Peabody Energy revenue drops 38% in 2020, cuts 2,000 jobs

St. Louis-based coal producer Peabody Energy (NYSE: BTU) said its revenue declined nearly 38% in 2020 compared with the prior year, and it reduced its global headcount by about 2,000 employees.

The company made the announcement Thursday in an SEC filing for the year and quarter ended Dec. 31. Revenue decreased from $4.62 billion in 2019 to $2.88 billion in 2020. In total tons, Peabody sold 132.6 million in 2020, down from 165.5 million in 2019.

Peabody officials said the Covid-19 pandemic and subsequent…


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