliminary views and are therefore subject to change. Please refer to the Company's Safe Harbor Statement (usually in press releases) for the factors that could cause actual results to differ materially from those contained in any forward-looking statement. 

^b Includes the tax remeasurement to date and assumes stable exchange rates.

With continued uncertainty around the economy, steel demand and electricity generation, Peabody is reducing its 2009 production estimates to 185 to 190 million tons in the United States and 20 to 23 million tons in Australia, with total sales of 225 to 245 million tons. Because full-year global and U.S. delivery levels remain uncertain, and seaborne coal settlements and carryover negotiations are ongoing, Peabody will defer providing full-year financial targets. The company's 2009 results will be affected by a number of issues including the longevity of the global economic slump; Australian seaborne coal pricing, volumes and carryover terms; and the potential for additional customer shipment delays.

Source: PR Newswire (April 15, 2009)

Guidance Report:

"While the world faces significant near-term economic challenges, Peabody's middle- to long-term outlook remains positive," said Boyce. "We believe that inventories will rebalance, steel demand will recover, new coal plants will come on line and existing plants will run at higher utilization, while difficult geology and lack of capital access will deplete supply and limit infrastructure development. As recent global outlooks have forecast, nations will continue to turn to coal in increasing quantities, and Peabody remains best positioned in the industry to serve this growing demand."

Source: PR Newswire (January 27, 2009)