ST. LOUIS (AP) — Cost cutting at Peabody Energy helped trim its losses by almost 44 percent in the fourth quarter.
The St. Louis coal miner on Thursday reported a loss of $565.7 million, or $2.12 per share during the October-December period. That compares with a loss of $1.01 billion, or $3.78 per share, a year ago.
Revenue fell to $1.7 billion, from $2.01 billion.
For all of last year, Peabody posted a net loss of $524.9 million, or $1.97 per share, on revenue of $7.01 billion. That compares with a 2012 loss of $585.7 million, or $2.19 per share.
Peabody Energy Corp. says it expects adjusted diluted earnings in this year's first three months of a loss of 10 cents to a profit of 14 cents per share.