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Hallador Energy pany(HNRG) - 2024 Q4 - Annual Results
HNRGHallador Energy pany(HNRG)2025-03-17 21:29

Financial Performance - Q4 2024 total revenue reached 94.2million,withFY′24totalrevenueat94.2 million, with FY'24 total revenue at 404.4 million[1] - Total sales and operating revenues decreased to 404.394millionin2024from404.394 million in 2024 from 634.878 million in 2023, a decline of approximately 36%[18] - Net loss for 2024 was 226.138million,comparedtoanetincomeof226.138 million, compared to a net income of 44.793 million in 2023, representing a significant turnaround in performance[18] Cash Flow and Assets - Q4 2024 operating cash flow increased to 32.5million,whileFY′24operatingcashflowtotaled32.5 million, while FY'24 operating cash flow totaled 65.9 million[1] - Cash and cash equivalents rose to 7.232millionin2024from7.232 million in 2024 from 2.842 million in 2023, an increase of over 154%[22] - Net cash provided by operating activities was 65.934millionin2024,comparedto65.934 million in 2024, compared to 59.414 million in 2023, indicating improved cash flow from operations[20] Sales Breakdown - Electric sales in Q4 2024 were 69.7million,accountingfor7469.7 million, accounting for 74% of total revenue, compared to 37.1 million or 31% in the same period last year[4][5] - Coal sales in Q4 2024 were 23.4million,representing2523.4 million, representing 25% of total revenue, down from 81.3 million or 68% in the prior year[5] Debt and Liabilities - Total bank debt decreased by over 50% to 44millionatyear−end2024,downfrom44 million at year-end 2024, down from 91.5 million at the end of 2023[11] - Total liabilities decreased to 264.835millionin2024from264.835 million in 2024 from 321.192 million in 2023, a reduction of approximately 17.5%[16] Capital Expenditures and Impairments - Capital expenditures were reduced to 53.367millionin2024from53.367 million in 2024 from 75.352 million in 2023, a decrease of approximately 29%[22] - The company reported a significant asset impairment charge of 215.136millionin2024,comparedtonosuchchargein2023[18]EquityandShares−Theweightedaveragesharesoutstandingincreasedto39.504millionin2024from33.133millionin2023,reflectingadilutioninsharevalue[18]−Thecompany’stotalstockholders′equitydecreasedto215.136 million in 2024, compared to no such charge in 2023[18] Equity and Shares - The weighted average shares outstanding increased to 39.504 million in 2024 from 33.133 million in 2023, reflecting a dilution in share value[18] - The company’s total stockholders' equity decreased to 104.285 million in 2024 from 268.588millionin2023,adeclineofapproximately61268.588 million in 2023, a decline of approximately 61%[16] Strategic Initiatives - Hallador has secured total forward energy, capacity, and coal sales to third-party customers of 1.1 billion through 2029, up from 937.2millionattheendofQ32024[11]−Thecompanyisactivelypursuingopportunitiestoacquireadditionaldispatchablegeneratorstoenhanceitselectricoperations[2]−Halladorsignedanexclusivecommitmentagreementwithaleadingglobaldatacenterdeveloper,markingasignificantmilestoneinitstransformationstrategy[11]ProductionAdjustments−Thecompanyreducedcoalproductionvolumebyapproximately40937.2 million at the end of Q3 2024[11] - The company is actively pursuing opportunities to acquire additional dispatchable generators to enhance its electric operations[2] - Hallador signed an exclusive commitment agreement with a leading global data center developer, marking a significant milestone in its transformation strategy[11] Production Adjustments - The company reduced coal production volume by approximately 40% in 2024, leading to a non-cash write-down of approximately 215 million for Sunrise Coal[3] EBITDA Performance - Q4 2024 adjusted EBITDA surged approximately 3x year-over-year to 6.2million,withFY′24adjustedEBITDAat6.2 million, with FY'24 adjusted EBITDA at 16.8 million[1]