Coal-mining Peabody Energy Corp. is reporting higher third-quarterprofit, beating Wall Street's expectations, as the miner benefited fromstrong global demand and tightening supplies.
The St. Louis-basedcompany that's one of the world's biggest coal producers reported netincome of $369 million, or $1.36 cents per share, from $32.3 million,or 12 cents per share, a year earlier, when the company said higheracquisition-related debt and interest costs offset an increase inrevenue.
Revenue in the most recent period rose to $1.9 billion from $1.2 billion.
Analysts surveyed by Thomson Financial expect, on average, earnings per share of 87 cents and revenue of $1.68 billion.
The company sold 66 million tons of coal, up from 62.1 million tons.
