BTU_8-K 2014.02.11

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT



Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 11, 2014

PEABODY ENERGY CORPORATION
(Exact name of registrant as specified in its charter)

Delaware	1-16463	13-4004153
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(I.R.S. Employer Identification No.)

701 Market Street, St. Louis, Missouri			63101-1826
(Address of principal executive offices)			(Zip Code)

Registrant's telephone number, including area code: (314) 342-3400

N/A
(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01 Regulation FD Disclosure.

Peabody Energy Corporation ("Peabody") management will meet with a group of investors in Vail, Colorado on February 11, 2014. In addition, Vic Svec, Peabody's Senior Vice President, Global Investor and Corporate Communications, will present to attendees of the Credit Suisse 2014 Energy Summit in Vail, Colorado on February 12, 2014. A copy of the related written presentation is furnished as Exhibit 99.1 hereto.

The information furnished in this Item 7.01, including Exhibit 99.1 hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filings under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.



Exhibit No.	Description of Exhibit
99.1	Peabody management written presentation dated February 12, 2014.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.



	PEABODY ENERGY CORPORATION

February 11, 2014	By: /s/ Kenneth L. Wagner
	Name: Kenneth L. Wagner
	Title: Vice President, Assistant General Counsel and Assistant Secretary

EXHIBIT INDEX




Exhibit No.	Description
99.1	Peabody management written presentation dated February 12, 2014.

BTU_8-K 2014.02.11 EXH99.1

Exhibit 99.1

Life Empowered

Credit Suisse 2014 Energy Summit

February 12, 2014

Vic Svec Senior Vice President Global Investor and Corporate Relations

Peabody Energy

Statement on Forward-Looking Information Peabody Energy

Certain statements in this press release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. The company uses words such as “anticipate,” “believe,” “expect,” “may,” “forecast,” “project,” “should,” “estimate,” “plan,” “outlook,” “target” or other similar words to identify forward-looking statements. These forward-looking statements are based on numerous assumptions that the company believes are reasonable, but they are open to a wide range of uncertainties and business risks that may cause actual results to differ materially from expectations as of February 12, 2014. These factors are difficult to accurately predict and may be beyond the company’s control. The company does not undertake to update its forward-looking statements. Factors that could affect the company’s results include, but are not limited to: global supply and demand for coal, including the seaborne thermal and metallurgical coal markets; price volatility, particularly in higher-margin products and in the company’s trading and brokerage businesses; impact of alternative energy sources, including natural gas and renewables; global steel demand and the downstream impact on metallurgical coal prices; impact of weather and natural disasters on demand, production and transportation; reductions and/or deferrals of purchases by major customers and ability to renew sales contracts; credit and performance risks associated with

customers, suppliers, contract miners, co-shippers, and trading, banks and other financial counterparties; geologic, equipment, permitting, site access and operational risks related to mining; transportation availability, performance and costs; availability, timing of delivery and costs of key supplies, capital equipment or commodities such as diesel fuel, steel, explosives and tires; impact of take-or-pay agreements with rail and port commitments for the delivery of coal; successful implementation of business strategies; negotiation of labor contracts, employee relations and workforce availability; changes in postretirement benefit and pension obligations and funding requirements; replacement and development of coal reserves; availability, access to and related cost of capital and financial markets; effects of changes in interest rates and currency exchange rates (primarily the Australian dollar); effects of acquisitions or divestitures; economic strength and political stability of countries in which the company has operations or serves customers; legislation, regulations and court decisions or other government actions, including, but not limited to, new environmental and mine safety requirements; changes in income tax regulations, sales-related royalties, or other regulatory taxes and changes in derivative laws and regulations; litigation, including claims not yet asserted; and other risks detailed in the company’s reports filed with the Securities and Exchange Commission (SEC).

Adjusted EBITDA is defined as (loss) income from continuing operations before deducting net interest expense, income taxes, asset retirement obligation expenses, depreciation, depletion and amortization, asset impairment and mine closure costs, charges for the settlement of claims and litigation related to previously divested operations and amortization of basis difference associated with equity method investments. Adjusted EBITDA, which is not calculated identically by all companies, is not a substitute for operating income, net income or cash flow as determined in accordance with United States GAAP. Management uses Adjusted EBITDA as the primary metric to measure segment operating performance and also believes it is useful to investors in comparing the company’s current results with those of prior and future periods and in evaluating the company’s operating performance without regard to its capital structure or the cost basis of its assets.

Adjusted (Loss) Income from Continuing Operations and Adjusted Diluted EPS are defined as (loss) income from continuing operations and diluted earnings per share from continuing operations, respectively, excluding the impacts of asset impairment and mine closure costs and charges for the settlement of claims and litigation related to previously divested operations, net of tax, and the remeasurement of foreign income tax accounts on our income tax provision. The income tax benefits related to asset impairment and mine closure costs and charges for the settlement of claims and litigation related to previously divested operations are calculated based on the enacted tax rate in the jurisdiction in which they have been or will be realized, adjusted for the estimated recoverability of those benefits. Management has included these measures because, in the opinion of management, excluding those foregoing items is useful in comparing the company’s current results with those of prior and future periods. Management also believes that excluding the impact of the remeasurement of foreign income tax accounts represents a meaningful indicator of the company's ongoing effective tax rate.

2/12/14

Peabody Well Positioned with Significant Upside as Markets Improve

Peabody Energy

Leveraging significant cost reductions, tight capital spending and operational excellence

Leading presence in high-growth Pacific Rim region and low-cost U.S. basins

SPRB and ILB best positioned to benefit from rising U.S. coal demand

Seaborne market expected to improve in 2014 with demand growth exceeding supply increases

BTU Delivers Notable 2013 Accomplishments

Peabody Energy

Achieved safest incidence rate in company history

Cost containment efforts led to $340 million in savings

Lowered capital expenditures by 67%

Credit facility refinancing extends maturities and adds financial flexibility

Generated $700+ million operating cash flow to allow for more than $200 million in debt reduction

Results from continuing operations.

Global Coal Markets

Annual World Coal Use Expected to Grow 700 Million Tonnes Over Next Three Years

Peabody Energy

Expected Global Coal Demand (Tonnes in Millions) 0 1,500 3,000 4,500 6,000 7,500 9,000

ROW China India

2013E 2,925 4,130 780 7,835 2014P 2,950 4,295 810 8,055 2016P 3,075 4,570 890 8,535

Record global coal use expected to continue on growing electricity and steel demand

New coal-fueled generation of ~250 GW expected by 2016

Coal increasingly converted to gas in Asia

China and India drive nearly 80% of global demand growth

Source: Peabody Global Analytics.

Metallurgical Coal Fundamentals Projected to Improve in 2014

Peabody Energy

Rising Global Steel Demand from Industrialization and Urbanization

China becomes largest metallurgical coal importer; rising costs, declining domestic quality support additional imports

Global metallurgical coal pricing constrained on higher seaborne supplies in 2013

Demand growth expected to exceed supply increases in 2014 with slowdown of new projects and closure of high-cost mines

Seaborne metallurgical coal demand expected to grow 10 - 15% through 2016

Source: Peabody Global Analytics.

New Generation Expected to Drive Significant Global Thermal Coal Demand

Peabody Energy

Projected Seaborne Thermal Coal Demand (Tonnes in Millions)

2013E 2014P 2016P Atlantic Other Pacific China India

0 200 400 600 800 1,000 1,200

-20 +55 +40 +40 955 985 - 995 1,070

Expected new coal-fueled generation requires 750 million tonnes of annual coal use at expected capacity utilization

Asia accounts for all seaborne thermal growth

China coal use to increase as new plants and coal conversion facilities offset lower direct use in homes and businesses

Source: Peabody Global Analytics, McCloskey, other industry sources.

China, India Account for Nearly 80% of Projected Global Coal Demand Growth

Peabody Energy

China and India Coal Imports (Tonnes in Millions)

India China 0 100 200 300 400 2013E 2014P 2016P

168 185 220 327 345 380

Record coal imports in 2013 ~325 million tonnes in China ~170 million tonnes in India

China and India coal imports expected to grow ~100 million tonnes by 2016

Significant new coal generation driving demand ~110 GW in China ~45 GW in India

China closing marginal cost production Costs rising >10% per year

New port projects underway to enable greater imports

Source: Peabody Global Analytics, China Customs, India Market Watch.

China Expected to Follow U.S. Path of Greater Coal Use, Decreasing Emissions

Peabody Energy

U.S. Emissions Decline 87% Since 1970 as Coal Use Nearly Triples

1970 1980 1990 2000 2011 -100% -50% 0% 50% 100% 150%

Coal-Based Power Generation +170% GDP per Capita +103% Regulated Emissions/MWh from Coal -87%

China coal use projected to continue to increase as consumption patterns shift Closing older plants Reducing direct use of coal in residences and businesses Deploying emissions controls on existing fleet Building advanced supercritical coal plants Investing in more than 20 coal-to-gas projects

Source: USDA 2011; Energy Information Administration 2012; U.S. EPA Air Trends Data, 2012; Peabody analysis 2012. GDP in 2005 dollars.

U.S. Markets Improving as Coal Demand Continues to Rise in 2014

Peabody Energy

SPRB Utility Stockpiles (Days Use)

Inventories ~50% below 2012 peak levels

May 2012 Aug. 2012 Nov. 2012 Feb. 2013 May 2013 Aug. 2013 Nov. 2013 Feb. 2014 0 10 20 30 40 50 60 70 80 90

SPRB stockpiles at 47 days use

U.S. coal demand rose 40 million tons in 2013 Coal generation up 5% and gas generation declines 11%

Winter heating degree days over 10% above average in coal-heavy regions

20 - 30 million ton demand increase expected in 2014

Source: Peabody Global Analytics and EIA. Stockpiles estimated as of Jan. 31, 2014.

SPRB and Illinois Basin: 100 Million Ton Demand Increase Forecasted by 2016

Peabody Energy

Expected U.S. Generation Demand (Tons in Millions)

0 200 400 600 515 -60 +100 +60 615 SPRB and ILB +100

2013 Retirements Utilization Switching 2016P

SPRB and ILB best positioned against natural gas

Increased power plant utilization and basin switching more than offset expected retirements

Coal fuels 40% of electricity; existing plants running at only 60% capacity

Source: Peabody Global Analytics.

Coal: The World’s Fastest Growing Major Fuel

Peabody Energy

Expected Electricity Growth (2011 - 2035) Coal Natural Gas Nuclear Hydro Other

Coal projected to account for largest percentage of global electricity generation growth

Coal grew dramatically faster than all other major fuels in past decade

IEA and other observers project that coal will overtake oil as world’s largest energy source in coming years

Source: Peabody Energy Analytics, BP Statistical Review of World Energy 2013; Wood Mackenzie; International Energy Agency (IEA); World Energy Outlook.

Peabody Energy Outlook

Peabody Positioned for Success in 2014

Peabody Energy

2014 Focus Areas

Drive strong operational performance

Target additional cost improvements

Manage tight capital spending

Explore sale of non-strategic assets

Position company for growth as markets improve

Advance major new global advocacy initiative

Australian Platform Targets Growing Asia Demand

Peabody Energy

Targeted Australia Volumes (Tons in Millions) 0 10 20 30 40 Domestic Thermal Seaborne Thermal Metallurgical

2005 2 6 8

2011 6 10 9 25

2013 8 11 16 35

2014P ~8 11 - 12 16 - 17 35 - 37

90% of production from operations with recent expansion or owner-operator conversion

Resetting cost base and benefitting from lower Australian dollar

Significant platform for future development and portfolio optimization

Competitive advantage over other nations with mines close to port; ports close to high-growth markets; higher quality products

Sales volumes represent continuing operations.

Peabody’s 2013 Australian Productivity Increased 27%

Peabody Energy

Australian Productivity (Units Moved per Shift)

2012 2013 +27%

2013 Australian unit costs 4% below prior-year levels on increased productivity

Achieving success with multiple initiatives: Streamlining workforce Improved mining methods Productivity improvements lead to 20% lower costs at PCI mines Owner-operator conversions

2014 costs targeted in low-to-mid $70 per ton range on higher metallurgical coal mix

Realize Full Value of Owner-Operator Conversions in 2014

Peabody Energy

Owner-Operator Volumes Increasing to Over 90% in Australia

Eliminated Contractor Margins Robust Mine Planning Better Workforce Alignment Right-Sized Equipment

Improved operating efficiency drives cost reduction

2013 unit costs reduced 25% from prior year levels

Wilpinjong: One of the lowest cost mines in Australia

Moorvale transitioning in second quarter 2014

U.S. Platform Well Positioned in Current Market

Peabody Energy

Peabody’s position in PRB and Illinois Basin creates opportunity in improving market Targeting 185 - 195 million tons of production in 2014 2014 revenue per ton expected to be 5 - 8% below 2013 levels on greater PRB mix and Midwest contract re-openers 10 - 15% unpriced for 2014; 45 - 55% unpriced for 2015

Maximizing margins across operations 2014 cost per ton expected to be 1 - 3% below 2013 levels

Priced position as of Dec. 31, 2013, based on expected 2014 production levels.

U.S. Cost Containment Initiatives Taking Hold

Peabody Energy

Delivered significant cost and productivity improvements in 2013 U.S. unit costs 3% below prior year levels as productivity improves 9%

Shifting volumes to more productive operations NARM in PRB Gateway and Bear Run in Midwest El Segundo in Southwest

LBA payments end in 2016 and are sufficient for nearly a decade

Maintaining Financial Strength Through Capital Discipline and Debt Repayment

Peabody Energy

Capital Discipline

Capex reduced 67% in 2013; 2014 capex targeted at $275 - $325 million

Sustaining capital trending below historical range of $1.25 - $1.75/ton

Previous investments enable low sustaining capex for multiple years

Debt Repayment

Completed new secured credit facility to increase financial flexibility

Reduced debt over $600 million since beginning of 2012

Maximizing cash flow through cost containment, capital discipline and non-core asset sales

Strong liquidity of $2.1 billion

Financial data as of Dec. 31, 2013.

Peabody Strategy and Operating Success Drive Value in All Market Conditions

Peabody Energy

Uniquely positioned with leading presence in growing Asia markets and low-cost U.S. basins

Leveraging successful cost improvements

Well-capitalized platform

Significant upside as coal markets improve

Sizeable reserves and additional resource base enables growth prospects

Peabody Energy

www.PeabodyEnergy.com

Life Empowered

Appendix: Reconciliation of Non-GAAP Measures

Peabody Energy

Reconciliation of Non-GAAP Financial Measures (Unaudited) (Dollars in millions, except per share data)

Quarter Ended Mar. 31, 2014 Low (1) High (1) Year Ended Dec. 31, 2013 (2) 2012 (2)

Adjusted EBITDA (3) $170.0 $230.0 $1,047.2 $1,836.5

Depreciation, depletion and amortization 160.0 175.0 740.3 663.4

Amortization of basis difference related to equity affiliates 0 0 6.3 4.6

Interest income (2.0) (4.0) (15.7) (24.5)

Interest expense 104.0 102.0 408.3 402.3

Loss on early debt extinguishment 0 0 16.9 3.3

Income tax (benefit) provision, excluding tax items shown separately below (85.0) (105.0) (279.9) 481.7

Adjusted (Loss) Income from Continuing Operations (3) $(28.0) $43.0 $104.5 $238.7

Asset impairment and mine closure costs 0 0 528.3 929.0

Settlement charges related to the Patriot bankruptcy reorganization 30.6

Tax benefit related to asset impairment and mine closure costs 0 0 (112.8) (227.3)

Tax benefit related to settlement charges related to the Patriot bankruptcy reorganization 0 0 (11.3) 0

Remeasurement (benefit) expense related to foreign income tax accounts 0 0 (44.3) 7.9

(Loss) income from continuing operations, net of income taxes $(28.0) $43.0 $(286.0) $(470.9)

Diluted EPS - (Loss) income from continuing operations $(0.10) $0.14 $(1.12) $(1.80)

Asset impairment and mine closure costs, net of income taxes 0 0 1.56 2.61

Settlement charges related to the Patriot bankruptcy reorganization, net of income taxes 0 0 0.07 0

Remeasurement (benefit) expense related to foreign income tax accounts 0 0 (1.17) 0.03

Adjusted Diluted EPS (3) $(0.10) $0.14 $0.34 $0.84

(1) Range of targeted projected results.

(2) Actual historical results.

(3) Non-GAAP financial measure defined on slide 2 of this presentation.

This information is intended to be reviewed in conjunction with the company’s filings with the Securities and Exchange Commission.