Coal producer Peabody Energy Corporation (BTU – Analyst Report) reported a loss of 58 cents per share in second-quarter 2015, marginally narrower than the Zacks Consensus Estimate of a loss of 59 cents. Peabody had posted a loss of 28 cents in second-quarter 2014.  

The loss per share figure in the reported quarter was within the company's guidance of a loss of 59 cents to 49 cents.

Loss from continuing operations in the reported quarter including 7 cents for restructuring and $3.06 for impairments were $3.71 per share.

Revenue

Peabody's quarterly revenues of $1.34 billion decreased 23.8% year over year and also missed the Zacks Consensus Estimate of $1.49 billion by 10.1%.

Revenues were adversely impacted by lower sales price per ton and sales volume compared to the prior-year period.

Operational Update

Peabody's total sales volume in the quarter was 51.9 million tons, down 15.9% year over year.

Operating costs and expenses declined 18.3% year over year to $1.2 billion, an outcome of the cost-saving measures taken by the company.

Revenues per ton, in the U.S., decreased 7.7% year over year to $20.55, while revenues per ton in Australia plunged 19.4% to $58.96.