Peabody Energy affirms 2008 outlook at annual meeting

ST. LOUIS—Coal producer Peabody Energy Corp. on Thursday reiterated its 2008 earnings outlook at its annual shareholders meeting.

The company said it still expects 2008 profit between $2.20 and $3 per share. In 2007, the company earned $1.56 per share from continuing operations.

Analysts polled by Thomson Financial expect profit between $1.65 and $3.02 per share, with an average of $2.45 per share.

At the shareholders meeting, Peabody Chief Executive Gregory H. Boyce said soaring global coal demand and high coal prices will help its 2008 results.

Peabody Energy shares fell 19 cents to $69.02 in electronic after-hours trading. During regular trading, shares rose $3.90, or 4 percent, to close at $69.21.