Peabody Energy Corporation (BTU) SEC Filings & Earnings Calls

Coal demand cyclicality and regulatory risks remain.

“Forward-looking statements reference economic, competitive, and regulatory factors.”

Key operating executive transitioning to part-time consulting; potential loss of full-time operational leadership

“COO Darren Yeates to provide only up to 40 hours/month consulting from Feb 2027”

Forward-looking statements subject to risks including market conditions, reclamation obligations, and regulatory factors.

“Forward-looking statements are subject to risks and uncertainties... described in Peabody's periodic reports.” · word for word

Thermal coal demand decline

“Powder River Basin revenue declined 18.8% YoY.”

Operating loss widening

“Operating loss increased to $(105.4) million from $(38.4) million.”

Cash flow deterioration

“Operating cash flow dropped 80% to $28.6 million.”

Centurion mine commissioning costs weighing on Seaborne Met segment profitability

“Seaborne Metallurgical delivered Adjusted EBITDA of $(17.0) million in the quarter, as the continued commissioning of Centurion contributed to higher-than-expected costs.” · word for word

Powder River Basin demand weakness due to mild weather and plant maintenance

“Sales volume fell below targeted levels due to milder weather extending the spring shoulder season and longer coal generation plant maintenance downtimes ahead of summer.” · word for word

No material risk; credit facility amendment improves liquidity and reduces cost.

“Increased capacity, extended maturity, reduced interest rate.”

Positive liquidity event; no material risk identified.

“Replacement of cash-collateralized programs with surety bonds; termination of TSA reduces collateral.”

Convertible notes add potential dilution; capped calls partially offset but not fully.

“initial conversion rate for the Notes will be 26.0970 shares of the Company's common stock per $1,000 principal amount” · word for word

Potential dilution from convertible notes if converted to equity.

“Convertible Senior Notes due 2031” · word for word

Loss of board member with committee roles, but no operational or strategic impact indicated.

“Resignation effective immediately; no disagreement with company operations.”

Forward-looking statements subject to risks; no specific risk factors detailed in excerpt.

“Forward-looking statements are subject to risks and uncertainties.” · word for word

Operating cost inflation

“Operating costs and expenses 864.7 (2026) vs 770.2 (2025), +12.3% YoY”

Customer concentration in Other U.S. Thermal

“Identified certain assets with an aggregate carrying value of approximately $60 million in its Other U.S. Thermal segment whose recoverability is most sensitive to customer concentration risk.” · word for word

Convertible note dilution risk

“2028 Convertible Notes convertible; if-converted value exceeded principal by $232.4M; 16.8M shares excluded from diluted EPS as anti-dilutive.”

Centurion mine commissioning delays pose operational and financial risk.

“Centurion commissioning period extended due to temporary equipment and roof control challenges.”

Global energy market volatility impacts coal demand and pricing.

“Amid volatility in global energy markets; Middle East conflict affecting LNG prices and coal demand.”

Centurion Mine commissioning delays may persist, impacting future production.

“greater-than-anticipated mine commissioning challenges” · word for word

Weaker coal market conditions

“The 2025 Adjusted EBITDA target of $472 million is lower than 2024 results primarily due to weaker market conditions.” · word for word

CEO succession risk

“James C. Grech, President and Chief Executive Officer of the Company, is approaching retirement eligibility.” · word for word

Terminated acquisition costs

“Costs Related to Terminated Acquisition $78.9 million”

Coal demand dependent on Asia growth

“India and Southeast Asia drive seaborne met coal demand growth”

Regulatory and environmental risks

“Forward-looking statements caution about regulatory factors”

Natural Gas Competition

“The competitiveness of natural gas has been strengthened by continued growth in domestic natural gas production and new natural gas combined cycle generation capacity. The Henry Hub Natural Gas Prompt Price averaged $3.62 per mmBtu in 2025, versus $2.41 and $2.66 per mmBtu in 2024 and 2023, respectively.” · word for word

Coal Plant Retirements

“During 2025, approximately 3 gigawatts of U.S. coal power capacity was retired, and since 2010, U.S. coal power capacity has fallen by approximately forty-six percent.” · word for word

Regulatory and Environmental Pressures

“Regulatory policies and environmental, social and governance considerations can also have an impact on generation choices and coal consumption.” · word for word

Geopolitical and Trade Flow Disruptions

“Global thermal coal markets were turbulent during 2023, due in part to the Russian-Ukrainian conflict and the subsequent ban of Russian coal by European countries. Economic sanctions have continued to influence trade flows of thermal coal in 2025.” · word for word

Sharply lower seaborne coal prices driving revenue and earnings decline.

“Full-year revenue down 9%; Adjusted EBITDA down 48%; net loss of $52.9M.”

Dependence on coal demand for AI/data-center power may be offset by natural gas competition.

“Supportive U.S. policy and market conditions including higher natural gas prices, and AI and data-center-driven demand for dispatchable power resulted in increased coal plant utilization.” · word for word

CEO transition risk; potential leadership vacuum if successor not identified.

“Board will conduct active search for successor.”

Board refreshment is routine; no material risk identified.

“No arrangements or understandings with any other persons; no family relationships; no material interest in transactions.”

Customer concentration risk in Other U.S. Thermal

“The Company identified certain assets with an aggregate carrying value of approximately $68 million at September 30, 2025 in its Other U.S. Thermal segment whose recoverability is most sensitive to customer concentration risk.” · word for word

Terminated acquisition costs and uncertainty

“Costs related to terminated acquisition $54.0M in Q3 2025; Bridge Facility commitment and duration fees $36.3M in Q3 2025.”

Coal pricing pressure in seaborne markets; ongoing pricing pressure noted.

“Despite ongoing pricing pressure, the segment achieved an Adjusted EBITDA margin of 17 percent” · word for word

Costs related to terminated acquisition impacted net income by $54M.

“including $54.0 million of Costs Related to Terminated Acquisition” · word for word