Hallador Energy pany(HNRG) - 2024 Q4 - Annual Results

Financial Performance - Q4 2024 total revenue reached $94.2 million, with FY'24 total revenue at $404.4 million[1] - Total sales and operating revenues decreased to $404.394 million in 2024 from $634.878 million in 2023, a decline of approximately 36%[18] - Net loss for 2024 was $226.138 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 $32.5 million, while FY'24 operating cash flow totaled $65.9 million[1] - Cash and cash equivalents rose to $7.232 million in 2024 from $2.842 million in 2023, an increase of over 154%[22] - Net cash provided by operating activities was $65.934 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 $69.7 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 $23.4 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 $44 million at year-end 2024, down from $91.5 million at the end of 2023[11] - Total liabilities decreased to $264.835 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 $53.367 million in 2024 from $75.352 million in 2023, a decrease of approximately 29%[22] - The company reported a significant asset impairment charge of $215.136 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 $268.588 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 $937.2 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 $6.2 million, with FY'24 adjusted EBITDA at $16.8 million[1]