Cloud Peak beats 4Q profit forecasts

Cloud Peak Energy tops 4Q earnings expectations, misses revenue forecasts

GILLETTE, Wyo. (AP) _ Cloud Peak Energy Inc. (CLD) on Wednesday reported fourth-quarter net income of $24.5 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Gillette, Wyoming-based company said it had net income of 39 cents.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.

The coal miner posted revenue of $227.9 million in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $235.6 million.

For the year, the company reported net income of $21.8 million, or 35 cents per share, swinging to a profit in the period. Revenue was reported as $800.4 million.

Cloud Peak shares have climbed almost 1 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $5.66, nearly quadrupling in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CLD at https://www.zacks.com/ap/CLD

_____

Keywords: Cloud Peak Energy, Earnings Report

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...