Cloud Peak Energy Inc. Announces Results for Third Quarter and First Nine Months 2010.

Extract

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Cloud Peak Energy Inc. Announces Results for Third Quarter and First Nine Months 2010.

GILLETTE, Wyo. -- Cloud Peak Energy Inc. (NYSE:CLD), the third-largest U.S. coal producer and the only pure-play Powder River Basin (PRB) coal company, today announced results for the third quarter 2010.

Highlights

* Adjusted Earnings Per Share of $0.60 and Adjusted EBITDA of $94.5 million, driven by higher prices, efficient operations and tight cost control.

* Reported net loss attributable to controlling interest of $6.6 million or $0.22 loss per share after non-cash charge of $25.1 million or $0.82 per share due to updated estimate of future liability under the Tax Receivable Agreement established at the time of the IPO.

* Strong domestic demand for PRB coal, resulting in near record production.

* Asian export shipments grew to 940,000 tons on strong Asian demand.

* Improved full year 2010 guidance.

Adjusted EBITDA (defined later) was $94.5 million, compared to $90.3 million in the prior year. Third quarter 2010 income from continuing operations was $19.5 million, compared to $52.5 million in the third quarter of the prior year. Third quarter 2010 income was reduced by non-cash, non operational charges totaling $25.1 million related to the estimated future liability to Rio Tinto under the Tax Receivable Agreement ("TRA") established at the time of the IPO. Adjusted Earnings Per Share (defined later) of $0.60 were reduced by $0.82 per share due to the impact of the TRA adjustments resulting in a reported earnings per share loss of $0.22.

"Operationally we had a strong third quarter with near record production ...

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