Скачать или смотреть Patriot Coal Reports Surprising Q4 EPS

Patriot Coal (NYSE:PCX) reported Q4 EPS of 8 cents, surprising many analysts that were estimating, on average, a loss of 34 cents. Revenue in the quarter rose to $528.2 million but fell short of the consensus estimate of $548 million. EBITDA rose 32% year-over-year to $42.8 million.

The company said it is increasing metallurgical production to over 8 million tons in 2011, with expansion to over 11 million tons by 2013.

President and CEO Richard Whiting said, "In recent months, we have booked more than 2 million tons of new met coal sales for 2011 delivery at prices substantially higher than those realized in 2010. And we have more than 3 million tons of met production for delivery in 2011 remaining to be priced.We also took advantage of stronger European thermal markets in the fourth quarter, booking nearly 1 million tons of thermal export sales for 2011 delivery."