Form 8-K

8-K — PEABODY ENERGY CORP

Accession: 0001064728-26-000022

Filed: 2026-05-05

Period: 2026-05-05

CIK: 0001064728

SIC: 1221 (BITUMINOUS COAL & LIGNITE SURFACE MINING)

Item: Results of Operations and Financial Condition

Item: Other Events

Item: Financial Statements and Exhibits

Documents

8-K — btu-20260505.htm (Primary)

EX-99.1 (btu8k20260505ex991.htm)

EX-99.2 (btu8k20260505ex992.htm)

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8-K

8-K (Primary)

Filename: btu-20260505.htm · Sequence: 1

btu-20260505

0001064728false00010647282026-05-052026-05-05

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 5, 2026

PEABODY ENERGY CORPORATION

(Exact name of registrant as specified in its charter)

Delaware 1-16463 13-4004153

(State or other jurisdiction of

incorporation) (Commission File Number) (I.R.S. Employer Identification No.)

701 Market Street, St. Louis, Missouri 63101-1826

(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: (314) 342-3400

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Stock, par value $0.01 per share BTU New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On May 5, 2026, Peabody Energy Corporation (“Peabody” or the “Company”) issued a press release setting forth Peabody’s first quarter 2026 financial results and providing guidance on selected second quarter and full-year 2026 targets. A copy of Peabody’s press release is attached hereto as Exhibit 99.1.

The information furnished in this Item 2.02, including Exhibit 99.1 hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filings under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 8.01. Other Events.

On May 5, 2026, the Company issued a press release announcing that its Board of Directors declared a quarterly dividend of $0.075 per share on the Company’s common stock. The dividend is payable on June 8, 2026 to stockholders of record on May 19, 2026.

A copy of the Company’s press release regarding the foregoing is attached hereto as Exhibit 99.2 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No. Description of Exhibit

99.1

Press Release of Peabody Energy Corporation dated May 5, 2026.

99.2

Press Release of Peabody Energy Corporation dated May 5, 2026.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

PEABODY ENERGY CORPORATION

May 5, 2026 By: /s/ Mark A. Spurbeck

Name: Mark A. Spurbeck

Title: Executive Vice President and Chief Financial Officer

EX-99.1

Filename: btu8k20260505ex991.htm · Sequence: 2

Document

Exhibit 99.1

Media Release

Peabody Reports Results for the Quarter Ended March 31, 2026

Thermal Coal Volumes Exceed Expectations on Continued Strong Demand

Seaborne Thermal Results Benefit from Rising Prices

Centurion Mine Progressing Toward Full Longwall Production

ST. LOUIS, May 5, 2026 – Peabody (NYSE: BTU) today reported net income attributable to common stockholders of $(32.4) million, or $(0.27) per diluted share, for the first quarter of 2026, compared to $34.4 million, or $0.27 per diluted share, in the prior-year quarter. Peabody reported Adjusted EBITDA1 of $82.5 million in the first quarter of 2026 compared to $144.0 million in the prior-year quarter.

“Amid volatility in global energy markets, our thermal segments benefited from strong demand and higher realized pricing,” said President and Chief Executive Officer Jim Grech. “While we have extended the Centurion commissioning period, due to temporary equipment and roof control challenges, we continue to advance toward full longwall production rates. Our first quarter results demonstrate the value of our diverse global platform and reflect the durability of coal’s role in providing reliable and affordable power.”

Highlights

•Generated $82.5 million of Adjusted EBITDA in the first quarter, with two segments exceeding volume expectations.

•Delivered year-over-year higher price realizations across both seaborne coal segments, while achieving higher volumes and lower costs versus expectations from the seaborne thermal operations responding to increased demand from the Middle East conflict.

•Working through challenging longwall commissioning conditions at Centurion with continued ramp up in the second quarter. See Centurion Update below for additional information.

•Benefited from continued strength in U.S. thermal markets, with higher volume year-over-year driven by growing electricity demand.

•Advanced rare earth element and critical mineral development, highlighted by promising germanium concentrations from expanded drilling and sampling. The company also continued to progress technical and economic studies, advanced commercial partnerships, and pursued multiple federal and state funding pathways to support domestic supply chain development.

1 Adjusted EBITDA is a non-GAAP financial measure. Adjusted EBITDA margin is equal to segment Adjusted EBITDA divided by segment revenue. Revenue per Ton and Adjusted EBITDA Margin per Ton are equal to revenue by segment and Adjusted EBITDA by segment, respectively, divided by segment tons sold. Costs per Ton is equal to Revenue per Ton less Adjusted EBITDA Margin per Ton. Management believes Costs per Ton and Adjusted EBITDA Margin per Ton best reflect controllable costs and operating results at the reportable segment level. We consider all measures reported on a per ton basis, as well as Adjusted EBITDA margin, to be operating/statistical measures. Please refer to the tables and related notes herein for a reconciliation and definition of non-GAAP financial measures.

•Declared a quarterly dividend of $0.075 per share on May 5, 2026, payable on June 8, 2026 to stockholders of record on May 19, 2026.

First Quarter Segment Performance

Seaborne Thermal

Quarter Ended

Mar. Dec. Mar.

2026 2025 2025

Tons sold (in millions) 3.0 3.3 4.4

Export 1.9 2.1 2.9

Domestic 1.1 1.2 1.5

Revenue per Ton $ 66.61 $ 62.84 $ 60.64

Export - Avg. Realized Price per Ton 86.25 81.80 79.39

Domestic - Avg. Realized Price per Ton 32.62 25.92 24.95

Costs per Ton 50.26 43.43 41.37

Adjusted EBITDA Margin per Ton $ 16.35 $ 19.41 $ 19.27

Adjusted EBITDA (in millions) $ 48.5 $ 63.5 $ 84.2

Seaborne Thermal delivered Adjusted EBITDA of $48.5 million in the first quarter, driven by 0.2 million export shipments above guidance and higher realized prices. Results benefited from increased Asian coal demand due to higher prices of competing LNG products in March as a result of the Middle East conflict. Costs per ton of $50.26 were below the low end of guidance due to higher production at both Australian thermal mines, resulting in 25 percent Adjusted EBITDA margins.

Seaborne Metallurgical

Quarter Ended

Mar. Dec. Mar.

2026 2025 2025

Tons sold (in millions) 2.0 2.5 1.8

Revenue per Ton $ 138.28 $ 122.84 $ 125.15

Costs per Ton 141.72 112.94 117.66

Adjusted EBITDA Margin per Ton $ (3.44) $ 9.90 $ 7.49

Adjusted EBITDA (in millions) $ (7.0) $ 24.6 $ 13.2

Seaborne Metallurgical results were lower than expected due to 0.4 million tons lower volume related to the temporary challenges at Centurion and adverse weather conditions at Coppabella, partially offset by completing an accelerated longwall move at Metropolitan. The segment reported Adjusted EBITDA loss of $7.0 million, including approximately $80 million impact from Centurion, while benefitting from 13 percent higher average realized prices compared to the prior quarter.

Powder River Basin

Quarter Ended

Mar. Dec. Mar.

2026 2025 2025

Tons sold (in millions) 21.2 22.3 19.6

Revenue per Ton $ 13.65 $ 13.44 $ 14.02

Costs per Ton 12.53 11.44 12.18

Adjusted EBITDA Margin per Ton $ 1.12 $ 2.00 $ 1.84

Adjusted EBITDA (in millions) $ 23.7 $ 44.8 $ 36.3

Powder River Basin generated Adjusted EBITDA of $23.7 million in the first quarter, with sales volumes above guidance. Costs per ton of $12.53 were modestly above target, due to sales mix changes and timing of equipment maintenance and repair costs.

Other U.S. Thermal

Quarter Ended

Mar. Dec. Mar.

2026 2025 2025

Tons sold (in millions) 3.3 3.7 3.1

Revenue per Ton $ 55.79 $ 51.64 $ 54.32

Costs per Ton 44.37 46.77 43.71

Adjusted EBITDA Margin per Ton $ 11.42 $ 4.87 $ 10.61

Adjusted EBITDA (in millions) $ 37.8 $ 18.1 $ 32.9

Other U.S. Thermal delivered Adjusted EBITDA of $37.8 million in the first quarter. Volumes were in line with expectations, while costs per ton of $44.37 came in below company targets, reflecting disciplined cost control and higher production at underground operations. The segment reported 20 percent Adjusted EBITDA margins.

-----------

Centurion Update

During initial longwall commissioning, electrical and mechanical issues, now resolved, constrained cutting speeds which contributed to temporary challenges to roof conditions. The company implemented a comprehensive response plan focused on proactive strata management, targeted equipment optimization, and deployment of additional technical and operational resources. The Company anticipates completing commissioning and production ramp-up in the second quarter, and running at full longwall production rates throughout the second half of the year.

The company expects Centurion to sell approximately 0.3 million tons in the second quarter. The longwall move initially planned for the fourth quarter is now expected in early 2027, leading to full year 2026 volume of 2.5 million tons compared to the original 3.5 million ton expectation.

“While this was not the start we had anticipated, we quickly mobilized the most experienced engineering and operating personnel to address the challenges,” said Mr. Grech. “The team has responded safely and effectively, stabilizing performance and positioning the operation for increased production moving forward.”

Second Quarter 2026 Outlook

Seaborne Thermal

•Volume is expected to be 3.0 million tons, including 1.9 million export tons. 0.3 million export tons are priced at approximately $64.60 per ton, and 1.0 million tons of Newcastle product and 0.6 million tons of high ash product are unpriced. Costs are anticipated to be $57—$62 per ton.

Seaborne Metallurgical

•Seaborne met volumes are expected to be 2.3 million tons and are expected to achieve approximately 75 percent of the premium hard coking coal price index. Costs are anticipated to be $145—$150 per ton.

U.S. Thermal

•PRB volume is expected to be 19 million tons at an average price of $13.50 per ton and costs of approximately $13.00—$13.50 per ton.

•Other U.S. Thermal volume is expected to be 3.4 million tons at an average price of $54.50 per ton and costs of approximately $45—$49 per ton.

Today’s earnings call is scheduled for 10 a.m. CT and can be accessed via the company’s website at PeabodyEnergy.com.

Peabody (NYSE: BTU) is a leading coal producer, providing essential products for the production of affordable, reliable energy and steel. Our commitment to sustainability underpins everything we do and shapes our strategy for the future. For further information, visit PeabodyEnergy.com.

Contact:

Kala Finklang

Email: ir@peabodyenergy.com

Guidance Targets

Segment Performance

2026 Full Year

Total Volume (millions of

short tons) Priced Volume (millions of short tons) Priced Volume Pricing per Short Ton Average Cost per Short Ton

Seaborne Thermal 12.0 - 13.0 6.7 $48.93 $49.50 - $54.50

Seaborne Thermal (Export) 7.5 - 8.5 2.2 $82.94 N/A

Seaborne Thermal (Domestic) 4.5 4.5 $32.31 N/A

Seaborne Metallurgical 9.3 - 10.3 3.0 $138.84 $123.00 - $133.00

PRB U.S. Thermal 82.0 - 88.0 80.5 $13.50 $11.75 - $12.25

Other U.S. Thermal 13.2 - 14.2 13.4 $55.25 $45.00 - $49.00

Other Annual Financial Metrics ($ in millions)

2026 Full Year

SG&A $115

Total Capital Expenditures $340

ARO Cash Spend $65

Supplemental Information

Seaborne Thermal 50% of unpriced export volumes are expected to price on average at Globalcoal “NEWC” levels and 50% are expected to have a higher ash content and price at 85-95% of API 5 price levels.

Seaborne Metallurgical On average, Peabody's metallurgical sales are anticipated to price at ~80% of the premium hard-coking coal index price (FOB Australia).

PRB and Other U.S. Thermal PRB and Other U.S. Thermal volumes reflect volumes priced at March 31, 2026. Weighted average quality for the PRB segment 2026 volume is approximately 8,725 BTU.

Certain forward-looking measures and metrics presented are non-GAAP financial and operating/statistical measures. Due to the volatility and variability of certain items needed to reconcile these measures to their nearest GAAP measure, no reconciliation can be provided without unreasonable cost or effort.

Condensed Consolidated Statements of Operations (Unaudited)

For the Quarters Ended Mar. 31, 2026, Dec. 31, 2025 and Mar. 31, 2025

(In Millions, Except Per Share Data)

Quarter Ended

Mar. Dec. Mar.

2026 2025 2025

Revenue $ 973.3 $ 1,022.3 $ 937.0

Operating Costs and Expenses (1)

864.7 878.4 770.2

Depreciation, Depletion and Amortization 109.5 99.0 92.1

Asset Retirement Obligation Expenses 13.6 (4.8) 13.6

Selling and Administrative Expenses 31.6 30.5 23.6

Restructuring Charges 1.1 0.3 1.7

Costs Related to Terminated Acquisition 3.0 3.7 2.4

Net Gain on Disposals (11.7) (2.4) (5.2)

Loss from Equity Affiliates 5.7 4.2 6.7

Other Operating Loss — 5.6 —

Operating (Loss) Profit (44.2) 7.8 31.9

Interest Expense, Net of Capitalized Interest 10.7 11.3 11.5

Interest Income (13.1) (12.3) (15.4)

Net Periodic Benefit Credit, Excluding Service Cost (0.4) (7.4) (7.4)

Net Mark-to-Market Adjustment on Actuarially Determined Liabilities — (5.4) —

(Loss) Income from Continuing Operations Before Income Taxes (41.4) 21.6 43.2

Income Tax (Benefit) Provision (16.0) 10.0 4.9

(Loss) Income from Continuing Operations, Net of Income Taxes (25.4) 11.6 38.3

(Loss) Income from Discontinued Operations, Net of Income Taxes (0.2) 0.8 (0.3)

Net (Loss) Income (25.6) 12.4 38.0

Less: Net Income Attributable to Noncontrolling Interests 6.8 2.0 3.6

Net (Loss) Income Attributable to Common Stockholders $ (32.4) $ 10.4 $ 34.4

Adjusted EBITDA (2)

$ 82.5 $ 118.1 $ 144.0

Diluted EPS - (Loss) Income from Continuing Operations (3)(4)

$ (0.26) $ 0.08 $ 0.27

Diluted EPS - Net (Loss) Income Attributable to Common Stockholders (3)

$ (0.27) $ 0.09 $ 0.27

(1) Excludes items shown separately.

(2) Adjusted EBITDA is a non-GAAP financial measure. Refer to the “Reconciliation of Non-GAAP Financial Measures” section in this document for definitions and reconciliations to the most comparable measures under U.S. GAAP.

(3)

Weighted average diluted shares outstanding were 122.0 million, 123.0 million and 138.7 million during the quarters ended March 31, 2026, December 31, 2025 and March 31, 2025, respectively.

(4) Reflects (loss) income from continuing operations, net of income taxes less net income attributable to noncontrolling interests.

This information is intended to be reviewed in conjunction with the company's filings with the SEC.

Condensed Consolidated Balance Sheets

As of Mar. 31, 2026 and Dec. 31, 2025

(Dollars In Millions)

(Unaudited)

Mar. 31, 2026 Dec. 31, 2025

Cash and Cash Equivalents

$ 492.5 $ 575.3

Accounts Receivable, Net

309.5 314.9

Inventories, Net 405.5 383.2

Other Current Assets

303.8 285.4

Total Current Assets

1,511.3 1,558.8

Property, Plant, Equipment and Mine Development, Net

3,129.9 3,153.3

Operating Lease Right-of-Use Assets 128.9 121.2

Restricted Cash and Collateral 811.3 844.1

Investments and Other Assets

126.3 127.6

Deferred Income Taxes

2.3 2.2

Total Assets

$ 5,710.0 $ 5,807.2

Current Portion of Long-Term Debt

$ 14.3 $ 15.2

Accounts Payable and Accrued Expenses

795.6 827.0

Total Current Liabilities

809.9 842.2

Long-Term Debt, Less Current Portion

320.9 321.2

Deferred Income Taxes

3.5 26.3

Asset Retirement Obligations, Less Current Portion 694.4 692.8

Accrued Postretirement Benefit Costs

108.8 109.2

Operating Lease Liabilities, Less Current Portion

94.4 87.5

Other Noncurrent Liabilities

138.0 145.8

Total Liabilities

2,169.9 2,225.0

Common Stock

1.9 1.9

Additional Paid-in Capital

4,010.3 4,004.8

Treasury Stock

(1,930.6) (1,927.3)

Retained Earnings 1,314.2 1,355.9

Accumulated Other Comprehensive Income

99.4 101.1

Peabody Energy Corporation Stockholders' Equity

3,495.2 3,536.4

Noncontrolling Interests

44.9 45.8

Total Stockholders' Equity

3,540.1 3,582.2

Total Liabilities and Stockholders' Equity

$ 5,710.0 $ 5,807.2

This information is intended to be reviewed in conjunction with the company's filings with the SEC.

Condensed Consolidated Statements of Cash Flows (Unaudited)

For the Quarters Ended Mar. 31, 2026, Dec. 31, 2025 and Mar. 31, 2025

(Dollars In Millions)

Quarter Ended

Mar. Dec. Mar.

2026 2025 2025

Cash Flows From Operating Activities

Net Cash Provided By Continuing Operations $ 30.6 $ 69.2 $ 120.5

Net Cash Used in Discontinued Operations

(0.6) (0.6) (0.6)

Net Cash Provided By Operating Activities 30.0 68.6 119.9

Cash Flows From Investing Activities

Additions to Property, Plant, Equipment and Mine Development

(85.4) (130.6) (70.4)

Changes in Accrued Expenses Related to Capital Expenditures (37.1) 24.6 (38.6)

Proceeds from Disposal of Assets, Net of Receivables

5.4 15.9 7.2

Contributions to Joint Ventures

(165.6) (165.7) (138.3)

Distributions from Joint Ventures

160.2 162.8 150.8

Other, Net

(1.0) (0.8) (0.3)

Net Cash Used In Investing Activities (123.5) (93.8) (89.6)

Cash Flows From Financing Activities

Repayments of Long-Term Debt

(2.4) (2.3) (2.8)

Payment of Debt Issuance and Other Deferred Financing Costs

— — (1.7)

Repurchase of Employee Common Stock Relinquished for Tax Withholding

(3.3) — (0.8)

Dividends Paid

(9.2) (9.0) (9.1)

Distributions to Noncontrolling Interests

(7.7) (0.1) (14.7)

Net Cash Used In Financing Activities (22.6) (11.4) (29.1)

Net Change in Cash, Cash Equivalents and Restricted Cash

(116.1) (36.6) 1.2

Cash, Cash Equivalents and Restricted Cash at Beginning of Period

1,284.5 1,321.1 1,382.6

Cash, Cash Equivalents and Restricted Cash at End of Period

$ 1,168.4 $ 1,284.5 $ 1,383.8

This information is intended to be reviewed in conjunction with the company's filings with the SEC.

Reconciliation of Non-GAAP Financial Measures (Unaudited)

For the Quarters Ended Mar. 31, 2026, Dec. 31, 2025 and Mar. 31, 2025

(Dollars In Millions)

Note: Management believes that non-GAAP financial measures are used by investors to measure our operating performance. These measures are not intended to serve as alternatives to U.S. GAAP measures of performance and may not be comparable to similarly-titled measures presented by other companies.

Quarter Ended

Mar. Dec. Mar.

2026 2025 2025

(Loss) Income from Continuing Operations, Net of Income Taxes $ (25.4) $ 11.6 $ 38.3

Depreciation, Depletion and Amortization 109.5 99.0 92.1

Asset Retirement Obligation Expenses 13.6 (4.8) 13.6

Restructuring Charges 1.1 0.3 1.7

Costs Related to Terminated Acquisition 3.0 3.7 2.4

Changes in Amortization of Basis Difference Related to Equity Affiliates (0.6) (0.8) (0.6)

Other Operating Loss — 5.6 —

Interest Expense, Net of Capitalized Interest 10.7 11.3 11.5

Interest Income (13.1) (12.3) (15.4)

Net Mark-to-Market Adjustment on Actuarially Determined Liabilities — (5.4) —

Unrealized (Gains) Losses on Foreign Currency Option Contracts (0.3) 0.1 (4.3)

Take-or-Pay Contract-Based Intangible Recognition — (0.2) (0.2)

Income Tax (Benefit) Provision (16.0) 10.0 4.9

Adjusted EBITDA (1)

$ 82.5 $ 118.1 $ 144.0

Operating Costs and Expenses

$ 864.7 $ 878.4 $ 770.2

Unrealized Gains (Losses) on Foreign Currency Option Contracts 0.3 (0.1) 4.3

Take-or-Pay Contract-Based Intangible Recognition

— 0.2 0.2

Net Periodic Benefit Credit, Excluding Service Cost (0.4) (7.4) (7.4)

Total Segment Costs (2)

$ 864.6 $ 871.1 $ 767.3

(1) Adjusted EBITDA is defined as (loss) income from continuing operations before deducting net interest expense, income taxes, asset retirement obligation expenses and depreciation, depletion and amortization. Adjusted EBITDA is also adjusted for the discrete items that management excluded in analyzing the reportable segments’ operating performance, as displayed in the reconciliation above. Adjusted EBITDA is used by the chief operating decision maker as the primary financial metric to measure each segment's operating performance against expected results and to allocate resources, including capital investment in mining operations and potential expansions.

(2) Total Segment Costs is defined as operating costs and expenses adjusted for the discrete items that management excluded in analyzing each reportable segment's operating performance, as displayed in the reconciliation above. Total Segment Costs is used by management as a component of a metric to measure each segment's operating performance.

This information is intended to be reviewed in conjunction with the company's filings with the SEC.

Supplemental Financial Data (Unaudited)

For the Quarters Ended Mar. 31, 2026, Dec. 31, 2025 and Mar. 31, 2025

Quarter Ended

Mar. Dec. Mar.

2026 2025 2025

Tons Sold (In Millions) 29.6 31.9 28.9

Revenue Summary (In Millions)

Seaborne Thermal $ 197.5 $ 205.6 $ 265.1

Seaborne Metallurgical 283.0 305.4 220.1

Powder River Basin 289.5 300.3 275.6

Other U.S. Thermal 184.5 191.5 168.7

Total U.S. Thermal 474.0 491.8 444.3

Corporate and Other 18.8 19.5 7.5

Total $ 973.3 $ 1,022.3 $ 937.0

Total Segment Costs Summary (In Millions) (1)

Seaborne Thermal $ 149.0 $ 142.1 $ 180.9

Seaborne Metallurgical 290.0 280.8 206.9

Powder River Basin 265.8 255.5 239.3

Other U.S. Thermal 146.7 173.4 135.8

Total U.S. Thermal 412.5 428.9 375.1

Corporate and Other 13.1 19.3 4.4

Total $ 864.6 $ 871.1 $ 767.3

Other Supplemental Financial Data (In Millions)

Adjusted EBITDA - Seaborne Thermal $ 48.5 $ 63.5 $ 84.2

Adjusted EBITDA - Seaborne Metallurgical (7.0) 24.6 13.2

Adjusted EBITDA - Powder River Basin 23.7 44.8 36.3

Adjusted EBITDA - Other U.S. Thermal 37.8 18.1 32.9

Adjusted EBITDA - Total U.S. Thermal 61.5 62.9 69.2

Middlemount (5.0) (1.0) (6.9)

Resource Management Results (2)

14.0 11.4 5.5

Selling and Administrative Expenses (31.6) (30.5) (23.6)

Other Operating Costs, Net (3)

2.1 (12.8) 2.4

Adjusted EBITDA (1)

$ 82.5 $ 118.1 $ 144.0

(1) Total Segment Costs and Adjusted EBITDA are non-GAAP financial measures. Refer to the “Reconciliation of Non-GAAP Financial Measures” section in this document for definitions and reconciliations to the most comparable measures under U.S. GAAP.

(2) Includes gains (losses) on certain surplus coal reserve, coal resource and surface land sales and property management costs and revenue.

(3) Includes trading and brokerage activities, costs associated with post-mining activities, gains (losses) on certain asset disposals, minimum charges on certain transportation-related contracts, results from the Company’s other equity method investments, costs associated with suspended operations, holding costs associated with the Centurion Mine, the impact of foreign currency remeasurement and expenses related to the Company’s other commercial activities.

This information is intended to be reviewed in conjunction with the company's filings with the SEC.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the securities laws. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words or variation of words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "projects," "forecasts," "targets," "would," "will," "should," "goal," "could" or "may" or other similar expressions. Forward-looking statements provide management's or the Board’s current expectations or predictions of future conditions, events, or results. All statements that address operating performance, events, or developments that may occur in the future are forward-looking statements, including statements regarding the shareholder return framework, execution of the Company’s operating plans, market conditions for the Company’s products, reclamation obligations, financial outlook, potential acquisitions and strategic investments, and liquidity requirements. All forward-looking statements speak only as of the date they are made and reflect Peabody's good faith beliefs, assumptions, and expectations, but they are not guarantees of future performance or events. Furthermore, Peabody disclaims any obligation to publicly update or revise any forward-looking statement, except as required by law. By their nature, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Factors that might cause such differences include, but are not limited to, a variety of economic, competitive, and regulatory factors, many of which are beyond Peabody's control, that are described in Peabody's periodic reports filed with the SEC including its Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2025, and other factors that Peabody may describe from time to time in other filings with the SEC. You may get such filings for free at Peabody's website at www.peabodyenergy.com. You should understand that it is not possible to predict or identify all such factors and, consequently, you should not consider any such list to be a complete set of all potential risks or uncertainties.

EX-99.2

Filename: btu8k20260505ex992.htm · Sequence: 3

Document

Exhibit 99.2

Media Release

Peabody Board Declares Dividend on Common Stock

ST. LOUIS, May 5, 2026 – Peabody (NYSE: BTU) announced today that its Board of Directors has declared a quarterly dividend on its common stock of $0.075 per share, payable on June 8, 2026 to stockholders of record on May 19, 2026.

Peabody is a leading coal producer, providing essential products for the production of affordable, reliable energy and steel. Our commitment to sustainability underpins everything we do and shapes our strategy for the future. For further information, visit PeabodyEnergy.com.

Contact:

Kala Finklang

ir@peabodyenergy.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the securities laws. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words or variation of words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "projects," "forecasts," "targets," "would," "will," "should," "goal," "could" or "may" or other similar expressions. Forward-looking statements provide management's current expectations or predictions of future conditions, events or results. All statements that address operating performance, events, or developments that Peabody expects will occur in the future are forward-looking statements. They may include estimates of sales and other operating performance targets, cost savings, capital expenditures, dividends, share repurchases, other expense items, actions relating to strategic initiatives, demand for the company’s products, liquidity, capital structure, market share, industry volume, other financial items, descriptions of management’s plans or objectives for future operations and descriptions of assumptions underlying any of the above. The declaration and payment of future quarterly dividends remains at the discretion of the Board of Directors and will depend on the Company's financial results, cash flow and cash requirements, future prospects, and other factors deemed relevant by the Board. All forward-looking statements speak only as of the date they are made and reflect Peabody’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance or events. Furthermore, Peabody disclaims any obligation to publicly update or revise any forward-looking statement, except as required by law. By their nature, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Factors that might cause such differences include, but are not limited to, a variety of economic, competitive and regulatory factors, many of which are beyond Peabody’s control, that are described in Peabody’s Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2025, and other factors that Peabody may describe from time to time in other filings with the SEC. You may get such filings for free at Peabody’s website at www.peabodyenergy.com. You should understand that it is not possible to predict or identify all such factors and, consequently, you should not consider any such list to be a complete set of all potential risks or uncertainties.

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