A Few Earnings Surprises Emerged This Week

By Taylor Muckerman and Joel South – Jul 23, 2013 at 7:03PM

OTC: BTU

Peabody Energy Corporation

Investors always love when companies beat earnings expectations, but turning expected losses into profits is especially pleasing.

At first I thought my eyes deceived me, but after reading deeper, Peabody Energy (BTU) actually turned a profit this quarter. Thanks to a few one-time items, the company unearthed $0.33 per share in earnings this past quarter versus the expected loss of $0.05 per share analysts had buried the company under. Not to be outdone, Freeport-McMoRan Copper & Gold (FCX 1.00%) beat earnings predictions as well.

Both companies achieved these goals in different ways, while continuing to struggle in certain areas of their businesses. Thankfully there were some bright spots, which Motley Fool analyst Taylor Muckerman points out in the following video with analyst Joel South. Tune in to find out why these stocks were up so big during today's trading.

Joel South has no position in any stocks mentioned. Taylor Muckerman has no position in any stocks mentioned. The Motley Fool owns shares of Freeport-McMoRan Copper & Gold. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.