Peabody Energy Corporation Records Slight Earnings Beat Vs. Estimates

Peabody Energy Corporation BTU recorded a slight earnings beat vs. Dahlman Rose & Co.'s estimates and consensus, “with variance from our number being attributed to strong sales and trading activity and higher margins at the Western Bit. and PRB operations,” Dahlman Rose & Co. writes. Dahlman Rose & Co. said that heavy September rains in Australia affected operations, and the negative impact will spillover into 4Q10, though healthy inventories have done much to offset lost production. Adds Dahlman Rose & Co., “Excluded from adjusted earnings was a $43MM tax charge resulting from the 13% appreciation of AUD/USD.” Peabody Energy Corporation currently trades for $50.53.