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Why Peabody Energy Stock Is Soaring Today

TheMotleyFool

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Why Peabody Energy Stock Is Soaring TodayPhoto, wide shot, wide-angle lens, Coal mine, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.midjourneyapi.xyz/temp/25526de2-54da-40ae-ba56-1e25dead3e81.png

Shares of Peabody Energy (NYSE: BTU) had surged more than 16% by 10:30 p.m. ET on Thursday. The main factor driving the coal mining stock's rally was its fourth-quarter earnings report.

Peabody Energy reported strong fourth-quarter results. The coal mining company generated more than $1.26 billion of revenue, a whopping 72% year-over-year increase. It also produced $426.6 million of free cash flow during the quarter. The company benefited from significant price improvements in seaborne met coal (used to make steel) and thermal coal (sold to electric utilities to produce power).

Image source: Getty Images.

Source Fool.com

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