Peabody Energy Corp. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported net loss attributable to common stockholders was $1,006.0 million or $3.78 per diluted share on revenue of $2,016.9 million against net income attributable to common stockholders of $222.4 million or $0.82 per diluted share on revenue of $2,229.8 million a year ago. Operating loss was $722.0 million compared to operating profit of $418.2 million a year ago. Loss from continuing operations before income taxes was $814.5 million compared to income from continuing operations before income taxes of $345.9 million a year ago. Loss from continuing operations, net of income taxes was $991.3 million or $3.73 per diluted share compared to income from continuing operations, net of income taxes was $221.5 million or $0.92 per diluted share a year ago. Adjusted EBITDA was $407.3 million compared to $584.2 million a year ago. Adjusted loss from continuing operations was $295.2 million or $1.12 per diluted share compared to adjusted income from continuing operations of $237.5 million or $0.98 per diluted share a year ago. Operating cash flows was $223.6 million compared to $442.7 million a year ago.

For the year, the company reported net loss attributable to common stockholders was $585.7 million or $2.19 per diluted share on revenue of $8,077.5 million against net income attributable to common stockholders was $957.7 million or $3.52 per diluted share on revenue of $7,895.9 million a year ago. Operating profit of $172.5 million compared to $1,595.7 million a year ago. Loss from continuing operations before income taxes was $208.6 million compared to income from continuing operations before income taxes of $1,376.0 million a year ago. Loss from continuing operations, net of income taxes was $470.9 million or $1.80 per diluted share compared to income from continuing operations, net of income taxes was $1,012.8 million or $3.77 per diluted share a year ago. Adjusted EBITDA was $1,836.5 million compared to $2,122.6 million a year ago. Adjusted income from continuing operations was $238.7 million or $0.84 per diluted share compared to $1,011.9 million or $3.77 per diluted share a year ago. Operating cash flows was $1,515.1 million compared to $1,633.2 million a year ago.

The company provided earnings guidance for the first quarter of 2013. For the quarter, the company targeting Adjusted EBITDA of $200 million to $270 million and Adjusted diluted loss per share of $0.26 to $0.04. Targets reflect expectations of higher Australian costs related to the timing of additional overburden removal and startup costs associated with the transition to owner operator; lower realized metallurgical coal pricing; and lower U.S. sales and pricing.

The company provided earnings guidance for the full year of 2013. For the year, the company targeting total sales of 230 to 250 million tons, including U.S. sales of 180 to 190 million tons, Australian sales of 33 to 36 million tons, and the remainder from Trading and Brokerage activities; Stable 2013 costs per ton in the United States with expected U.S. revenues per ton 5% to 10% below 2012 levels; Australian costs in the low $80 per ton range as cost containment actions and productivity improvements partly mitigate external cost pressures and a higher-cost metallurgical coal mix; Full-year depreciation, depletion and amortization now expected to be approximately 10% higher than 2012 levels; and Rising earnings as the year proceeds, based on expected increases in Australian volumes and pricing and improved costs per ton. Targeting 2013 capital expenditures of $450 to $550 million, approximately 50% below 2012 levels.

The company announced that it recorded a pre-tax non-cash impairment charge of $884 million related to certain Australian operations and non-core assets in fourth quarter of 2012, pushing the company to a loss from continuing operations of $3.73/diluted share in the period.