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Peabody posts $200 million profit in third quarter
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Peabody posts $200 million profit in third quarter

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Peabody

Haul trucks transport coal at Peabody Energy’s North Antelope Rochelle mining complex in the Powder River Basin in 2012. The Wyoming Supreme Court weighed the rights of oil and gas and coal leases on same patch of land. 

GILLETTE — Less than six months removed from emerging from Chapter 11 bankruptcy protection, Peabody Energy Corp. is reporting a profit of $203 million on revenues of $1.48 billion for the third quarter of 2017.

The profit mirrors the nearly $200 million the company realized in the first quarter of the year, and along with the nearly $100 million posted for the second quarter, brings the company's profit to about $500 million so far for the year.

That's a far cry from the estimated $2 billion Peabody lost in 2015. The world's largest privately held coal producer was sitting on more than $10 billion in debt when it entered Chapter 11 protection in 2016 and shed more than $5 billion of that debt through the bankruptcy process.

 

 

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