Earnings Review (BP plc, BTU, RYN)

BP plc (ADR)  (NYSE:BP) shares trading higher by 3.63% in the pre-market session after the company said that it earned $4.91 billion, or $1.55 an American depositary share, compared to a year ago profit of $1.79 billion, or 57 cents an ADS. Adjusted replacement-cost profit, stripping out non-operating items and accounting adjustments for fair value, was $5.3 billion, down 4%.

Peabody Energy Corporation  (NYSE:BTU) shares slid 69 cents or 1.69% after it posted a profit of $274.1 million, or $1 per share on revenues of $2.04 billion in its third quarter. On an adjusted basis, the company earned 87 cents a share, missing analyst estimates of $0.90 a share on revenue of $1.99 billion.

Separately, Peabody says the steel maker ArcelorMittal has pulled out of their joint bid to buy Australia’s Macarthur Coal Ltd. for about $5 billion, and will sell its interest to Peabody.

Rayonier Inc.  (NYSE:RYN) said that it earned Q3 profit of $104.9 million, or 84 cents a share on revenue of $385.1 million. On an adjusted, the company earned 71 cents a share, compared to analysts’ estimates of 54 cents on revenue of $389 million.

The company also lifted its full-year earnings outlook to $2.07 to $2.15 a share from its April forecast of $1.90 to $2.07 a share.


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