AG真人官方

Hallador Energy Company Reports First Quarter 2025 Financial and Operating Results

鈥� Q1 Total Revenue up 6% YoY to $117.8 Million听鈥�
鈥撎齉1 Net Income up Materially YoY to $10.0 Million or $0.23 Earnings per Share听鈥�
鈥撎齉1 Operating Cash Flow up ~2x YoY to $38.4 Million听鈥�
鈥撎齉1 Adjusted EBITDA up ~3x YoY to $19.3 Million听鈥�

TERRE HAUTE, Ind., May 12, 2025 (GLOBE NEWSWIRE) -- Hallador Energy Company (Nasdaq: HNRG) (鈥淗allador鈥� or the 鈥淐ompany鈥�) today reported its financial results for the first quarter ended March 31, 2025.

鈥淲e are pleased with our first quarter performance as we returned to top line growth and saw material improvements to our bottom line and cash flow generation, underscoring the strength of our strategic shift to a vertically integrated independent power producer (鈥業PP鈥�),鈥� said Brent Bilsland, President and Chief Executive Officer. 鈥淛anuary and February offered a strong backdrop as the combination of colder weather and higher pricing enabled us to benefit from increased dispatch volumes.鈥�

鈥淲e are making meaningful progress in our negotiations with a leading global data center developer for the long-term supply of capacity and energy from our facility. Our partner has demonstrated their commitment through significant investments, including securing land, transmission capacity and equipment, in addition to the previously announced exclusivity agreement with us that runs through early June 2025. Given the inherent complexity of these multi-party agreements, it is uncertain that we will finalize terms before the exclusivity expires. However, we remain confident that we will execute a strategic transaction that delivers long-term value for our shareholders.鈥�

Bilsland continued, 鈥淲e continue to see rising demand for reliable power, particularly as grid volatility grows with the retirement of dispatchable generation. That demand, paired with supportive regulatory sentiment and Hallador鈥檚 ability to deliver dependable energy, positions us well for sustained growth. Our evaluation of dual-fuel capabilities and potential acquisitions of other dispatchable generation assets reflect our confidence in the long-term economics and viability of our platform. With a robust contracted sales book, strengthening fundamentals, and ongoing interest from high-demand end users, we believe we are well-positioned to materially strengthen our opportunities for growth and cash flow generation for many years to come.鈥�

First Quarter 2025 Highlights

• Hallador returned to growth on both the top and bottom line.
  
  • Total revenue increased 6% year-over-year and 24% quarter-over-quarter to $117.8 million, driven by a strong increase in electric sales to $85.9 million. Electric sales are currently 73% of the Company鈥檚 revenue mix, underscoring Hallador鈥檚 commitment to emphasizing electric sales as an IPP.
    
  • Net income increased materially to $10.0 million, with adjusted EBITDA up ~3x year-over-year and 78% quarter-over-quarter to $19.3 million.
    
• The Company generated $38.4 million in operating cash flow during the first quarter, which partially supported the repayment of debt and funding capex.
  
  • Total bank debt was reduced to $23.0 million at March 31, 2025, compared to $44.0 million at December 31, 2024, and $77.0 million at March 31, 2024.
    
  • Total liquidity was $69.0 million at March 31, 2025, compared to $37.8 million at December 31, 2024, and $39.5 million at March 31, 2024.
    
  • Capital expenditures in the first quarter were $11.7 million compared to $14.9 million in the year-ago period.
    
• Hallador continues to focus on forward sales to secure its energy position.
  
  • At quarter-end, Hallador had total forward energy, capacity and coal sales to 3rd party customers of $1.1 billion through 2029.
    

Financial Summary ($ in Millions and Unaudited)

Adjusted EBITDA听should not be considered an alternative听to net income, income from operations, cash flows from operating activities听or any other measure of financial performance presented in accordance with GAAP. Our method of computing Adjusted EBITDA may not be the same method used to compute similar measures reported by other companies.

Management believes the non-GAAP financial measure, Adjusted EBITDA, is an important measure in analyzing our liquidity and is a key component of certain material covenants contained within our Credit Agreement, specifically the minimum quarterly EBITDA. Noncompliance with the covenants could result in our lenders requiring the Company to immediately repay all amounts borrowed. If we cannot satisfy these financial covenants, we would be prohibited under our Credit Agreement from engaging in certain activities, such as incurring additional indebtedness, making certain payments, and acquiring and disposing of assets. Consequently, Adjusted EBITDA is critical to the assessment of our liquidity. The required amount of Adjusted EBITDA is a variable based on our debt outstanding and/or required debt payments at the time of the quarterly calculation based on a rolling prior 12-month period.

Reconciliation of the non-GAAP financial measure, Adjusted EBITDA, to Income (Loss) before Income taxes, the most comparable GAAP measure, is as follows (in thousands) for the three听months听ended March 31, 2025听and 2024, respectively.

Solid Forward Sales Position 鈥� Segment Basis, Before Intercompany Eliminations (unaudited):

Forward-Looking Statements

This release contains forward-looking statements within the meaning of Section听27A of the Securities Act of 1933, as amended (the听"Securities Act"), and Section听21E of the Securities Exchange Act of 1934, as amended (the听"Exchange Act").听Statements that are not strictly historical statements constitute forward-looking statements and may often, but not always, be identified by the use of such words such as听"expects," "believes," "intends," "anticipates," "plans," "estimates," "guidance," "target," "potential," "possible,"听or听"probable"听or statements that certain actions, events or results听"may," "will," "should,"听or听"could"听be taken, occur or be achieved.听Forward-looking statements include, without limitation, those relating to our ability to execute definitive agreements with respect to the non-binding term sheet with a leading global data center developer, to execute a strategic transaction that delivers long-term value for our shareholders or to strengthen opportunities for growth and cash flow generation. Forward-looking statements are based on current expectations and assumptions and analyses made by Hallador and its management in light of experience and perception of historical trends, current conditions and expected future developments, as well as other factors appropriate under the circumstances that involve various risks and uncertainties that could cause actual results to differ materially from those reflected in the statements.听These risks include, but are not limited to, those set forth in Hallador鈥檚 annual report on Form听10-K for the听year ended December听31, 2024, and other Securities and Exchange Commission filings. Hallador undertakes no obligation to revise or update publicly any forward-looking statements except as required by law.

Conference Call and Webcast

Hallador management will host a conference call today, May 12, 2025, at 5:00听p.m. Eastern time to discuss its financial and operational results, followed by a question-and-answer period.

Date: Monday, May 12, 2025
Time: 5:00听p.m. Eastern time
Dial-in registration link:
Live webcast registration link:

The conference call will also be broadcast live and available for replay听in the investor relations section of the Company鈥檚 website at .

About Hallador Energy Company

Hallador Energy Company (Nasdaq: HNRG) is a vertically-integrated Independent Power Producer (IPP) based in Terre Haute, Indiana. The Company has two core businesses: Hallador Power Company, LLC, which produces electricity and capacity at its one-Gigawatt (GW) Merom Generating Station, and Sunrise Coal, LLC, which produces and supplies fuel to the Merom Generating Station and other companies. To learn more about Hallador, visit the Company鈥檚 website at听.

Company Contact

Marjorie Hargrave
Chief Financial Officer

Investor Relations Contact

Sean Mansouri, CFA
Elevate IR
(720) 330-2829