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Peabody Energy reports Q4'17 profit, optimism for 2018

Peabody Energy Corp. on Feb. 7 reported net income attributable to common stockholders of $317.4 million, or $2.37 per share, in the fourth quarter of 2017, compared with a loss of $192.7 million, or $10.53 per share, in the fourth quarter of the previous year.

The S&P Capital IQ consensus normalized earnings estimate for the fourth quarter was $1.31 per share, with four analysts reporting.

Revenue was $1.52 billion, compared with $1.44 billion a year earlier.

The company sold 49.8 million tons of coal in the fourth quarter, compared with 51.7 million tons in the fourth quarter a year earlier.

Full-year sales and financial information were not available as the company emerged from bankruptcy in April 2017.

"A highly successful fourth quarter capped a year of substantial achievement for Peabody, as the company delivered results and generated value," said President and CEO Glenn Kellow. "Fourth quarter results reflect strong operational performance, significant cash generation and debt repayment, meaningful release of restricted cash and continued share repurchases, and we have much more progress targeted for 2018."

Peabody also announced that its board of directors declared a quarterly dividend of 11.5 cents per share on the company's common stock, payable March 5 to shareholders of record on Feb. 19.