Peabody Energy Earnings Down

1 decade 2 years 8 months ago Wednesday, November 07 2007 Nov 7, 2007 Wednesday, November 07, 2007 4:46:04 AM CST November 07, 2007 in News
Source: (Copyright 2007 The Associated Press All Rights Reserved.)
ST. LOUIS (AP) - High debt costs result in lower profits for St. Louis-based Peabody Energy. The world's largest private coal company still beat Wall Street expectations when it announced third-quarter earnings. The earnings are down 77 percent from a year ago. Peabody says profits were pinched by debt and interest costs associated with the recent purchase of the Australian mining company Excel Coal. Chief Executive Gary Boyce says the Excel purchase will put Peabody on better footing in the future to sell coal in growing international markets.

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