Hallador Energy pany(US:HNRG)2025-05-12 20:19Financial Performance - Q1 2025 total revenue increased by 6% year-over-year to $117.8 million, driven by a 73% contribution from electric sales, which rose to $85.9 million[1][3] - Q1 net income significantly improved to $10.0 million, with adjusted EBITDA up approximately 3x year-over-year to $19.3 million[1][3] - Total sales and operating revenues for Q1 2025 were $117,787,000, an increase of 5.4% compared to $111,574,000 in Q1 2024[17] - Electric sales increased to $85,943,000 in Q1 2025 from $60,681,000 in Q1 2024, representing a growth of 41.5%[17] - Net income for Q1 2025 was $9,979,000, a significant improvement from a net loss of $1,696,000 in Q1 2024[17] - Basic net income per share for Q1 2025 was $0.23, compared to a loss of $0.05 per share in Q1 2024[17] - Cash provided by operating activities in Q1 2025 was $38,419,000, up from $16,369,000 in Q1 2024[19] Cash Flow and Debt Management - Operating cash flow for Q1 2025 was $38.4 million, supporting debt repayment and capital expenditures, which totaled $11.7 million[1][3] - Total bank debt was reduced to $23.0 million as of March 31, 2025, down from $44.0 million at the end of 2024[3] - Payments on bank debt in Q1 2025 totaled $33,000,000, compared to $26,500,000 in Q1 2024[21] - Cash, cash equivalents, and restricted cash at the end of Q1 2025 were $16,207,000, an increase from $6,372,000 at the end of Q1 2024[21] Capital Expenditures and Resource Allocation - Capital expenditures in Q1 2025 were lower than the previous year, reflecting a focus on efficient resource allocation[3] - Capital expenditures for Q1 2025 were $11,693,000, down from $14,874,000 in Q1 2024[21] Future Growth and Strategic Initiatives - Hallador has secured $1.1 billion in forward energy, capacity, and coal sales to third-party customers through 2029, indicating strong future revenue potential[3][9] - The company is negotiating a long-term supply agreement with a leading global data center developer, which could enhance future capacity and energy supply[2][10] - Hallador's strategic shift to a vertically integrated independent power producer is expected to drive sustained growth amid rising demand for reliable power[2][10] - Hallador's evaluation of dual-fuel capabilities and potential acquisitions of dispatchable generation assets reflects confidence in long-term growth opportunities[2][10] Liquidity and Current Liabilities - The company reported a total liquidity of $69.0 million as of March 31, 2025, compared to $37.8 million at the end of 2024[3] - Total current liabilities increased to $177,052,000 in Q1 2025 from $152,903,000 in Q4 2024[15] - Total assets decreased slightly to $366,097,000 in Q1 2025 from $369,120,000 in Q4 2024[15]