RTTNews | Oct 18, 2021 10:10AM EDT

10:09 Monday, October 18, 2021 (RTTNews.com) - Shares of coal mining company Peabody Energy Corporation (BTU) are rising more than 13% in the morning trade on Monday after the company provided preliminary third-quarter results.

Peabody Energy expects revenue in the range of $670 million to $690 million in the third quarter, net loss from continuing operations of $55 million to $75 million and net loss attributable to common stockholders of $40 million to $60 million.

Revenues and net loss attributable to common stockholders were negatively impacted by approximately $238 million of unrealized mark-to-market losses related to forward pricing hedges in the quarter, the company noted.

The consensus estimate of analysts polled by Thomson Reuters stands at $876.8 million.

"The preliminary financial results we reported today continue to demonstrate the disciplined approach we are taking to control costs, expand margins and reduce debt. Coal sales to customers were in excess of $900 million, the highest level in seven quarters. We remain optimistic about the future given strong coal pricing and global demand fundamentals," said Peabody President and Chief Executive Officer Jim Grech.

Peabody is scheduled to report its third quarter results on October 28, 2021.

BTU, currently at $18.04, has been trading in the range of $0.80- $19.83 in the past one year.

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