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 Company (NASDAQ – HNRG) has successfully acquired the 1-Gigawatt Merom Generating Station from Hoosier Energy. This acquisition is facilitated through Hallador's new subsidiary, Hallador Power Company, LLC, and involves taking on certain decommissioning and environmental responsibilities. A 3.5-year power purchase agreement (PPA) will ensure Hoosier purchases all energy and capacity from the plant until May 2023, with reduced purchases thereafter. This strategic move is seen as a pathway to transition the facility to renewable energy and aims to diversify Hallador's earnings platform.
Hallador Energy Company (NASDAQ – HNRG) reported a net loss of $3.4 million, or $0.11 per share, for Q2 2022, alongside an adjusted EBITDA of $11.5 million. The company improved its cost structure by approximately $8 per ton compared to Q1, achieving production of 1.8 million tons at a cost of $31.83 per ton. It raised $29 million in convertible debt to boost liquidity and signed contracts for 2.2 million tons of future sales at over $125 per ton. The acquisition of the Merom power plant is pending approvals.
Hallador Energy Company (HNRG) announced plans to release its second quarter 2022 financial results on Form 10-Q after the market closes on August 15, 2022. An investor conference call will take place on August 16, 2022, at 2:00 p.m. ET to discuss the results. The call will be available via webcast on Hallador's website, and a recording will be accessible until August 23, 2022.
Hallador Energy Company (HNRG) announced new coal contracts boosting volumes and pricing for Q4 2022 through 2023, increasing EBITDA guidance to $160MM. Expected average coal prices are set at $56.50 per ton for Q4 2022 and $58.50 for Q1-Q4 2023, with total volumes rising to 1.8MM tons. Enhanced production will originate from the Oaktown Mining Complex and new sites near Petersburg and Freelandville, though costs may rise to $36/ton. Acquisition of the Merom Power Plant is anticipated to close in Q3 2022 but won't significantly impact EBITDA until later.
Hallador Energy Company will host an investor conference call on May 24, 2022, at 2:00 p.m. ET to discuss its 1st quarter 2022 financial results. The call will be available via webcast on the company's website and can be accessed through a toll-free US dial-in number. An audio recording will be available until May 31, 2022. Hallador, based in Terre Haute, Indiana, produces coal through its subsidiary Sunrise Coal for the electric power generation sector.
Hallador Energy Company (Nasdaq: HNRG) will conduct an investor conference call on March 24, 2022, at 2:00 p.m. ET to discuss its Q1 2022 financial results. The call will be accessible via a live webcast on Hallador's official website and will remain available for a limited time. Interested participants can join the call by dialing specific US and international numbers, with an access code provided. A recording will be available until May 31, 2022. Hallador operates through its subsidiary, Sunrise Coal, LLC, focusing on coal production in the Illinois Basin for power generation.
Hallador Energy Company (NASDAQ – HNRG) reported a net loss of $3.8 million or $0.12 per share for Q1 2022. The acquisition of the 1-Gigawatt Merom Generation Station, expected to close by mid-July 2022, is anticipated to be a pivotal growth driver, potentially doubling adjusted EBITDA starting in 2023. Hallador successfully executed 5.8 million tons of new coal sales contracts in 2021, increasing volumes to 6.8 million tons in 2022, with a projected average sales price increase of $3.29 per ton in 2023. The firm maintains a strong liquidity position with a leverage ratio of 2.34x.
Hallador Energy Company will release its 4th quarter and year-end 2021 financial results on Form 10-K after market close on March 28, 2022. An investor conference call and webcast are scheduled for March 29, 2022, at 2:00 p.m. ET to discuss these results. Interested participants can access the call via the company's website or by dialing in using the provided numbers. A recording will be available until April 5, 2022. Hallador, through its subsidiary Sunrise Coal, produces coal for the electric power generation industry.
Hallador Energy (NASDAQ: HNRG), through Hallador Power Company, will acquire Hoosier Energy's 1-Gigawatt Merom Generating Station, assuming decommissioning and environmental responsibilities. This deal includes a 3.5-year power purchase agreement, closing expected in mid-July 2022. Hoosier will purchase 100% of the plant's energy until May 2023 before reducing to 22% energy output through 2025. This strategic acquisition aims to secure long-term demand for Hallador's coal production while transitioning toward renewable energy. The deal is projected to provide value to shareholders and preserve over 100 local jobs.
Hallador Energy Company (NASDAQ: HNRG) reported a strong financial performance for Q3 2021, with a net income of $8.0 million ($0.26 per share) and adjusted EBITDA of $20.5 million. The company experienced record coal shipments totaling 2.04 million tons, generating $14.6 million in Adjusted Free Cash Flow. A significant decrease in average price per ton and an increase in production costs were noted, although a $3 per ton price increase is anticipated in Q4. Bank debt was reduced to $114.9 million, reflecting a solid liquidity of $41.7 million. The $10 million PPP loan was fully forgiven during July.