Peabody Energy reported a net loss of $70.1 million for the third quarter of 2025, a swing from a $101.3 million profit in the same quarter last year. Adjusted EBITDA for the quarter was $99.5 million, down from $224.8 million in Q3 2024. The loss includes $54.0 million in costs related to the terminated acquisition of Anglo American’s metallurgical assets, which was called off on August 20 2025 after an ignition event at Anglo American’s Moranbah North Mine.
Segment results showed Seaborne Thermal generating $41.0 million in adjusted EBITDA, supported by higher Powder River Basin volumes and a 17 % margin. Seaborne Metallurgical posted $27.8 million in adjusted EBITDA, driven by a 6 % rise in tonnage and lower operating costs. The Powder River Basin segment added $51.7 million in adjusted EBITDA, reflecting a 20 % increase in volume and a 53 % rise in adjusted EBITDA over the prior year.
Peabody raised its full‑year 2025 guidance, targeting 15.1–15.4 million tons for Seaborne Thermal, 8.3–8.5 million tons for Seaborne Metallurgical, and 84–86 million tons for the Powder River Basin. The company confirmed that the Centurion mine will begin long‑wall production in February 2026, a milestone expected to boost metallurgical volumes and realizations. Capital expenditures for 2025 are capped at $420 million, a $30 million reduction from the prior year, while the company continues to invest $680 million in Centurion development. Cash and liquidity were $603.3 million and above $950 million, respectively, as of September 30 2025. A quarterly dividend of $0.075 per share is scheduled for December 3 2025.
The termination of the Anglo American acquisition, valued at approximately $4.9 billion, was driven by a material adverse change clause triggered by the ignition event. Peabody incurred the $54 million cost as part of the termination settlement. The company’s focus on cost discipline and higher‑margin metallurgical coal is reinforced by favorable U.S. policies that extend the life of coal‑fueled generating plants, reduce royalties, and provide production tax credits. Peabody is also advancing its rare earth initiative, aiming to characterize rare earth elements in its feedstock to support future diversification efforts.
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