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Peabody slumps on lower coal volumes

Coal producer Peabody Energy reported 2018 net income of US$663.8 million or $4.28 a share, which was 37.8% higher than the 2017 income of $481.6 million, a year in which the company changed its financial reporting formula.

Peabody slumps on lower coal volumes Peabody slumps on lower coal volumes Peabody slumps on lower coal volumes Peabody slumps on lower coal volumes Peabody slumps on lower coal volumes

Peabody Energy expects to reduce production and sales of higher-quality, higher-cost coal from its North Antelope Rochelle mine

However, the US coal miner lost some of its year-to-date momentum (+17.6%) on the NYSE, which saw the stock fall 10.6% or $3.80 to $32.