Peabody Energy stock surges after reporting big profit and revenue beats and says it is prepping a shareholder return program

Shares of Peabody Energy Corp.
BTU,
+9.34%
surged 4.0% in premarket trading Tuesday, after the coal miner reported fourth-quarter profit and revenue that rose well above expectations, recorded record free cash flow and said it repaid all remaining senior secured debt. Net income climbed to $632.0 million, or $3.92 a share, from $375.1 million, or $2.33 a share, in the year-ago period. The FactSet consensus for earnings per share was $2.16. Revenue grew 28.6% to $1.63 billion, beating the FactSet consensus of $1.39 billion. The company generated a record $579.7 million of free cash flow in the fourth quarter, and ended 2022 with $1.31 billion of cash and cash equivalents. “[D]ue to our strong operating results and financial condition, we are actively addressing the remaining requirements to implement a shareholder return program,” said Chief Executive Jim Grech. The stock fell 5.8% over the past three months through Monday but has soared 46.2% over the past 12 months, while the S&P 500
SPX,
-0.12%
has gained 4.6% the past three months and lost 6.0% the past year.