Peabody Energy

World's largest private-sector coal company.

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Headquarters:
701 Market St.
St. Louis, MO 63101
Employees: 8,200
CEO: Gregory Boyce
Stock Symbol: BTU

Website: http://www.peabodyenergy.com

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Peabody Energy is the world’s largest private-sector coal company and a global leader in sustainable mining and clean coal solutions. The company serves metallurgical and thermal coal customers in nearly 30 countries on six continents.

Peabody’s global platform reaches six continents and creates a strategic advantage. The company has approximately 9 billion tons of proven and probable coal reserves and owns, through its subsidiaries, majority interests in 28 coal operations located throughout all major U.S. coal-producing regions and in Australia.

Peabody markets, brokers and trades coal in the world’s fastest-growing economies. Peabody has trading and business offices in China, Australia, the United Kingdom, Singapore, Indonesia, Germany, Mongolia, India and the United States. Other energy-related commercial initiatives include the development of supercritical generation, the management of vast coal reserves, and Btu Conversion technologies to transform coal to natural gas and transportation fuels.

Peabody reported record revenues of $8.08 billion in 2012, a 2% increase, and net loss of $575.1 million. Revenues was driven by increased Australian volume and higher U.S. prices.

Coal finished the year with a 38 percent share of U.S. electricity generation compared with a 29 percent natural gas market share.

History

With an eager partner and start-up capital of just $100, 24-year-old Yale graduate Francis S. Peabody founded a retail coal business in Chicago in 1883.

Bolstered by his father's business connections and his own political prowess, business prospered, and Peabody bought out his partner and began to source his own coal. In 1895, he opened his first coal mine in Williamson County, Ill., and started acquiring thousands of acres of the Illinois Basin's vast reserves.

At the beginning of the 20th century, virtually all home heating was directly coal-fueled. Railroads, ships and industry also used an enormous amount of coal, demand that made Peabody's young company thrive. As electric utilities brought convenient, efficient power to city dwellers and eventually to rural America, the demand for coal increased, even as gas began capturing home heating markets, and diesel-powered rail locomotives were introduced. Capitalizing on the growth in electricity generation, Peabody signed his first long-term coal supply agreement with an electric utility in 1913 as he continued to acquire new mines.

After several acquisitions and mergers, the company's name changed to Peabody Energy in 2001, reflecting its position as the leading coal company and a premier energy supplier.

Updated December 1, 2013