Hallador Energy pany(HNRG) - 2025 Q3 - Quarterly Results

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]