Aug 1 (Reuters) - Peabody Energy Corp BTU.N
* Peabody reports earnings for quarter ended June 30, 2017; formalizes debt reduction and capital return initiatives
* Q2 revenue $1.26 billion
* Qtrly net loss attributable to common stockholders $0.21 per share
* Sees FY U.S. Sales volumes of 148 million to 153 million short tons
* Sold 43.6 million tons in quarter versus 39.8 million tons last year
* Within industry, U.S. coal demand remained strong through first half of 2017 relative to same period in prior year
* Q2 revenue view $1.26 billion -- Thomson Reuters I/B/E/S
* Sees FY Australia sales volumes of 31 million to 33 million short tons
* Sees FY capital expenditures between $165 million to $195 million
* Sees FY total U.S. revenues per ton $18.50 - $18.90
* sees fy total u.s. Costs per ton $14.00 - $14.40
* Is targeting $500 million of debt reduction over 18 months, with $300 million of debt reduction expected to occur by year-end 2017
* Sees FY total australia costs per ton $51 - $54
* Board of directors has authorized a $500 million share repurchase program effective immediately
* Board of directors will regularly evaluate sustainable dividend program, targeting commencement in Q1 of 2018
* Now expects to extend life of moorvale mine resulting in approximately 1.5 million tons of additional metallurgical coal production in 2021
* Expects FY 2017 seaborne thermal coal demand to be roughly in line with 2016 levels driven by strong year-to-date chinese imports
* Peabody expects modest annual U.S. cash tax outlays of $5 million to $10 million in coming years
* Qtrly loss from continuing operations $0.18