Welcome to our dedicated page for Hallador Energy Company news (Ticker: HNRG), a resource for investors and traders seeking the latest updates and insights on Hallador Energy Company stock.
Hallador Energy Company (symbol: HNRG) is a prominent player in the coal and energy industry, headquartered in Terre Haute, Indiana. Established in 1949, the company, through its subsidiaries, is primarily involved in the mining, production, and sale of steam coal for the electric power generation sector in the United States.
Hallador's operations are concentrated in the Illinois Basin, with key assets including the Oaktown 1 and Oaktown 2 underground mines in Knox County, Indiana, and Lawrence County, Illinois, as well as the Carlisle underground mine near Carlisle, Indiana, and the Ace in the Hole mine near Clay City, Indiana. In addition to coal production, Hallador is also engaged in gas exploration activities within Indiana.
The company operates through two primary segments: Coal Operations and Electric Operations. The Coal Operations segment is a significant revenue driver, catering to the burgeoning needs of the electric power generation industry. The Electric Operations segment, managed by Hallador's subsidiary Hallador Power, LLC, includes operations at the Merom Generating Station, a 1GW facility.
Hallador Energy has shown remarkable financial performance, reporting a net income of $39.0 million and $16.9 million for the first half and second quarter of 2023, respectively. The company's focus on reducing debt has resulted in a leverage ratio of less than 1.0 times EBITDA, enhancing its financial stability. As of June 30, 2023, Hallador increased its liquidity to $56.9 million following the closure of a $140 million credit agreement.
Recent strategic moves include a workforce reduction aimed at streamlining operations and improving efficiency. Despite these challenges, Hallador remains committed to providing steady returns for its stakeholders. The company's leadership anticipates a significant shift in revenue sources, with electric operations expected to surpass coal operations in the near future.
Hallador continues to focus on long-term growth and sustainability, evidenced by its successful forward energy and capacity sales amounting to $657 million. The company is also planning to transition its SIC code to better reflect its evolving business model centered on electric services.
For more information, visit Hallador Energy's official website.
Hallador Energy Company (HNRG) reported a net income of $18.1 million, or $0.57 per share, for the full year 2022, a significant improvement from a net loss of $3.8 million in 2021. The company generated $54.2 million in operating cash flow and reduced bank debt by $26.5 million. In 2022, Hallador signed 2.2 million tons of new coal contracts at an average price of $125 per ton. The average coal sales price increased to $45.64 in 2022, with a projected price of $58.70 per ton in 2023. The acquisition of Merom Generating Station enhances operational flexibility and market access starting in 2024. Hallador is well-positioned with contracted tons for the coming years.
Hallador Energy Company has announced plans to release its 4th quarter and full year 2022 financial results on Form 10-K after market close on March 16, 2023. The company will hold an investor conference call and webcast on March 17, 2023, at 2:00 p.m. ET to discuss the results. The call will be accessible through Hallador's website and will include dial-in options for participants. A recording will be available until March 24, 2023. Hallador Energy is based in Terre Haute, Indiana.
Hallador Energy Company (NASDAQ – HNRG) reported a net income of $1.6 million ($0.05 per share) and adjusted EBITDA of $18.4 million for Q3 2022. The company has signed higher-priced contracts, enhancing margins to $3.16 per ton, despite production costs rising to $37.46 per ton. Following the acquisition of the Merom Generating Station, Hallador reduced its bank debt by $44 million (34%) and aims to be net debt-free by 2023. With contracted tons priced at an average of $49.00 for Q4 2022 and $58.00 for 2023, Hallador is positioned for future growth.
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