Peabody Energy Announces Results for the Year Ended December 31, 2010

Peabody Energy BTU today reported full-year 2010 EBITDA of $1.82 billion, a 41 percent increase over prior-year levels. Income from continuing operations rose 76 percent to $805.1 million, with diluted earnings per share from continuing operations of $2.87. Adjusted diluted earnings per share from continuing operations increased 59 percent to $3.05. The company also set a new record for revenues of $6.86 billion on sales of 245.9 million tons. "Peabody delivered the second best year in company history, with record safety performance, strong cost containment and margin expansion in every operating region," said Peabody Energy Chairman and Chief Executive Officer Gregory H. Boyce. "While heavy rains and other supply disruptions create near-term logistics challenges, they also result in significant market upside for Peabody's unpriced metallurgical and thermal export coal beyond the first quarter. At the same time, our platform is in expansion mode to serve the seaborne Pacific markets, which have the greatest sustainable growth opportunities and pricing leverage."