Peabody reported full-year 2022 revenue of $4.98 billion compared to $3.32 billion in 2021. Adjusted EBITDA was $1,844.7 million, more than two times the prior year result of $916.7 million.
“Our remarkable fourth quarter results demonstrated the value of Peabody’s diverse asset portfolio. While there were challenges to overcome, we were able to deliver record free cash flow and repay all remaining senior secured debt,” said Peabody President and CEO Jim Grech. “Additionally, due to our strong operating results and financial condition, we are actively addressing the remaining requirements to implement a shareholder return program.”
Peabody also achieved the highest 2022 quarterly production rate in three out of four operating segments during Q4 2022, with a record-low annual global injury rate. Three Peabody mines reported zero reportable incidents. The company began redevelopment of North Goonyella, a premium hard-coking coal longwall operation in Australia with more than 70 million tons of reserves. It also completed Moorvale South project in Australia. In the U.S., the company extended the life of the El Segundo/Lee Ranch mines through a new long-term coal supply agreement.
Peabody’s Seaborne Metallurgical Division sold 6.6 million tons in 2022 compared to 5.5 million tons in 2021. The company sold 82.6 million tons of Powder River Basin (PRB) coal compared to 88.4 million tons in 2021. Weather- and rail-related disruptions prevented the company from selling more PRB tons.