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) 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.
Hallador Energy Company plans to release its 3rd quarter 2021 financial results on Form 10-Q after market close on November 8, 2021. Management will hold an investor conference call and webcast on November 9, 2021 at 2:00 p.m. EST to discuss these results. Interested participants can join the call by dialing the respective toll-free numbers for domestic and Canadian callers. The call will be available for replay through November 16, 2021.
Hallador Energy Company (NASDAQ – HNRG) reported a net loss of $3.0 million or ($0.10) per share for Q2 2021, with adjusted EBITDA of $11.3 million. The company added 500,000 tons of contracted sales and expects to ship approximately 1 million more tons in H2 2021, marking a 40% increase in shipments compared to the first half. Total revenues decreased to $55.6 million from $50.9 million year-over-year. As of June 30, bank debt stood at $130.1 million with liquidity at $26.5 million, resulting in a leverage ratio of 2.76X, below the covenant limit.
Hallador Energy Company (HNRG) will release its second quarter 2021 financial results on August 9, 2021. The results will be available on Form 10-Q after market hours. An investor conference call and webcast will follow on August 10, 2021, at 2:00 p.m. ET to discuss these results. Participants can join the call via toll-free numbers provided for domestic and Canadian callers. The replay will be available until August 17, 2021. Hallador, through its subsidiary Sunrise Coal, operates in the coal production sector for electric power generation.
Hallador Energy Company (NASDAQ – HNRG) has announced a collaboration with Hoosier Energy to develop up to 1000 megawatts of renewable energy near the Merom Coal Generation Station in Sullivan, Indiana, which Hoosier plans to retire in May 2023. Hallador aims to generate approximately 200MW from solar and battery storage by 2025 through power purchase agreements. This move signifies Hallador's commitment to transitioning towards renewable energy and supporting customer needs amidst coal plant retirements, ultimately benefiting shareholders and the community.
Hallador Energy Company (NASDAQ – HNRG) reported a net loss of $1.0 million ($0.03 per share) for Q1 2021, a significant improvement compared to a loss of $3.7 million in Q1 2020. Adjusted EBITDA decreased to $11.4 million from $13.9 million year-over-year. The company faced shipment delays due to severe cold weather, impacting cash flow, but projected an increase in coal sales by 400,000 tons for the year. Production costs fell to $28.88 per ton from $31.67 in Q1 2020. As of March 31, 2021, bank debt stood at $136.1 million, with a leverage ratio of 2.78X.
Hallador Energy Company (HNRG) will release its first quarter 2021 financial results on May 3, 2021, after market close. An earnings conference call is scheduled for May 4, 2021, at 2:00 p.m. ET, where management will discuss the results. Investors can participate via a toll-free domestic line or through a webcast available on the company's website. Replay options will be available until May 11, 2021. Hallador operates through its subsidiary, Sunrise Coal, and produces coal primarily for the electric power generation sector.
Hallador Energy Company (HNRG) reported a net loss of $6.2 million for 2020, a significant improvement from $59.9 million the previous year. The company achieved $52.6 million in positive operating cash flow, using it to reduce bank debt by 24% ($42.4 million), bringing total bank debt to $137.7 million. Shipments totaled 6.0 million tons with an average price of $40.56 per ton. Extended contracts with customers are expected to aid future sales. The company maintains liquidity of $51.8 million and is positioned well for recovery in energy markets.
Hallador Energy Company plans to release its fourth quarter and full-year 2020 financial results on Form 10-K after market close on March 8, 2021. Management will host a conference call and webcast on March 9, 2021, at 2:00 p.m. ET to discuss these financial results. The call will be available on their website and through respective domestic and Canadian toll-free numbers. The conference replay will be accessible until March 15, 2021.
Hallador Energy Company (HNRG) announced on December 21, 2020, that it has regained compliance with Nasdaq's minimum bid price requirement. The notification, received on December 17, confirmed that HNRG's common stock closing bid price was at or above $1.00 for ten consecutive business days. This compliance reinstatement indicates stability in the company's stock performance, and Nasdaq has now closed this matter.
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