Hallador Energy Company reports developments tied to its vertically integrated independent power and fuel business in Indiana. The company operates electric and coal businesses, with electric operations in the Midcontinent Independent System Operator footprint and coal operations that support its fuel and sales activities.
Recurring HNRG news includes financial and operating results, accredited capacity sales, energy and coal sales, contracted revenue updates, credit facilities, and liquidity actions. Company updates also cover board composition, executive roles, compensation plans, risk oversight, and other governance matters connected to Hallador’s power-generation and coal operations.
Hallador Energy (Nasdaq: HNRG) reported full-year 2025 results with total revenue up 16% to $469.5M, operating cash flow up 23% to $81.1M, and Adjusted EBITDA rising ~3x to $56.0M. The company’s Merom ERAS application was accepted for a 515 MW gas expansion (~50% generation increase) with a ~$14M deposit and target completion by Q3 2029.
Hallador ended 2025 with $30.0M bank debt, $38.8M liquidity, ~$1.3B forward commitments through 2029, and closed a new $120M 3-year secured credit facility in March 2026.
Hallador Energy (Nasdaq: HNRG) closed a $120 million Senior Secured Credit Agreement on March 5, 2026, maturing March 5, 2029. The Facilities comprise a $75 million revolving credit facility and a $45 million delayed draw term loan facility.
The revolving facility includes a $25 million letters-of-credit sub-facility, a $10 million swingline, and an accordion feature to request up to $25 million incremental commitments. The Company plans to use proceeds to refinance its prior credit facility, provide working capital and support strategic growth. Texas Capital Bank serves as administrative agent; Old National Bank and First Financial Bank participated in the syndicate.
Hallador Energy (Nasdaq: HNRG) appointed Daniel Hudson to its Board, effective March 6, 2026, expanding the Board to seven members with six independent directors. Mr. Hudson brings over three decades in power generation and has led or advised on $35 billion in energy transactions.
Also effective March 6, 2026, Heath Lovell was promoted to Chief Operating Officer, retaining his roles as President of Hallador Power Company and Sunrise Coal and bringing operational leadership with prior regional coal operations experience and an MBA.
Hallador Energy (Nasdaq: HNRG) will hold a conference call on March 12, 2026 at 5:00 p.m. ET to discuss fourth quarter and full year results for the period ended December 31, 2025. A press release with results will be issued prior to the call.
Management will lead the call with Q&A. Interested parties may submit questions in advance to the investor relations team at HNRG@elevate-ir.com. Dial-in and live webcast registration links are available, and a replay will be hosted in the investor relations section at www.halladorenergy.com.
Hallador Energy (Nasdaq: HNRG) priced an underwritten public offering of 2,777,778 common shares at $18.00 per share, expected to raise approximately $50 million in gross proceeds before underwriting discounts, commissions and expenses. The underwriters have a 30-day option to buy up to an additional 416,666 shares. Closing is expected on or about January 15, 2026, subject to customary closing conditions. Net proceeds are intended for general corporate purposes, including funding initial financial commitments for a planned additional natural gas generating facility. Texas Capital Securities is sole bookrunner; Northland Capital Markets and A.G.P./Alliance Global Partners are co-managers.
Hallador Energy (Nasdaq: HNRG)/b) announced a proposed underwritten public offering of of common stock, with an underwriter option to purchase up to an additional 15% of the shares for 30 days. All shares will be sold by Hallador and the offering is subject to market conditions and may not be completed as described. Net proceeds are intended for general corporate purposes, including possible initial payments for reserve equipment to support a planned additional natural gas generating facility. Texas Capital Securities is sole bookrunner and Northland Capital Markets is co-manager. The offering uses an automatically effective Form S-3; a prospectus supplement will be filed with the SEC.
Hallador Energy (Nasdaq: HNRG) announced that Barbara Sugg was appointed to its Board of Directors effective January 1, 2026, replacing David Hardie, who resigned effective the same date.
With Sugg's election the Board remains at six members, five of whom are independent under Nasdaq standards. Sugg is the former President and CEO of Southwest Power Pool, where she led an organization of >800 employees, secured funding for joint transmission projects totaling approximately $2 billion, oversaw reliable integration of >10 gigawatts of energy resources, and led SPP's expansion into the western interconnection. She holds a BS in Computer Science and completed Harvard Business School's Advanced Management Program.
Hallador Energy (Nasdaq: HNRG) finalized its application to the Expedited Resource Addition Study (ERAS) program on Dec. 16, 2025, and made deposits totaling approximately $13 million as required.
The ERAS filing seeks an expedited pathway for up to 515 MW of natural gas generation adjacent to Hallador’s Merom Generating Station. The company said it is evaluating financing options, expects to secure generating infrastructure while the ERAS application is under review, and filed a prospectus supplement to raise up to $50 million of common stock under its existing ATM program.
Hallador Energy (Nasdaq: HNRG) reported strong Q3 2025 results on November 10, 2025, driven by higher power prices and robust coal shipments. Total revenue rose 40% YoY to $146.8M, coal sales were $51.3M (+62% YoY) and electric sales were $93.2M (+29% YoY). Net income was $23.9M (EPS $0.56) and Adjusted EBITDA was $24.9M. Operating cash flow was $23.2M and Q3 capex was $19.5M (YTD $44.3M). The company filed an ERAS application to add 525 MW of gas generation at Merom targeting online in Q4 2028. Total forward contracted revenue to third parties was $921.7M through 2029.
Hallador Energy (NASDAQ: HNRG) will host a conference call on Monday, November 10, 2025 at 5:00 p.m. Eastern to discuss third-quarter results for the period ended September 30, 2025. The company said it will issue a press release with results prior to the call, and management will conduct a Q&A following prepared remarks. Interested parties may submit questions in advance to the investor relations team at HNRG@elevate-ir.com. The call will be accessible via dial-in registration and a live webcast, and a replay will be available in the investor relations section at www.halladorenergy.com.