Peabody Energy (NYSE:BTU) reported third-quarter 2026 financial results on November 4, 2026, disclosing a net loss attributable to common stockholders of $(32.8) million and Adjusted EBITDA of $97.5 million, with all four segments reporting positive Adjusted EBITDA.

Key Highlights

  • Net loss: $(32.8) million, or $(0.27) per diluted share, for Q3 2026, compared to $(70.1) million, or $(0.58) per diluted share, in the prior-year quarter.
  • Adjusted EBITDA: $97.5 million in Q3 2026, compared to $99.5 million in the prior-year quarter.
  • Seaborne Thermal Adjusted EBITDA: $65.5 million, a 26 percent increase from the prior quarter, with margin per ton of $21.05 and export revenue per ton exceeding $100.
  • Seaborne Metallurgical: Returned to positive Adjusted EBITDA of $5.2 million on sales of 2.2 million tons, up from $(17.0) million in Q2 2026.
  • Centurion production impact: October production was approximately 45,000 tons; Q4 2026 sales volume expected between 0.3 and 0.5 million tons.
  • Convertible notes: Repurchased $38.9 million of 2028 convertible notes and announced redemption of the remaining $39.9 million, to be completed in November 2026.
  • Quarterly dividend: $0.075 per share declared on November 4, 2026, payable December 9, 2026, to stockholders of record on November 19, 2026.

Peabody Q3 2026 Segment Performance and Centurion Challenges

According to the filing, Peabody's Seaborne Thermal segment was the strongest contributor in the quarter, generating Adjusted EBITDA of $65.5 million on 3.1 million tons sold. Export average realized price per ton rose to $100.37, up from $95.87 in Q2 2026 and $76.54 in Q3 2025. Costs per ton were $56.58. The Seaborne Metallurgical segment reported Adjusted EBITDA of $5.2 million, reversing a $(17.0) million loss in the prior quarter, with realized pricing improving nearly $17 per ton quarter over quarter, though costs per ton of $162.45 were elevated due to faulted conditions at the Centurion mine.

The Powder River Basin segment sold 19.6 million tons, below company targets due to lower-than-anticipated coal burn, and reported Adjusted EBITDA of $15.0 million. Costs per ton improved 8 percent quarter over quarter to $12.94. The Other U.S. Thermal segment delivered 3.4 million tons and Adjusted EBITDA of $25.5 million, with revenue per ton rising 8 percent quarter over quarter to $59.53. The company reported cash of $434 million and liquidity of $887 million as of September 30, 2026.

The filing disclosed that Centurion's longwall encountered "more problematic faulting than anticipated across multiple areas of the panel" late in the quarter. The company identified engineering modifications including a base-lift power increase estimated at $1.5 to $2 million and a two-stage flipper estimated at $5 to $10 million, the latter to be installed during the next longwall move now expected in Q3 2027. Capital expenditure guidance was reduced by $40 million for the full year, including approximately $30 million at Centurion, primarily from deferral of development capital for the Northern panels. Full-year Seaborne Metallurgical volume guidance was lowered by 0.6 million tons, and costs are expected to increase by approximately $15 per ton.

What Was Disclosed

Peabody filed its Q3 2026 earnings release on November 4, 2026, covering results for the quarter ended September 30, 2026. The filing detailed segment Adjusted EBITDA, convertible note repurchases, Centurion operational challenges, updated full-year guidance, and a declared quarterly dividend.