This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Cloud Peak Energy Inc. Announces Results For The Third Quarter And First Nine Months Of 2012

Health, Safety and Environment Record

During the third quarter of 2012, of our approximately 1,400 mine site employees, three suffered minor reportable injuries resulting in a year-to-date MSHA All Injury Frequency Rate of 0.73, a decrease over the full year 2011 rate of 1.18. During the 75 MSHA inspector days in the third quarter of 2012, we were issued 11 substantial and significant (S&S) citations, of which, six have been satisfactorily resolved and resulted in total proposed fines of $5,387. Fines for the remaining five S&S citations have not yet been assessed.

Balance Sheet and Cash Flow

Cash flow from operations totaled $202.0 million for the first nine months of 2012. For the nine months, cash spent on capital expenditures was $36.4 million (excluding capitalized interest) and cash spent on LBA installments was $129.2 million. This includes $60 million paid for committed coal leases in the third quarter, which was the remaining obligation for 2012. Cloud Peak Energy’s balance sheet continues to be well positioned with total available liquidity of $766 million at September 30, 2012 and no debt maturities before 2016.

Tax Receivable Agreement and Related Adjustments

During the third quarter, we completed our annual update of our life of mine operating plans and calculation of the resulting estimated future taxable income, which is used to update the undiscounted future estimated liability to Rio Tinto under the Tax Receivable Agreement. These updates resulted in a reduction of the future tax value expected to be received; and therefore, there was a decrease in the third quarter in the future estimated liability due to Rio Tinto under the Tax Receivable Agreement. A non-cash benefit of $29.0 million to non-operating income was recorded for the three months ended September 30, 2012. Changes to our estimated future taxable income also changed our projections regarding our ability to fully utilize our deferred tax assets and we have therefore made adjustments to our valuation allowance on deferred tax assets. The deferred tax adjustments relating to the change in the tax agreement liability and the valuation allowance resulted in a net $6.5 million deferred tax benefit which was recorded through income tax expense.

2 of 9

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,126.12 -36.87 -0.20%
S&P 500 2,120.79 -2.69 -0.13%
NASDAQ 5,097.9760 -8.6170 -0.17%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs