Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 | |||||||
Date of Report (Date of earliest event reported): December 14, 2012 | |||||||
PEABODY ENERGY CORPORATION | |||||||
(Exact name of registrant as specified in its charter) | |||||||
Delaware | 1-16463 | 13-4004153 | |||||
(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) | |||||
701 Market Street, St. Louis, Missouri | 63101-1826 | ||||||
(Address of principal executive offices) | (Zip Code) | ||||||
Registrant's telephone number, including area code (314) 342-3400 | |||||||
N/A | |||||||
(Former name or former address, if changed since last report.) | |||||||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: | |||||||
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||||
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||||
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||||
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Exhibit No. | Description of Exhibit |
99.1 | Peabody Energy Corporation Press Release dated December 14, 2012. |
PEABODY ENERGY CORPORATION | |
December 14, 2012 | By: /s/ Kenneth L. Wagner |
Name: Kenneth L. Wagner | |
Title: Vice President, Assistant General Counsel and Assistant Secretary | |
Exhibit No. | Description of Exhibit | |
99.1 | Peabody Energy Corporation Press Release dated December 14, 2012. |
PEABODY ENERGY News Release | |
CONTACT: Vic Svec (314) 342-7768 |
• | An increase in Australian unit costs of approximately 10 percent. Several factors will affect first quarter targets, including the timing of additional overburden removal at the Eaglefield and Wilpinjong mines that impacts both production and costs; startup costs associated with the transition to owner-operator status at the Wilpinjong and Millennium mines; and a larger proportion of higher-cost metallurgical coal; |
• | Lower realized metallurgical coal pricing compared with the fourth quarter of 2012; |
• | A decline of approximately 2 million tons in U.S. sales based on market-related demand, as well as a decrease of approximately 5 percent in average realized pricing due to the expiration of higher-priced contracts; and |
• | Higher depreciation, depletion and amortization expenses as recently completed capital projects fully begin operations and production increases from higher-cost reserves acquired in recent years. |
• | Capital expenditures approximately 50 percent lower than 2012 targets of $1.0 to $1.1 billion; |
• | U.S. sales volumes of 180 to 190 million tons, down from 2012 targets of 188 to 192 million tons; |
• | Australian sales volumes of 33 to 36 million tons, increasing from 2012 targets of 31 to 33 million tons. Full-year Australian costs are expected to rise approximately 5 percent over 2012 levels. Margins are expected to improve from first-quarter levels, based on the completion of higher overburden removal at the Wilpinjong and Eaglefield mines, transition to owner-operator status at two mines in the second quarter, completion of corrective actions at the PCI operations, and a strengthening of metallurgical coal markets; and |
• | Depreciation, depletion and amortization up to 20 percent higher than 2012 targets, due to increased production from recently acquired and expanded operations. |