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CLOUD PEAK ENERGY INC.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2019 10-Q, filed Oct 18, 2019. Its latest SEC filing is a SC 13G/A from Feb 13, 2020.

The sections below describe the company as of the FY2018 annual report.

What Did They Do?

Produces subbituminous thermal coal for domestic and foreign electric utilities, and arranges coal purchases and delivery services for utility customers.

How Did They Make Money?

Utilities and brokers buy coal, either at the mine or with delivery arranged to a remote terminal or plant. Most mine sales are completed when coal ships, while some mine sales and logistics sales are completed when coal arrives at the agreed destination.

revenue

Who Were Their Customers?

Domestic utility companies typically buy coal directly at mine sites; foreign and some domestic utilities, along with brokers, buy coal delivered to a remote terminal, plant or other destination. Mine sales are generally arranged through competitive bids and supply contracts.

Did Revenues Turn Into Profits?

No. It lost $718M in .

Operating income,
−85% of revenue
▲ +49438% (Loss) vs (−$1.4M, 0%)
Net income,
−86% of revenue
▲ +10714% (Loss) vs (−$6.6M, −1%)

How Were They Changing?

Since the FY2018 annual report
Latest quarter: Q3 FY2019, the three months to Sep 30, 2019
Revenue
▼ −6%
vs $233.1M in Q3 FY2018
Net income
▼ −62%
vs $12.7M in Q3 FY2018
  • Dec 23, 2019 Company emerged from Chapter 11 under a confirmed reorganization plan Noteholders received shares representing all common stock in the reorganized company; existing shares were extinguished.
  • Oct 24, 2019 Sold substantially all operating assets, including its three mines Navajo Transitional Energy Company paid cash and a note and assumed specified liabilities and reclamation obligations.

Shrank. Revenue fell 37% in 4 years, from $1.3B in to $832.4M in , about 11% a year.

Gateway Pacific investment The older report describes Cloud Peak as a partner in the proposed Gateway Pacific Terminal; the latest report refers to the terminal as a former investment.

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