Hallador Energy Company Reports First Quarter 2025 Financial and Operating Results

Core Insights - Hallador Energy Company reported a strong financial performance in Q1 2025, with total revenue increasing by 6% year-over-year to $117.8 million, driven primarily by a significant rise in electric sales [1][5] - The company achieved a net income of $10.0 million, translating to earnings per share of $0.23, marking a substantial improvement compared to the previous year [1][5] - Operating cash flow surged approximately 2x year-over-year to $38.4 million, while adjusted EBITDA rose nearly 3x year-over-year to $19.3 million [1][5] Financial Performance - Total revenue for Q1 2025 was $117.8 million, up 6% from Q1 2024 and 24% from Q4 2024, with electric sales contributing $85.9 million, representing 73% of the revenue mix [4][5] - Net income increased to $10.0 million from a loss of $1.7 million in Q1 2024, with adjusted EBITDA rising to $19.3 million from $6.8 million in the same period last year [6][20] - Operating cash flow for the quarter was $38.4 million, compared to $16.4 million in Q1 2024, supporting debt repayment and capital expenditures [5][23] Strategic Developments - The company is negotiating with a leading global data center developer for a long-term supply of capacity and energy, with significant investments made by the partner [2] - Hallador is focusing on dual-fuel capabilities and potential acquisitions of dispatchable generation assets to enhance its growth prospects [2] - The company has a robust contracted sales book, with total forward energy, capacity, and coal sales to third-party customers amounting to $1.1 billion through 2029 [5][10] Debt and Liquidity - Total bank debt was reduced to $23.0 million as of March 31, 2025, down from $44.0 million at the end of 2024 and $77.0 million a year earlier [5][6] - Total liquidity increased to $69.0 million at the end of Q1 2025, compared to $37.8 million at the end of 2024 [5][6] Capital Expenditures - Capital expenditures in Q1 2025 were $11.7 million, a decrease from $14.9 million in the same period last year [5][26]