. says its profit rose in the first quarter due to higher prices for Australian coal used in steelmaking and increased demand in the U.S.
The world's biggest private-sector coal company says its net income attributable to common shareholders was $176.5 million, or 65 cents per share, in the January-March period. That's up from $133.7 million, or 50 cents, a year earlier.
St. Louis-based Peabody says first-quarter revenue rose 15 percent to $1.74 billion from $1.51 billion the previous year.
On average, analysts polled by FactSet expected Peabody to earn 61 cents per share on revenue of $1.75 billion.
Peabody says it expects second-quarter earnings to benefit from increased Australia volumes and pricing, offset by lingering effects of devastating rains recently on that continent.
