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 (NASDAQ – HNRG) has successfully acquired the 1-Gigawatt Merom Generating Station from Hoosier Energy. This acquisition is facilitated through Hallador's new subsidiary, Hallador Power Company, LLC, and involves taking on certain decommissioning and environmental responsibilities. A 3.5-year power purchase agreement (PPA) will ensure Hoosier purchases all energy and capacity from the plant until May 2023, with reduced purchases thereafter. This strategic move is seen as a pathway to transition the facility to renewable energy and aims to diversify Hallador's earnings platform.
Hallador Energy Company (NASDAQ – HNRG) reported a net loss of $3.4 million, or $0.11 per share, for Q2 2022, alongside an adjusted EBITDA of $11.5 million. The company improved its cost structure by approximately $8 per ton compared to Q1, achieving production of 1.8 million tons at a cost of $31.83 per ton. It raised $29 million in convertible debt to boost liquidity and signed contracts for 2.2 million tons of future sales at over $125 per ton. The acquisition of the Merom power plant is pending approvals.
Hallador Energy Company (HNRG) announced plans to release its second quarter 2022 financial results on Form 10-Q after the market closes on August 15, 2022. An investor conference call will take place on August 16, 2022, at 2:00 p.m. ET to discuss the results. The call will be available via webcast on Hallador's website, and a recording will be accessible until August 23, 2022.
Hallador Energy Company (HNRG) announced new coal contracts boosting volumes and pricing for Q4 2022 through 2023, increasing EBITDA guidance to $160MM. Expected average coal prices are set at $56.50 per ton for Q4 2022 and $58.50 for Q1-Q4 2023, with total volumes rising to 1.8MM tons. Enhanced production will originate from the Oaktown Mining Complex and new sites near Petersburg and Freelandville, though costs may rise to $36/ton. Acquisition of the Merom Power Plant is anticipated to close in Q3 2022 but won't significantly impact EBITDA until later.
Hallador Energy Company will host an investor conference call on May 24, 2022, at 2:00 p.m. ET to discuss its 1st quarter 2022 financial results. The call will be available via webcast on the company's website and can be accessed through a toll-free US dial-in number. An audio recording will be available until May 31, 2022. Hallador, based in Terre Haute, Indiana, produces coal through its subsidiary Sunrise Coal for the electric power generation sector.
Hallador Energy Company (Nasdaq: HNRG) will conduct an investor conference call on March 24, 2022, at 2:00 p.m. ET to discuss its Q1 2022 financial results. The call will be accessible via a live webcast on Hallador's official website and will remain available for a limited time. Interested participants can join the call by dialing specific US and international numbers, with an access code provided. A recording will be available until May 31, 2022. Hallador operates through its subsidiary, Sunrise Coal, LLC, focusing on coal production in the Illinois Basin for power generation.
Hallador Energy Company (NASDAQ – HNRG) reported a net loss of $3.8 million or $0.12 per share for Q1 2022. The acquisition of the 1-Gigawatt Merom Generation Station, expected to close by mid-July 2022, is anticipated to be a pivotal growth driver, potentially doubling adjusted EBITDA starting in 2023. Hallador successfully executed 5.8 million tons of new coal sales contracts in 2021, increasing volumes to 6.8 million tons in 2022, with a projected average sales price increase of $3.29 per ton in 2023. The firm maintains a strong liquidity position with a leverage ratio of 2.34x.
Hallador Energy Company will release its 4th quarter and year-end 2021 financial results on Form 10-K after market close on March 28, 2022. An investor conference call and webcast are scheduled for March 29, 2022, at 2:00 p.m. ET to discuss these results. Interested participants can access the call via the company's website or by dialing in using the provided numbers. A recording will be available until April 5, 2022. Hallador, through its subsidiary Sunrise Coal, produces coal for the electric power generation industry.
Hallador Energy (NASDAQ: HNRG), through Hallador Power Company, will acquire Hoosier Energy's 1-Gigawatt Merom Generating Station, assuming decommissioning and environmental responsibilities. This deal includes a 3.5-year power purchase agreement, closing expected in mid-July 2022. Hoosier will purchase 100% of the plant's energy until May 2023 before reducing to 22% energy output through 2025. This strategic acquisition aims to secure long-term demand for Hallador's coal production while transitioning toward renewable energy. The deal is projected to provide value to shareholders and preserve over 100 local jobs.
Hallador Energy Company (NASDAQ: HNRG) reported a strong financial performance for Q3 2021, with a net income of $8.0 million ($0.26 per share) and adjusted EBITDA of $20.5 million. The company experienced record coal shipments totaling 2.04 million tons, generating $14.6 million in Adjusted Free Cash Flow. A significant decrease in average price per ton and an increase in production costs were noted, although a $3 per ton price increase is anticipated in Q4. Bank debt was reduced to $114.9 million, reflecting a solid liquidity of $41.7 million. The $10 million PPP loan was fully forgiven during July.
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