UPDATE: Peabody Energy Reports 38% Surge In Q2 Profit, Lifts Full-year Earnings Guidance

Peabody Energy Corp BTU reported a 38% rise in its second-quarter profit and lifted its full-year earnings forecast. Peabody's quarterly profit rose to $284.8 million, or $1.05 per share, from $206.2 million, or $0.76 per share in the year-ago quarter. Its adjusted earnings came in at $1.11 per share. Its revenue surged 21% to $2.01 billion. Analysts were expecting earnings of $1.04 per share on revenue of $2.02 billion. BTU lifted its full-year earnings forecast to $4.20 to $4.60 per share, up from its earlier forecast of $3.50 to $4.50 per share. The company projected Q3 earnings of $1.05 to $1.25 per share, versus analysts' estimates of $1.40 per share. BTU shares gained 0.17% to $60.00 in pre-market trading.