July 28 (Reuters) - Peabody Energy Corp BTU.N :
* Announces results for the quarter ended June 30, 2015
* Q2 adjusted loss per share $0.65
* Q2 loss per share $3.71 from continuing operations
* Q2 revenue $1.34 billion versus I/B/E/S view $1.44 billion
* Q2 earnings per share view $-0.61 -- Thomson Reuters I/B/E/S
* Says U.S. costs per ton are targeted to improve 3 to 5 percent in 2015
* Sold 51.9 million tons in Q2 versus 61.7 million tons last year
* Says U.S. revenues per ton are targeted to decline 3 to 5 percent in 2015
* Says reducing annual metallurgical coal sales targets by 1 million tons
* Says now targeting nearly 20% improvement in 2015 Australian costs per ton
* -2015 U.S. production is fully priced with 2016 U.S. production approximately
30 to 40 percent unpriced based on 2015 production levels
* Peabody accelerated a number of initiatives in the second quarter to reduce
operating costs"
* Says in Q2 seaborne and U.S. coal pricing declined, reflecting slower global
economic growth, declining steel demand
* Says 2015 Australian costs per ton are targeted to be nearly 20 percent below
2014 levels
* Says second quarter results include impairment charges of $900.8 million
* Q3 adjusted EBITDA is expected to reflect lower seaborne metallurgical coal
pricing, higher prb shipments
* Says in seaborne thermal markets, prices remain constrained due to a 3
percent decline in China's thermal coal generation through June
* Peabody-limited industry capital investment in recent years to prove
insufficient to maintain seaborne metallurgical coal production levels over
time
* Says 51 million tonne decline in China's thermal imports more than offset
import growth of 23 million tonnes in India
* Says company now targets a workforce reduction of more than 300 positions
across multiple mines in Australia
* Total 2015 sales volumes expected to be 225 - 245 million tons
* Says when fully implemented later this year, these reductions are expected to
save $40 to $45 million per year
* Says actions include reducing annualized metallurgical coal production by 1.5
million tons at the north goonyella
* Says initiated the reduction of approximately 250 corporate and regional
positions to create a leaner organization and lower costs
* U.S 2015 sales volumes expected to be 180 - 190 million tons
* Says board of directors also authorized a reverse split of common stock,
subject to shareholder approval
* Number of authorized, issued and outstanding shares would be reduced, among
five alternative ratios between 1-for-8 and 1-for-20
* Source text for Eikon ID:nPn2DVCCj
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