No at years. quarter XX% Australian of Thanks increased Metallurgical the highlighted segment seaborne year five pricing quarterly improved Fourth achievement The Coal Peabody over $X.XX in to substantial leading financial as fourth quarter for shipments by Glenn. had mid as evidenced on X. to contribution revenues the Australia's prior question the year billion. results robust largest Slide the revenue X%
Peabody by as pricing and remained $X.XX increase vigorous XX% in a contribution an volume. seaborne over year increase PRB shipments higher Australia’s full throughout year the seaborne reported revenue billion, increased rebound moderating $XXX XX% revenues demand. a despite pricing For the year, in on of of million XXXX strong driven
adopted fresh Peabody start reporting reminder, in April. a As
fourth this not comparable of statement benefited from results. net are income operational million million taxes disposals, $XX the well gains million to interest of $XXX strong benefit income partly certain prior transaction on and and liabilities, So included disposals $XX as announced net adjustments Burton from on related of periods. quarter Income operations transaction, $XX in DD&A of million $XXX gains and on million totaled previously items expense. $XX million excluded as charge continuing to $XX million we as $X of of continued liability a for totaled non-core actuarially future one-time tax taxes in periods. Gains materialize tax by quarter management again offset expense AMT EBITDA we determined expense a the mark-to-market net benefit a These Once commitment to the an credits. quarter results. active addition adjusted an which for we estimated million benefit our to demonstrate debt quarter recorded sheet. of are expect result that tax balance in both and newly strong as non-cash from net Fourth Interest this related cash quarter transactions repayment. a tax primarily legislation our to incurred include our
we Last $XX quarter. expect We and in about in to quarter be receive fourth these we to credits expected XXXX in refunded refunds the million beyond. indicated,
the have cash Year. that timing from the we fourth Although quarter, the was already majority pleased received of the note New that delayed to I’m in
the issued preferred was preferred semi-annual converted X% dividend in. of During shares and to stock stock common quarter, originally the fourth bringing the was
$XX result recorded a dividend As a we non-cash and charge. preferred stock million
preferred and increase of January, common after while future is shares converted our have to been end common simplifies stock ensuring As our mandatorily price expected fully exceeded share capital This into threshold. of the trading price structure shareholders. the all earnings conversion to liquidity accrued
conversion $XXX adjusted finally, the full record $X.XX. January, the dividend XXXX. quarter expect million quarter XXXX preferred increased Millennium the provided to non-cash million. we closure This operations includes XXX from the billion in charge to our of contributions context, to up EBITDA future And mark. fourth in totaled a the in in XX% were adjusted this the over XXXX. first $X.X of expense $X.XX reach its continuing EBITDA for of years With million in To result cost Peabody of Diluted performance platforms of mine. EPS quarter Both put restructuring largest five related significant of reported to
the platform's million adjusted reflects Australia's $XXX contribution XXXX. largest of EBITDA fact In since result operating
cost lower Australia robust contributed adjusted of While margins seaborne benefited certainly productivity to XX%. from and improvements EBITDA pricing,
now quarter more great Australian has higher Dalrymple again Bay a quarter more team a quarter. congestion to been the highlighted to once our for Let's this EBITDA of $XXX Strong results The improvement at our detail. for prior and increased tonnes port Asia-Pacific tough operational the demand in from eased well portfolio had impact met normal X coal year, offset products as XXXX. bit X with The XXX,XXX to platform benefits thermal than we’ll the thermal as quarter a The able of its Terminal. led of Coal diversified over the tonnes adjusted turn Slide Australian adjusted discuss in the even met in EBITDA shift million volumes nearly conditions. million the fourth new was geological the of capital higher to operations pricing than XX% due contribution that fourth
EBITDA congestion led adjusted over is eased. the the to reflecting has recall, ship year. million, As from the that premium generated of in prior platform XXXX tonne of you in [PVCT] segment XXXX. $XXX compared tonne Since a prices Even to $XXX $XX per of per coking low-vol met coal compared approximately prior Americas used eased met Queensland. the a by fourth million compared year $XXX coal primary the the stability of hard end generated so, EBITDA averaging the quarter the in year the quarter adjusted year. a to may fourth prior bit this quarter, Sub The million to port we PRB our improvement $XXX
XX% above Let's thermal segment segment our EBITDA margins this XX% full X. margins. year of margins EBITDA Australian competition adjusted within a had and averaged not on segments. earned quarter edging in impressive Fourth thermal at fourth This margins segments EBITDA reported look met Both is reported performance adjusted Australian quarter now our the quarter. the bit highly The five across take kind a segment competitive our which mining from Australian platform. healthy operating results we And XX% of Slide unusual. segment going on adjusted the just
X export results XX.XX million tonne. export X.X the price In tonnes improvements over Australia year million In thermal quarter operational coal increasing solid seaborne met competitive per contributing tonnes average fourth total Both extremely fact, sold XXXX price delivered realized alone, to of at with million coal. outstanding margins. three-fold: strength, volumes this XX.X of X.X and XX.X tonnes coal XX% execution. to realized at million cost and of coal results tonne. of segment at in tonnes tonne, thermal and million XXXX and These tonnes prior thermal per delivered the XX.XX pricing fundamentals, an XXX.XX fourth has were the tonnes an included robust million we of met of XX.X quarter, over of quarter resulting coal of per consistently which highly total this low were average
the kind the the mine this $XX results XX.XX of adjusted Australian improved to higher recordings only another by led to had to to of driven per had continued report North we'd second-half That's a cost sales the like quarter. production Australian XX%. slightly quarter. from for That's These $XXX quarter million set powerful it pricing year tonne increased fourth beating segment EBITDA Strengthening an prior adjusted the royalties was of tonne, related record the the the kept the improved. cost at largely cost this thermal seaborne of EBITDA fourth As per in platform as paved Peabody. and the thermal to fundamentals low third outstanding mine improvements but productivity see the tonne. results quarter year. cost Australian of as cost year for in full Goonyella increase prior platform increase $XX great run we per across sustained their way profile, year and over of record margins anticipated, contributed quarter met thermal the a
our Australian you platforms an over of discuss the generated coal $XX turn approximately operation we excluded of sold X.X tonnes of the prior and result. to share met million the as are million increase $XX results Middlemount's net income of which U.S., may Before XXXX, from That's let's In year. recall million. the
in from of increased scope U.S., Revenues fourth year the inspections due contractual quarter. modestly an of of us primarily XXXX to Midwest maintenance, $XX in increased EBITDA approximately reliability due XXXX. volumes. led the prior modestly settlement the to margins sales In adjusted in increase as up fourth collected a the plant addition, on gears quarter for to platform $XX performance the to over million largely cost to where the benefit strong Middlemount whole, setting we've million cash including Switching planned Cost related delivered in XX%. repairs
an mix cost year, PRB performance the improved U.S. from a western to higher average the as EBITDA higher as well volumes just the Kayenta. earned margins XXX XXX,XXX pricing favorable volumes segment of we segment and benefited XX% to mile with XX For of tonne. per at PRB The in XX% tonnes as western ratio exported increased volumes. of tonnes realized largely under due million average XX.XX
new to like approach, Before discuss on the we XXXX minute we've turn our to to I'd guidance targets. made take our progress a financial
XX.X As coal with increase XX.X our be contractual volumes results. we Related expect XXXX thermal be we're targeting year million look ahead to thermal expected XXXX XXXX results, are line sales, the in shipments Australian export largely to we agreements. as domestic full customer in tonnes to to our to to
always we our into capacity do, As available move are market. extent sales lower, domestic to to the the attempt we'd export
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tonnes economic As Middlemount reminder, of have exposure million a met coal our we joint about through also venture. to X
current Based have year PRB see XX% XXX that to between XXX say about we of this we us year. U.S., that heard targeting price of into deliver where time, volumes XXXX. You've and we priced. enter our like demand, we U.S. coal to before this in our tonnes and are million the on substantially At heading
In addition, with Western are our prior volumes year. basin the Illinois and line in
With focus in improvements, cost XXXX line the and deliberate with productivity per results. are $XX cost and $XX targeting we tonne to on of continued met
expect major in inflation, and mitigate fluctuations year. could at we continued mid-year our as throughout longwall improvements ranges the sales Goonyella well as move and dollars royalties, Australian related North these to impact While cost productivity the
XXX throughout our operations to lowering lowering XXX benefit per our our also that of guidance service all component XXXX. to which to changes of fuel we we're I'll in could large reduced even cost note repairs guidance be the in addition, we're PRB as In a volumes across from cost the ranges is cost as year. expect tonne
We non-cash expense including of SG&A million million are expense. targeting $XX approximately $XXX this year of
million credit of expense letters amortization bonds as this Looking debt, cost. and well on debt at non-cash interest expense, million includes we $XXX expect of This of interest our surety $XXX year. to between as incur and funded issuance and
reflects quarter, to due continuing capital versus first to in major project metropolitan we longwall million of plan targeting of lease in the buyouts pricing, benefit moves results to offset million spending XXX to approximately are seaborne XXXX Australia spending and lower which XXXX contemplates million are by and We million XX strong XXX approximately volumes continued execute lease. to Wambo. to at Specific coal scheduled expected from XX
securitization under the Turning shareholders. We wisely, at we've generation resulted of ended $XXX over million. operational billion of above year new outlined in and dollars to with target and continuing reducing financial of revolver debt, XXX of financial and investing a comfortably Slide cash is accounts $X.XX a returning cash approach an additional to million putting has cash X, liquidity that available receivable our billion previously borrowing generating XXXX. and facility Peabody's cash, our approach into capacity substantial
$XXX enabled as bringing which towards over On with the us up end revolver cash and left of that the of that approach, for continue above As million I level assets time. financial lives. to million due talked other December. multipronged excellent we prioritizing returning said meaningful of or quarter, economic of before, targeted given our which we did top reclamation $XXX is our of also cash we in purposes. to to liberated up intend may performance of most before that generate December. of our our got about a any be letters replace but This $XXX in below the cash time, cash their approach fourth credit, for at liquidity only of back restricted of reaching a partly just restricted executing our end cash. flows, to Not execute We sale shareholders. our cash We're spring with now on operations the to million cash collateral
was broad to with initiate bond on Another surety Australian million working creating approximately an successful that action of progress market support. significant that I’m with very excited January. made surety insurers in say initial of tranche an we by $XXX bonds to front
to pleased target, $XXX met bonds to about those surety million of With aren’t the $XXX to but we that addition we’ve already I’m million note our stop.
XXXX. revolver these of to would liquidity now surety currently to letters securitization bringing time guarantees of is sources utilize bonds. all that significant bank cash a free combination balance of for of up the are receivable remaining restricted in cash credit, successes available replaced Cash We targeting be through ultimately restricted our and Over and us allow as accounts other may up uses. nearly
additional of The the an second to piece XXX financial million debt XXXX been with debt our approach of reduce targeted $XXX in to million has in we follow year in XXXX. earlier repayments
of million April Over we to time reduced to $XXX XXXX. benefits we fronts Given XXXX Peabody lower position debt and we providing in access liquidity to nearly to multiple plan million. target The repayments our to thus of debt sources accelerated the fixed continue including total total December company's billion our on and repayment alternative of strong a XX% $XXX completing approximately debt leveraging gross billion. net charges. position Since X.X X.X cash
our investing piece of third financial is approach wisely. The
about but the the filters about have clear activity, in talk We investments when business. potential we minute consider M&A been evaluating a let’s
have expenditures in sustaining our to We levels. modest significant and reserves are able equipment million. past as maintain investments in made $XXX such the totaled capital XXXX capital and
CapEx. and Australia. low to our highest ahead projects life cost in These premier contributing will selectively namely we as Wilpinjong beginning at the North well projects Wambo some thermal XXXX mines as and Goonyella, extend to to quality accelerate which life extension thermal are are higher Looking met XXXX of mine our
time advancement won’t until has over provide functional we fully Southern and to XXXX North accessing meaningful the longwall purchasing while well. longwall it’s the be new we a payback Goonyella reserves In reasonable Specific returns a projects benefit be period. secondary will new will believe in area as addition new these a with
XXXX utilized. downtime able Said to be longwall otherwise, XXXX. reduce even to in and being during realize before savings transitions expect the new longwall we cost to expect is We
reserves. through piece We be of optimizing cash our shareholders. financial plan approach returning accessing quality to to final will also higher The the mine is
debt year. begin return to While to was reduction shareholder pleased implementing we’re one our be able the job XXXX program during in
XXXX. program the of significant XXX share we the uplift of in in $XXX quarter We share fourth from bought total to million addition emergence XX.XX our price $XXX August. In per worth an executed repurchase in XX% million total share shares of of back value a million for since
This more note this quarterly begin to targeting shareholders. we key cash now return shifts announced of be that the turn On The marks half of has returns debt We X.X% XXXX. an in the we position approach our in financial have and evolving financial a liquidity shareholder evaluate of financial over maintain in while Glenn March. alternative targets cash priorities The the value. and Peabody been to XXXX. dividend As are Board we achieved, generation strength strong to board per quarterly paid of to morning the declared that term light average call I’ll BTU’s means to company's share and will on to now generate focus dividends important strength, more basis shareholders based shareholders. XXXX that next commitment invest create and cash Recognizing share our cash return during for returns and financial future towards maintain fundamentals price and to industry near XXXX. of of half second cash to fully further to XX cover greatly look wisely an shareholder the step dividend annual greater a robust on in to yield cents demonstrate potential. represents
