Find Investopedia on | | | THIS WEEK'S NEWSLETTER IS SPONSORED BY: | | Coal Boom Continues For Peabody | Coal producer Peabody Energy (NYSE:BTU) continued its trend of strong profits, as it reported robust first quarter earnings. The quarter's results were achieved despite problems from flooding of Peabody's key Australian operations. Australian pricing helped drive total company revenues in the quarter to $1.74 billion, up from $1.52 billion in the quarter a year ago. Consolidated company sales totaled 61.2 million tons, an increase from 58.3 million tons. While U.S. sales advanced by 9 percent, Australian sales fell by nearly 10 percent to 5.6 million tons due to the flooding. Metallurgical and seaborne thermal coal shipment prices increased 43 percent per ton in Australia. The higher pricing was offset by $70 million due to the impact on EDITDA with the effects of rains and other costs. Peabody also made progress on a number of mine expansions in its Australia operations. Related Reading : Nucor Gains Strength, Ensco Ready For The Future | 4 Banks That Reported Loan Growth | Many banks reported a profit in the first quarter of 2011, but struggled with growing loans as weak demand continued to impact many parts of the economy. There were a few institutions that managed to grow loan balances on either a sequential or year-over-year basis. Huntington Bancshares (Nasdaq:HBAN) reported a 3% annualized growth in average total loans in the first quarter of 2011, compared to the final quarter of 2010. The bank cited particularly strong annualized growth in commercial and industrial loans and automobile loans, which were up 11% and 13%, respectively. Commercial real estate loans and other consumer loans were the weakest areas with annualized declines of 16% and 12%, respectively. (Learn more about commercial real estate. see Find Fortune In Commercial Real Estate.) Related Reading :Betting On America's Underbanked , PNC Financial: On Track And Underpriced | | Find Stock Watch Weekly Useful? Check out our other FREE newsletters!
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