Cloud Peak Energy’s reported earnings of 16 cents per share in third-quarter 2018, surpassing the Zacks Consensus Estimate of a loss of 8 cents, by 300%. Also, the bottom line skyrocketed 433.3% compared with 3 cents per share in the prior-year quarter.
Revenues
Revenues totaled $233.1 million and missed the Zacks Consensus Estimate of $244 million by 4.5%. Moreover, the top line declined 6.4% from $248.9 million in the year-ago period. This downside is due to the lower shipment in the Owned and Operated Mines segment.
Cloud Peak Energy Inc Price, Consensus and EPS Surprise
Segment Performance
Owned and Operated Mines
In the third quarter, the company sold 13.1 million tons of coal compared with 15.5 million tons in the year-earlier quarter. Realized price per ton of coal during the quarter was $12.16, slipping nearly 1.3% year over year. Revenues in this segment were $162 million, down 18.2% from $198 million a year ago. The downtrend was caused by lower shipments as well as per ton lower average realized prices.
Logistics and Related Activities
Total tons delivered were 1.5 million, up from the year-ago quarter’s figure of 1.4 million. Revenues in this segment amounted to $91 million, up 34.4% from $67.7 million in the comparable quarter last year. Strong Asian utility demand and current pricing drove the company’s export as well as boosted its revenues.
Highlights of the Release
Total costs and expenses were $232.4 million, down 2.6% from $238.6 million in the year-ago quarter. This was primarily due to lower depreciation and depletion charges as well as lower selling, general and administration cost.
Financial Update
As of Sep 30, 2018, the company’s cash and cash equivalents were $109.5 million, up from $107.9 million as of Dec 31, 2017.
Senior notes were $401.9 million, down from $405.3 million as of Dec 31, 2017.
Cash provided during the nine-month period of 2018 in operating activities was $24.1 million compared with $57 million in the year-ago quarter.
Guidance
The expected shipments for 2018 are 52 million tons committed with a fixed price of $12.20 per ton.
Capital expenditures for 2018 are projected in the range of $13-$15 million.
Upcoming Releases
Peabody Energy Corp (BTU - Free Report) is anticipated to release third-quarter 2018 results on Oct 30. The Zacks Consensus Estimate for earnings is pegged at $1.29.
Warrior Met Coal Inc. (HCC - Free Report) is anticipated to release third-quarter 2018 results on Oct 31. The Zacks Consensus Estimate for earnings is pegged at $1.21.
CONSOL Coal Resources LP is expected to release third-quarter 2018 results on Oct 29. The Zacks Consensus Estimate for earnings is pegged at 31 cents.
Zacks Rank
Cloud Peak has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Cloud Peak Energy’s reported earnings of 16 cents per share in third-quarter 2018, surpassing the Zacks Consensus Estimate of a loss of 8 cents, by 300%. Also, the bottom line skyrocketed 433.3% compared with 3 cents per share in the prior-year quarter.
Revenues
Revenues totaled $233.1 million and missed the Zacks Consensus Estimate of $244 million by 4.5%. Moreover, the top line declined 6.4% from $248.9 million in the year-ago period. This downside is due to the lower shipment in the Owned and Operated Mines segment.
Cloud Peak Energy Inc Price, Consensus and EPS Surprise
Segment Performance
Owned and Operated Mines
In the third quarter, the company sold 13.1 million tons of coal compared with 15.5 million tons in the year-earlier quarter. Realized price per ton of coal during the quarter was $12.16, slipping nearly 1.3% year over year. Revenues in this segment were $162 million, down 18.2% from $198 million a year ago. The downtrend was caused by lower shipments as well as per ton lower average realized prices.
Logistics and Related Activities
Total tons delivered were 1.5 million, up from the year-ago quarter’s figure of 1.4 million. Revenues in this segment amounted to $91 million, up 34.4% from $67.7 million in the comparable quarter last year. Strong Asian utility demand and current pricing drove the company’s export as well as boosted its revenues.
Highlights of the Release
Total costs and expenses were $232.4 million, down 2.6% from $238.6 million in the year-ago quarter. This was primarily due to lower depreciation and depletion charges as well as lower selling, general and administration cost.
Financial Update
As of Sep 30, 2018, the company’s cash and cash equivalents were $109.5 million, up from $107.9 million as of Dec 31, 2017.
Senior notes were $401.9 million, down from $405.3 million as of Dec 31, 2017.
Cash provided during the nine-month period of 2018 in operating activities was $24.1 million compared with $57 million in the year-ago quarter.
Guidance
The expected shipments for 2018 are 52 million tons committed with a fixed price of $12.20 per ton.
Capital expenditures for 2018 are projected in the range of $13-$15 million.
Upcoming Releases
Peabody Energy Corp (BTU - Free Report) is anticipated to release third-quarter 2018 results on Oct 30. The Zacks Consensus Estimate for earnings is pegged at $1.29.
Warrior Met Coal Inc. (HCC - Free Report) is anticipated to release third-quarter 2018 results on Oct 31. The Zacks Consensus Estimate for earnings is pegged at $1.21.
CONSOL Coal Resources LP is expected to release third-quarter 2018 results on Oct 29. The Zacks Consensus Estimate for earnings is pegged at 31 cents.
Zacks Rank
Cloud Peak has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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