Peabody Energy Corp. says its profit rose in the first quarter due to higher prices for Australian coal used in steelmaking and increased demand in the U.S.
The world's biggest private-sector coal company says its net income attributable to common shareholders was $176.5 million, or 65 cents per share, in the January-March period. That's up from $133.7 million, or 50 cents, a year earlier.
St. Louis-based Peabody says first-quarter revenue rose 15 percent to $1.74 billion from $1.51 billion the previous year.
The Smurfit-Stone building in downtown Chicago, a well-known fixture of the city's skyline. Smurfit-Stone, headquartered in Chicago and Creve Coeur, Mo. will be acquired by RockTenn of Norcross, Ga. (via Flickr/Chronochaser)
Mo. Gov. Jay Nixon (R), on Jan. 18, 2010, discusses the agreement that states the Ford Motor Company will invest hundreds of millions of dollars over the next two years to produce a new line of vehicles at its Claycomo, Mo. plant. (UPI/Bill Greenblatt)