分组1 - Hallador Energy reported quarterly earnings of $0.55 per share, significantly exceeding the Zacks Consensus Estimate of $0.06 per share, representing an earnings surprise of +816.67% [1] - The company achieved revenues of $146.85 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 27.42%, compared to $105.04 million in the same quarter last year [2] - Hallador Energy has consistently outperformed consensus EPS and revenue estimates over the last four quarters [2] 分组2 - The stock has increased approximately 71.8% since the beginning of the year, outperforming the S&P 500's gain of 14.4% [3] - The company's earnings outlook is crucial for assessing future stock performance, with current consensus EPS estimates at $0.04 for the upcoming quarter and $0.53 for the current fiscal year [4][7] - The Zacks Industry Rank indicates that the Alternative Energy - Other sector is currently in the bottom 36% of over 250 Zacks industries, which may impact Hallador Energy's stock performance [8]

Financial Data and Key Metrics Changes - Revenue increased by 40% year-over-year to $146.8 million for Q3 2025, compared to $105.2 million in the prior year period [14] - Net income surged to $23.9 million, a significant increase from $1.6 million in the prior year [15] - Adjusted EBITDA rose 1.6 times to $24.9 million, compared to $9.6 million in the prior year [15] - Operating cash flow improved to $23.2 million, up from cash used of $12.9 million in the prior year [15] Business Line Data and Key Metrics Changes - Electric sales increased by 29% to $93.2 million, compared to $72.1 million in the prior year [14] - Coal sales rose by 42% to $68.8 million, compared to $48.3 million in the prior year [14] - Hallador Power delivered 1.6 million megawatt-hours at an average sales price of $49.29 per megawatt-hour, compared to 1.2 million megawatt-hours at $47.55 per megawatt-hour in the same period in 2024 [10] Market Data and Key Metrics Changes - The favorable energy pricing environment was driven by higher energy demand and elevated natural gas prices, leading to a 29% year-over-year revenue increase for Hallador Power [5] - The company expects to produce approximately 3.8 million tons of coal in 2025, having produced 3.1 million tons through the first nine months [11] Company Strategy and Development Direction - The company submitted an application to the MISO ERIS program to add 525 megawatts of gas generation at the Merom site, aiming to grow its generation portfolio [5] - Hallador is evaluating strategic opportunities to acquire additional dispatchable generation assets to diversify its portfolio and enhance growth [9] - The company is transitioning from a commodity-focused coal producer to a vertically integrated independent power producer, leveraging the energy transition to capture expanding margins in power markets [11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the strong market signals for their product offerings and the potential for long-term arrangements [4] - The company anticipates Q4 2025 to resemble Q4 2024 unless extreme weather conditions occur [23] - Management highlighted the structural imbalance in the energy market due to the retirement of dispatchable generators, which increases the value of reliable baseload generation [8] Other Important Information - Total forward energy and capacity sales position was $571.7 million as of September 30, 2025, down from $685.7 million at the end of 2024 [16] - The company executed a $20 million prepaid forward power sales contract, with delivery scheduled through the first half of 2027 [6] Q&A Session Summary Question: What are the main milestones for the capacity expansion? - Management indicated that the MISO expedited process will determine the timeline for application review, with updates provided in quarterly filings [21][22] Question: How has Q4 started compared to Q3? - Management noted that Q4 is expected to be less exceptional than Q3, with no significant catalysts anticipated [23] Question: What are the economics of the 525 MW expansion? - Management is still negotiating equipment and will provide updates as the project progresses [28] Question: What impact will the recent government funding for coal have? - Management believes Hallador could qualify for some of the funding, but details are still being navigated [30] Question: Are there any M&A opportunities being pursued? - Management is focused on coal assets, with ongoing discussions that may lead to future acquisitions [37] Question: What is the status of negotiations with potential customers? - Management confirmed active negotiations with multiple parties, including utilities and data center developers, with increased interest noted [44]

Financial Data and Key Metrics Changes - Revenue increased by 40% year-over-year to $146.8 million compared to $105.2 million in the prior-year period [14] - Net income surged to $23.9 million, a significant increase from $1.6 million in the prior-year period [15] - Adjusted EBITDA rose 1.6 times to $24.9 million from $9.6 million in the prior-year period [15] - Operating cash flow improved to $23.2 million from cash used of $12.9 million in the prior-year period [15] Business Line Data and Key Metrics Changes - Electric sales increased by 29% to $93.2 million compared to $72.1 million in the prior-year period, driven by favorable weather and higher energy demand [14] - Coal sales rose by 42% to $68.8 million from $48.3 million in the prior-year period, supported by increased shipments and favorable power markets [14] Market Data and Key Metrics Changes - The Hallador Power subsidiary experienced a more than 29% year-over-year revenue increase due to favorable summer weather and elevated natural gas prices [5] - The company expects to produce approximately 3.8 million tons of coal in 2025, having produced 3.1 million tons through the first nine months [11] Company Strategy and Development Direction - The company submitted an application to the MISO ERIS program to add 525 MW of gas generation at the Merom site, marking a strategic step to grow its generation portfolio [5] - Hallador is transitioning from a commodity-focused coal producer to a vertically integrated independent power producer, leveraging the energy transition to capture expanding margins in power markets [11] - The company is evaluating strategic opportunities to acquire additional dispatchable generation assets to diversify its portfolio and enhance growth [9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the strong market signals for their product offerings and the potential for long-term agreements with data center developers and load-serving entities [7] - The evolving energy landscape, characterized by the retirement of dispatchable generators in favor of renewables, is creating opportunities for reliable baseload generation [8] - Management does not expect Q4 performance to match the exceptional results of Q3, anticipating a return to more typical conditions unless extreme weather occurs [22] Other Important Information - The company executed a $20 million prepaid forward power sales contract, which is a key component of its commercial strategy [6] - Total forward energy and capacity sales position was $571.7 million as of September 30, 2025, down from $685.7 million at the end of 2024 [16] Q&A Session Summary Question: What are the main milestones for the potential capacity expansion? - Management indicated that the MISO expedited process will determine the timeline for reviewing their application, with updates expected in the coming months [20][21] Question: How has Q4 started compared to Q3? - Management noted that Q4 is expected to resemble Q4 of 2024, with no significant catalysts anticipated to drive performance like Q3 [22] Question: Can you provide initial economics on the 525 MW expansion? - Management is still negotiating equipment and has not released detailed economics but is encouraged by market signals indicating a need for more capacity [27][28] Question: What impact might the recent government funding for coal have? - Management believes that government funding could be beneficial for the industry and that Hallador may have qualifying projects [30] Question: Are you seeing opportunities for M&A in the coal space? - Management expressed a preference for coal-related acquisitions, noting that such transactions are bespoke and take time to develop [37] Question: What is the status of discussions with potential customers? - Management confirmed ongoing negotiations with multiple parties, including utilities and data center developers, with increased interest noted [43][44]

Financial Data and Key Metrics Changes - Revenue increased by 40% year-over-year to $146.8 million for Q3 2025, compared to $105.2 million in the prior year period [15] - Net income surged to $23.9 million, a 14-fold increase from $1.6 million in the prior year [16] - Adjusted EBITDA rose 1.6 times to $24.9 million, compared to $9.6 million in the prior year [16] - Operating cash flow improved to $23.2 million, up from cash used of $12.9 million in the prior year [16] Business Line Data and Key Metrics Changes - Electric sales increased by 29% to $93.2 million, compared to $72.1 million in the prior year [14] - Coal sales rose by 42% to $68.8 million, compared to $48.3 million in the prior year [14] - Hallador Power delivered 1.6 million megawatt-hours at an average sales price of $49.29 per megawatt-hour, compared to 1.2 million megawatt-hours at $47.55 per megawatt-hour in the same period last year [11] Market Data and Key Metrics Changes - The favorable energy pricing environment was driven by traditional summer weather patterns, increased energy demand, and higher natural gas prices [14] - The company expects to produce approximately 3.8 million tons of coal in 2025, having produced 3.1 million tons through the first nine months [12] Company Strategy and Development Direction - The company submitted an application to the MISO ERIS program to add 525 megawatts of gas generation at the Merom site, indicating a strategic move to grow its generation portfolio [5] - Hallador is evaluating strategic opportunities to acquire additional dispatchable generation assets and infrastructure to diversify its portfolio and enhance growth [10] - The company is transitioning from a commodity-focused coal producer to a vertically integrated independent power producer, leveraging the energy transition to capture expanding margins in power markets [12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the strong market signals for their product offerings and the potential for long-term arrangements [4] - The evolving energy landscape, characterized by the retirement of dispatchable generators in favor of renewables, is creating opportunities for reliable baseload generation [9] - Management does not expect Q4 2025 to replicate the exceptional performance of Q3, anticipating it will resemble Q4 2024 unless extreme weather conditions occur [24] Other Important Information - The company executed a $20 million prepaid forward power sales contract, with delivery scheduled through the first half of 2027, which is a key component of its commercial strategy [6] - Total forward energy and capacity sales position was $571.7 million as of September 30, 2025, down from $685.7 million at the end of 2024 [17] Q&A Session Summary Question: What are the main milestones for the capacity expansion? - Management indicated that the MISO expedited process will review their application, with updates expected in the coming months [21][22] Question: How has Q4 started compared to Q3? - Management noted that Q4 is expected to look similar to Q4 of 2024, with no significant catalysts anticipated to drive performance like Q3 [24] Question: What are the economics of the 525 MW expansion? - Management is still negotiating equipment and has not released specific economic details yet, but they are encouraged by market signals [29][30] Question: What impact will the recent government funding for coal have? - Management believes that government funding could be beneficial for the industry and that Hallador may qualify for some projects [31] Question: Are there any M&A opportunities being pursued? - Management stated they are primarily focused on the coal space and are encouraged by ongoing conversations regarding potential acquisitions [38][39] Question: What is the status of discussions with potential customers? - Management confirmed they are in advanced discussions with multiple parties, including utilities and data center developers, to secure agreements [45][46]

Financial Performance - In Q3 2025, the company generated $146.8 million in revenue and $23.9 million in net income, a significant increase from $105.2 million in revenue and $1.6 million in net income in the same period last year[113]. - Total Electric Sales were $93.2 million, an increase of $21.1 million or 29.3% compared to Q3 2024[153]. - Year-to-date 2025 Total Electric Sales were $239.2 million, an increase of $46.2 million or 23.9% compared to YTD 2024[156]. - Electric Operations income before income taxes in Q3 2025 was $18.3 million, a decrease of $0.9 million or 4.8% compared to Q3 2024[153]. - Year-to-date 2025 Electric Operations income before income taxes was $49.1 million, an increase of $8.2 million or 20.0% compared to YTD 2024[156]. - The company reported a basic earnings per share of $0.56 for Q3 2025, compared to a loss of $5.06 in Q4 2024[162]. Sales and Operations - The company sold 1.6 million MWh in Q3 2025, representing a 100% increase from Q2 2025, with electric sales averaging $59.09 per MWh[136]. - Total electric sales in Q3 2025 reached $93.2 million, a 55.3% increase from Q2 2025, while total electric operations expenses were $75.2 million, up 46% from the previous quarter[138]. - Delivered Energy revenue increased $21.5 million or 38.3% in Q3 2025, with 0.4 million more MWh sold, a 33.4% increase[153]. - Coal operations generated $68.8 million in sales in Q3 2025, a 51.2% increase from Q2 2025, with net income rising 335.7% to $6.1 million[139]. - In Q3 2025, Total Coal Sales were $68.8 million, an increase of $20.5 million or 42.4% compared to Q3 2024[159]. - Coal sales increased by $20.5 million, or 42.4%, compared to Q3 2024, with a total of $169.1 million in YTD 2025[160]. Expenses and Costs - Total Electric Operations expenses in Q3 2025 were $75.2 million, an increase of $22.1 million or 41.6% compared to Q3 2024[153]. - Fuel costs increased $14.6 million or 48.3% in Q3 2025, with a per MWh increase of $2.85 or 11.2%[153]. - Total Coal Operations Expenses in Q3 2025 were $66.7 million, an increase of $2.7 million or 4.2% compared to Q3 2024[159]. - Other operating and maintenance costs rose by $8.0 million, or 29.7%, compared to Q3 2024, totaling $173.4 million in YTD 2025[160]. - Labor costs decreased by $8.6 million, or 12.9%, compared to the first nine months of 2024, due to organizational restructuring[160]. - Interest expense for the nine months ended September 30, 2025, was $6.21 million, compared to $0.51 million in 2024, reflecting a significant increase[148]. Capacity and Contracts - The company achieved an accredited capacity utilization of 93% in Q3 2025, compared to 59% in Q3 2024[130]. - The company has contracted approximately $58.1 million or 89.4% of its target for forward capacity sales in 2025, aiming for annual sales of around $65 million[131]. - Contracted revenue for Power and Coal segments totaled $921.70 million, with $571.72 million from Power and $349.98 million from Coal[140]. - Average daily contracted capacity was 668 MW in Q4 2025, with an average contracted capacity price per MWd of $211[140]. - The company entered into a $20 million prepaid forward power sales contract with deliveries scheduled through the first half of 2027, aimed at improving liquidity and securing long-term power purchase agreements[115]. Future Projections and Developments - The company expects to produce approximately 3.8 million tons of coal in 2025, with an average contracted sales price in 2026 projected to be $4.00 per ton higher than in 2025[125][124]. - Hallador Power submitted an application to add 525 MW of gas generation at the Merom site, targeting generation to come online by late 2028[120]. - The company is in advanced discussions with data center developers and load-serving entities, anticipating positive progress towards long-term agreements by early 2026[116]. Cash Flow and Liquidity - Cash provided by operations was $73.0 million for the nine months ended September 30, 2025, compared to $27.0 million for the same period in 2024, indicating a year-over-year increase of 170.4%[147]. - Total liquidity as of September 30, 2025, was $46.4 million, with an additional borrowing capacity of $33.8 million[147]. - The effective tax rate for the nine months ended September 30, 2025, is estimated at ~0% compared to ~24% for the same period in 2024[163]. Reclamation and Obligations - The company recorded a present value of reclamation obligations of $17.7 million, with surety bonds totaling $30.9 million in place to cover asset retirement obligations[143].

Financial Performance - Q3 total revenue increased by 40% year-over-year to $146.8 million, with coal sales up 62% to $51.3 million and electric sales up 29% to $93.2 million[3] - Q3 net income rose to $23.9 million, or $0.56 earnings per share, compared to $1.6 million in Q3 2024[4] - Adjusted EBITDA for Q3 increased 1.6 times to $24.9 million, up from $9.6 million in the same quarter last year[4] - Total sales and operating revenues for Q3 2025 reached $146.846 million, a 39.7% increase from $105.155 million in Q3 2024[18] - Net income for the nine months ended September 30, 2025, was $42.111 million, compared to a net loss of $10.346 million for the same period in 2024[20] - The company reported a basic net income per share of $0.56 for Q3 2025, compared to $0.04 for Q3 2024[18] Cash Flow and Liquidity - Operating cash flow for Q3 was $23.2 million, which was utilized for capital expenditures and debt service[4] - Operating cash flow for the nine months ended September 30, 2025, was $72.978 million, significantly higher than $26.985 million for the same period in 2024[20] - Total liquidity improved to $46.4 million at the end of Q3 2025, compared to $42.0 million at the end of Q2 2025[5] - Cash and cash equivalents increased to $12.663 million as of September 30, 2025, compared to $7.232 million at the end of 2024, marking a 75.5% increase[16] Capital Expenditures and Debt - Capital expenditures in Q3 were $19.5 million, bringing year-to-date capital expenditures to $44.3 million[5] - Capital expenditures for the nine months ended September 30, 2025, totaled $44.277 million, compared to $39.606 million in 2024, indicating a 11.8% increase[20] - Total bank debt decreased to $44.0 million as of September 30, 2025, down from $45.0 million at June 30, 2025[5] Assets and Liabilities - Total current assets rose to $136.546 million as of September 30, 2025, compared to $104.858 million at the end of 2024, reflecting a 30.2% increase[16] - Total liabilities decreased slightly to $263.273 million as of September 30, 2025, from $264.835 million at the end of 2024[16] - Total stockholders' equity increased to $146.188 million as of September 30, 2025, from $104.285 million at the end of 2024, reflecting a 40.3% increase[16] Future Plans and Contracts - The company filed an application for a 525 MW gas generation expansion through MISO's ERAS program, targeting an online date in Q4 2028[2] - Hallador signed a 5-month, $20.0 million prepaid forward sales contract scheduled for delivery between January 2027 and May 2027[6] - Total forward energy, capacity, and coal sales to third-party customers amounted to $921.7 million through 2029[6]

- Q3 Total Revenue up 40% YoY to $146.8 Million -- Q3 Net Income Increases to $23.9 Million or $0.56 Earnings per Share -- Q3 Operating Cash Flow of $23.2 Million -- Q3 Adjusted EBITDA up 1.6x to $24.9 Million -- Filed ERAS Application for 525MW Gas Generation Expansion - TERRE HAUTE, Ind., Nov. 10, 2025 (GLOBE NEWSWIRE) -- Hallador Energy Company (Nasdaq: HNRG) (“Hallador” or the “Company”) today reported its financial results for the third quarter ended September 30, 2025. “This was an exceptional quart ...

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Core Points - Hallador Energy Company will host a conference call on November 10, 2025, at 5:00 p.m. Eastern time to discuss its financial results for Q3 2025 [1][2] - The results will be reported in a press release prior to the call [1] - Interested parties can submit questions to the investor relations team before the call [2] Company Overview - Hallador Energy Company is a vertically-integrated Independent Power Producer (IPP) based in Terre Haute, Indiana [3] - The company operates two core businesses: Hallador Power Company, LLC, which produces electricity at the one-Gigawatt (GW) Merom Generating Station, and Sunrise Coal, LLC, which supplies fuel to the Merom Generating Station and other companies [3]

Core Viewpoint - Hallador Energy (HNRG) has established a cup base with a buy point set at 22.01, indicating potential for upward movement in stock price [1] Group 1: Stock Performance - Shares of Hallador Energy have experienced a five-session winning streak as of Thursday, reflecting positive momentum in the market [1] - The weekly chart indicates a lower handle entry point at 20.05, providing an additional opportunity for investors [1] Group 2: Market Patterns - Hallador Energy's shares are currently in a late-stage, base-on-base pattern, which may suggest a more mature phase of stock development compared to earlier-stage bases [1]