- Signs Non-Binding Term Sheet with Leading Global Data Center Developer to Supply Power for 10+ years -
- Q3 Total Revenue of $105.0 Million -
- Q3 Net Income of $1.6 Million or $0.04 Earnings per Share -
- Q3 Operating Cash Flow of ($12.9) Million -
- Q3 Adjusted EBITDA of $9.6 Million -
TERRE HAUTE, Ind., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Hallador Energy Company (Nasdaq: HNRG) (“Hallador” or the “Company”), today reported its financial results for the third quarter ended September 30, 2024.
“During the quarter, we reached an important milestone in our transformation to an independent power producer as we signed a non-binding term sheet with a leading global data center developer,” said Brent Bilsland, President and Chief Executive Officer. “Our team is working diligently to finalize definitive agreements with this partner and the relevant utility that will support the delivery of our energy and capacity to the large load end user. The proposed transaction involves selling the energy and capacity to the end-user through a utility or cooperative, which would be an “in front of the meter” transaction in contrast to the “behind the meter” structures that have created recent regulatory challenges for others. If we are successful in executing definitive agreements, the proposed transaction would contract the majority of our plant’s energy and capacity at prices higher than the forward curve for more than a decade to come.
“While we have not yet reached binding agreements, we are encouraged by our progress with this partner and by the strong interest we continue to see from other potential counterparties in our energy and capacity offerings, which have been bolstered by Indiana’s efforts to attract datacenters and other high density power users with its business-friendly climate and favorable tax policy. We believe we hold a considerable portion of the remaining unsold accredited capacity in MISO Zone 6, covering Indiana and parts of western Kentucky and we are well positioned to take advantage of the significant demand for our capacity.”
Bilsland continued, “Additionally, we have made considerable strides in strengthening our balance sheet in recent months. Subsequent to quarter end, we executed a $60 million prepaid power purchase agreement (PPA) and utilized $20 million of the proceeds to pay down bank term debt and $34 million to pay down the revolver. At the end of October our bank debt balance was $23.5 million compared to $91.5 million outstanding at the end of 2023. Between our strengthened balance sheet and an improving environment for both coal and power sales, we are poised to exit 2024 on strong footing which should allow us to capitalize on the long-term multi-year growth opportunities ahead.”
Third Quarter 2024 Highlights
- Hallador returned to growth on both the top and bottom line compared to the second quarter.
- Total revenue increased 12% to $105 million, driven by a 21% increase in electric sales to $71.7 million. This marks a near Company record for electric sales revenue mix, as Hallador continues to emphasize electric sales as an independent power producer.
- Net income increased to $1.6 million compared to $(10.2) million in the second quarter, with adjusted EBITDA up significantly to $9.6 million compared to $(5.8) million as the Company returned to profitability through improved power pricing and lower costs per MWh at its Merom Power Plant.
- Total revenue increased 12% to $105 million, driven by a 21% increase in electric sales to $71.7 million. This marks a near Company record for electric sales revenue mix, as Hallador continues to emphasize electric sales as an independent power producer.
- The Company is now strengthening its balance sheet (post quarter-end) without equity dilution.
- Total bank debt was $70.0 million at September 30, 2024, compared to $45.5 million at June 30, 2024 and $91.5 million at December 31, 2023.
- Total liquidity was $34.9 million at September 30, 2024 compared to $60.7 million at June 30, 2024 and $26.2 million at December 31, 2023.
- Subsequent to quarter-end, the Company secured a $60 million prepaid PPA and utilized $20 million of the proceeds to pay down bank term debt and $34 million to pay down its revolver. At October 31, 2024, total bank debt was $23.5 million and total liquidity was $53.8 million.
- The Company did not utilize its ATM program in the third quarter or subsequent to quarter-end.
- Total bank debt was $70.0 million at September 30, 2024, compared to $45.5 million at June 30, 2024 and $91.5 million at December 31, 2023.
- Hallador continues to focus on forward sales to secure its energy position.
- At quarter-end, Hallador had total forward energy, capacity and coal sales to 3rd party customers of $937.2 million through 2029, up from $871.7 at the end of the second quarter.
- Hallador signed a non-binding term sheet with a leading global data center developer to support the delivery of energy and capacity to a large load end user customer for 10+ years. The completion of the proposed transaction is subject to, among other matters, the negotiation and execution of definitive agreements and there can be no assurance that definitive agreements will be entered into or that the proposed transaction will be consummated on the terms or timeframe currently contemplated, or at all.
- At quarter-end, Hallador had total forward energy, capacity and coal sales to 3rd party customers of $937.2 million through 2029, up from $871.7 at the end of the second quarter.
| Financial Summary ($ in Millions and Unaudited) | |||||||||||||||
| Q3 2023 | Q1 2024 | Q2 2024 | Q3 2024 | ||||||||||||
| Electric Sales | $ | 67.4 | $ | 58.8 | $ | 56.8 | $ | 71.7 | |||||||
| Coal Sales - 3rd Party | $ | 97.4 | $ | 49.6 | $ | 32.8 | $ | 31.7 | |||||||
| Other Revenue | $ | 1.0 | $ | 1.3 | $ | 1.3 | $ | 1.6 | |||||||
| Total Revenue | $ | 165.8 | $ | 109.7 | $ | 90.9 | $ | 105.0 | |||||||
| Net Income (Loss) | $ | 16.1 | $ | (1.7 | ) | $ | (10.2 | ) | $ | 1.6 | |||||
| Operating Cash Flow | $ | 35.3 | $ | 16.4 | $ | 23.5 | $ | (12.9 | ) | ||||||
| Adjusted EBITDA* | $ | 35.9 | $ | 6.8 | $ | (5.8 | ) | $ | 9.6 | ||||||
_____________________
* Non-GAAP financial measure, defined as operating cash flows less effects of certain subsidiary and equity method investment activity, plus bank interest, less effects of working capital period changes, plus other amortization
Adjusted EBITDA should not be considered an alternative to net income, income from operations, cash flows from operating activities or any other measure of financial performance presented in accordance with GAAP. Our method of computing Adjusted EBITDA may not be the same method used to compute similar measures reported by other companies.
Management believes the non-GAAP financial measure, Adjusted EBITDA, is an important measure in analyzing our liquidity and is a key component of certain material covenants contained within our Credit Agreement, specifically the minimum quarterly EBITDA. Noncompliance with the covenants could result in our lenders requiring the Company to immediately repay all amounts borrowed. If we cannot satisfy these financial covenants, we would be prohibited under our Credit Agreement from engaging in certain activities, such as incurring additional indebtedness, making certain payments, and acquiring and disposing of assets. Consequently, Adjusted EBITDA is critical to the assessment of our liquidity. The required amount of Adjusted EBITDA is a variable based on our debt outstanding and/or required debt payments at the time of the quarterly calculation based on a rolling prior 12‑month period.
Reconciliation of the non-GAAP financial measure, Adjusted EBITDA, to cash provided by operating activities, the most comparable GAAP measure, is as follows (in thousands) for the three and nine months ended September 30, 2024 and 2023, respectively.
| Reconciliation of GAAP "Cash provided by (used in) operating activities" to non-GAAP "Adjusted EBITDA" (In $ Thousands and Unaudited) | |||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||
| September 30, | September 30, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Cash provided by operating activities | $ | (12,906 | ) | $ | 35,284 | $ | 26,985 | $ | 79,527 | ||||||
| Current income tax expense | — | (178 | ) | — | 315 | ||||||||||
| Loss from Hourglass Sands | — | 1 | 1 | 3 | |||||||||||
| Loss from Sunrise Indemnity | — | — | 12 | — | |||||||||||
| Distribution from Sunrise Energy | — | — | — | (625 | ) | ||||||||||
| Bank and convertible note interest expense | 2,254 | 2,428 | 9,113 | 7,632 | |||||||||||
| Working capital period changes | 18,821 | (8,285 | ) | (24,659 | ) | 8,105 | |||||||||
| Other long-term asset and liability changes | 51 | (210 | ) | (1,352 | ) | (914 | ) | ||||||||
| ASC 606 Capacity Adjustment | — | 3,703 | (3,703 | ) | 3,703 | ||||||||||
| Cash paid on asset retirement obligation reclamation | 218 | 1,355 | 820 | 2,286 | |||||||||||
| Other amortization | 1,119 | 1,822 | 3,367 | 5,200 | |||||||||||
| Adjusted EBITDA | $ | 9,557 | $ | 35,920 | $ | 10,584 | $ | 105,232 | |||||||
| Cash (used in) provided by investing activities | $ | (10,663 | ) | $ | (18,136 | ) | $ | (36,233 | ) | $ | (48,684 | ) | |||
| Cash (used in) provided by financing activities | $ | 22,482 | $ | (16,802 | ) | $ | 11,766 | $ | (30,553 | ) | |||||
| Solid Forward Sales Position - Segment Basis, Before Intercompany Eliminations (unaudited): | |||||||||||||||||||||||||||
| 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | Total | |||||||||||||||||||||
| Power | |||||||||||||||||||||||||||
| Energy | |||||||||||||||||||||||||||
| Contracted MWh (in millions) | 0.81 | 2.56 | 1.83 | 1.78 | 1.09 | 0.27 | 8.34 | ||||||||||||||||||||
| Average contracted price per MWh | $ | 35.51 | $ | 35.81 | $ | 55.37 | $ | 54.65 | $ | 53.07 | $ | 51.33 | |||||||||||||||
| Contracted revenue (in millions) | $ | 28.76 | $ | 91.67 | $ | 101.33 | $ | 97.28 | $ | 57.85 | $ | 13.86 | $ | 390.75 | |||||||||||||
| Capacity | |||||||||||||||||||||||||||
| Average daily contracted capacity MW | 716 | 801 | 744 | 623 | 454 | 100 | |||||||||||||||||||||
| Average contracted capacity price per MW | $ | 205 | $ | 198 | $ | 230 | $ | 226 | $ | 225 | $ | 230 | |||||||||||||||
| Contracted capacity revenue (in millions) | $ | 13.54 | $ | 57.89 | $ | 62.46 | $ | 51.39 | $ | 37.39 | $ | 3.47 | $ | 226.14 | |||||||||||||
| Total Energy & Capacity Revenue | |||||||||||||||||||||||||||
| Contracted Power revenue (in millions) | $ | 42.30 | $ | 149.56 | $ | 163.79 | $ | 148.67 | $ | 95.24 | $ | 17.33 | $ | 616.89 | |||||||||||||
| Coal | |||||||||||||||||||||||||||
| Priced tons - 3rd party (in millions) | 0.66 | 1.78 | 1.50 | 1.50 | 0.50 | — | 5.94 | ||||||||||||||||||||
| Avg price per ton - 3rd party | $ | 48.02 | $ | 50.04 | $ | 56.17 | $ | 57.17 | $ | 59.00 | $ | — | |||||||||||||||
| Contracted coal revenue - 3rd party (in millions) | $ | 31.69 | $ | 89.07 | $ | 84.26 | $ | 85.76 | $ | 29.50 | $ | — | $ | 320.28 | |||||||||||||
| Committed and unpriced tons - 3rd party (in millions) | — | 1 | 1 | 1 | — | — | 3 | ||||||||||||||||||||
| Total contracted tons - 3rd party (in millions) | 0.66 | 2.78 | 2.50 | 2.50 | 0.50 | — | 8.94 | ||||||||||||||||||||
| TOTAL CONTRACTED REVENUE (IN MILLIONS) - CONSOLIDATED | $ | 73.99 | $ | 238.63 | $ | 248.05 | $ | 234.43 | $ | 124.74 | $ | 17.33 | $ | 937.17 | |||||||||||||
| Priced tons - Merom (in millions) | 0.27 | 2.30 | 2.30 | 2.30 | 2.30 | — | 9.47 | ||||||||||||||||||||
| Avg price per ton - Merom | $ | 51.00 | $ | 51.00 | $ | 51.00 | $ | 51.00 | $ | 51.00 | $ | — | |||||||||||||||
| Contracted coal revenue - Merom (in millions) | $ | 13.77 | $ | 117.30 | $ | 117.30 | $ | 117.30 | $ | 117.30 | $ | — | $ | 482.97 | |||||||||||||
| TOTAL CONTRACTED REVENUE (IN MILLIONS) - SEGMENT | $ | 87.76 | $ | 355.93 | $ | 365.35 | $ | 351.73 | $ | 242.04 | $ | 17.33 | $ | 1,420.14 | |||||||||||||
Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Statements that are not strictly historical statements constitute forward-looking statements and may often, but not always, be identified by the use of such words such as "expects," "believes," "intends," "anticipates," "plans," "estimates," "guidance," "target," "potential," "possible," or "probable" or statements that certain actions, events or results "may," "will," "should," or "could" be taken, occur or be achieved. Forward-looking statements include, without limitation, those relating to our ability to execute definitive agreements with respect to the non-binding term sheet with a leading global data center developer. Forward-looking statements are based on current expectations and assumptions and analyses made by Hallador and its management in light of experience and perception of historical trends, current conditions and expected future developments, as well as other factors appropriate under the circumstances that involve various risks and uncertainties that could cause actual results to differ materially from those reflected in the statements. These risks include, but are not limited to, those set forth in Hallador’s annual report on Form 10‑K for the year ended December 31, 2023, and other Securities and Exchange Commission filings. Hallador undertakes no obligation to revise or update publicly any forward-looking statements except as required by law.
Conference Call and Webcast
Hallador management will host a conference call on Tuesday, November 12, 2024 at 5:00 p.m. Eastern time to discuss its financial and operational results, followed by a question-and-answer period.
Date: Tuesday, November 12, 2024
Time: 5:00 p.m. Eastern time
Dial-in registration link: here
Live webcast registration link: here
The conference call will also be broadcast live and available for replay in the investor relations section of the Company’s website at www.halladorenergy.com.
| Hallador Energy Company Condensed Consolidated Balance Sheets (in thousands, except per share data) (unaudited) | |||||||
| September 30, | December 31, | ||||||
| 2024 | 2023 | ||||||
| ASSETS | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 3,829 | $ | 2,842 | |||
| Restricted cash | 5,812 | 4,281 | |||||
| Accounts receivable | 11,908 | 19,937 | |||||
| Inventory | 31,077 | 23,075 | |||||
| Parts and supplies | 39,663 | 38,877 | |||||
| Prepaid expenses | 5,964 | 2,262 | |||||
| Assets held-for-sale | 1,544 | 1,611 | |||||
| Total current assets | 99,797 | 92,885 | |||||
| Property, plant and equipment: | |||||||
| Land and mineral rights | 115,486 | 115,486 | |||||
| Buildings and equipment | 529,818 | 537,131 | |||||
| Mine development | 167,077 | 158,642 | |||||
| Finance lease right-of-use assets | 19,869 | 12,346 | |||||
| Total property, plant and equipment | 832,250 | 823,605 | |||||
| Less - accumulated depreciation, depletion and amortization | (360,173 | ) | (334,971 | ) | |||
| Total property, plant and equipment, net | 472,077 | 488,634 | |||||
| Investment in Sunrise Energy | 2,071 | 2,811 | |||||
| Other assets | 5,785 | 5,450 | |||||
| Total assets | $ | 579,730 | $ | 589,780 | |||
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||
| Current liabilities: | |||||||
| Current portion of bank debt, net | $ | 24,095 | $ | 24,438 | |||
| Accounts payable and accrued liabilities | 42,915 | 62,908 | |||||
| Current portion of lease financing | 6,248 | 3,933 | |||||
| Deferred revenue | 57,293 | 23,062 | |||||
| Contract liability - power purchase agreement and capacity payment reduction | 41,049 | 43,254 | |||||
| Total current liabilities | 171,600 | 157,595 | |||||
| Long-term liabilities: | |||||||
| Bank debt, net | 42,918 | 63,453 | |||||
| Convertible notes payable | — | 10,000 | |||||
| Convertible notes payable - related party | — | 9,000 | |||||
| Long-term lease financing | 9,234 | 8,157 | |||||
| Deferred income taxes | 5,846 | 9,235 | |||||
| Asset retirement obligations | 15,746 | 14,538 | |||||
| Contract liability - power purchase agreement | 13,456 | 47,425 | |||||
| Other | 2,133 | 1,789 | |||||
| Total long-term liabilities | 89,333 | 163,597 | |||||
| Total liabilities | 260,933 | 321,192 | |||||
| Commitments and contingencies | |||||||
| Stockholders' equity: | |||||||
| Preferred stock, $.10 par value, 10,000 shares authorized; none issued | — | — | |||||
| Common stock, $.01 par value, 100,000 shares authorized; 42,599 and 34,052 issued and outstanding, as of September 30, 2024 and December 31, 2023, respectively | 426 | 341 | |||||
| Additional paid-in capital | 188,018 | 127,548 | |||||
| Retained earnings | 130,353 | 140,699 | |||||
| Total stockholders’ equity | 318,797 | 268,588 | |||||
| Total liabilities and stockholders’ equity | $ | 579,730 | $ | 589,780 | |||
| Hallador Energy Company Condensed Consolidated Statements of Operations (in thousands, except per share data) (unaudited) | |||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| SALES AND OPERATING REVENUES: | |||||||||||||||
| Electric sales | $ | 71,715 | $ | 67,403 | $ | 191,861 | $ | 230,812 | |||||||
| Coal sales | 31,662 | 97,420 | 114,093 | 280,596 | |||||||||||
| Other revenues | 1,667 | 945 | 4,221 | 3,888 | |||||||||||
| Total sales and operating revenues | 105,044 | 165,768 | 310,175 | 515,296 | |||||||||||
| EXPENSES: | |||||||||||||||
| Fuel | 13,176 | 11,345 | 31,674 | 99,959 | |||||||||||
| Other operating and maintenance costs | 33,320 | 65,551 | 106,714 | 139,979 | |||||||||||
| Cost of purchased power | 3,149 | — | 7,694 | — | |||||||||||
| Utilities | 3,185 | 4,507 | 10,955 | 13,347 | |||||||||||
| Labor | 26,721 | 37,639 | 88,444 | 114,698 | |||||||||||
| Depreciation, depletion and amortization | 13,838 | 16,230 | 42,930 | 51,375 | |||||||||||
| Asset retirement obligations accretion | 410 | 468 | 1,208 | 1,380 | |||||||||||
| Exploration costs | 62 | 171 | 179 | 682 | |||||||||||
| General and administrative | 6,471 | 6,054 | 20,218 | 18,596 | |||||||||||
| Total operating expenses | 100,332 | 141,965 | 310,016 | 440,016 | |||||||||||
| INCOME FROM OPERATIONS | 4,712 | 23,803 | 159 | 75,280 | |||||||||||
| Interest expense (1) | (2,692 | ) | (3,030 | ) | (10,364 | ) | (10,470 | ) | |||||||
| Loss on extinguishment of debt | — | (1,491 | ) | (2,790 | ) | (1,491 | ) | ||||||||
| Equity method investment (loss) | (234 | ) | (177 | ) | (740 | ) | (325 | ) | |||||||
| NET INCOME (LOSS) BEFORE INCOME TAXES | 1,786 | 19,105 | (13,735 | ) | 62,994 | ||||||||||
| INCOME TAX EXPENSE (BENEFIT): | |||||||||||||||
| Current | — | (178 | ) | — | 315 | ||||||||||
| Deferred | 232 | 3,208 | (3,389 | ) | 7,638 | ||||||||||
| Total income tax expense (benefit) | 232 | 3,030 | (3,389 | ) | 7,953 | ||||||||||
| NET INCOME (LOSS) | $ | 1,554 | $ | 16,075 | $ | (10,346 | ) | $ | 55,041 | ||||||
| NET INCOME (LOSS) PER SHARE: | |||||||||||||||
| Basic | $ | 0.04 | $ | 0.49 | $ | (0.27 | ) | $ | 1.66 | ||||||
| Diluted | $ | 0.04 | $ | 0.44 | $ | (0.27 | ) | $ | 1.52 | ||||||
| WEIGHTED AVERAGE SHARES OUTSTANDING | |||||||||||||||
| Basic | 42,598 | 33,140 | 38,455 | 33,088 | |||||||||||
| Diluted | 43,018 | 36,848 | 38,455 | 36,748 | |||||||||||
| Hallador Energy Company Condensed Consolidated Statements of Cash Flows (in thousands) (unaudited) | |||||||
| Nine Months Ended September 30, | |||||||
| 2024 | 2023 | ||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||
| Net income (loss) | $ | (10,346 | ) | $ | 55,041 | ||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||
| Deferred income tax (benefit) | (3,389 | ) | 7,638 | ||||
| Equity loss – Sunrise Energy | 740 | 325 | |||||
| Cash distribution - Sunrise Energy | - | 625 | |||||
| Depreciation, depletion, and amortization | 42,930 | 51,375 | |||||
| Loss on extinguishment of debt | 2,790 | 1,491 | |||||
| Loss (gain) on sale of assets | (536 | ) | 78 | ||||
| Amortization of debt issuance costs | 1,251 | 2,838 | |||||
| Asset retirement obligations accretion | 1,208 | 1,380 | |||||
| Cash paid on asset retirement obligation reclamation | (820 | ) | (2,286 | ) | |||
| Stock-based compensation | 3,320 | 2,774 | |||||
| Amortization of contract asset and contract liabilities | (36,174 | ) | (32,444 | ) | |||
| Other | 1,352 | 914 | |||||
| Change in operating assets and liabilities: | |||||||
| Accounts receivable | 8,029 | 9,197 | |||||
| Inventory | (8,002 | ) | 14,874 | ||||
| Parts and supplies | (786 | ) | (8,717 | ) | |||
| Prepaid expenses | (1,098 | ) | 1,116 | ||||
| Accounts payable and accrued liabilities | (7,715 | ) | (11,419 | ) | |||
| Deferred revenue | 34,231 | (15,273 | ) | ||||
| Net cash provided by operating activities | 26,985 | 79,527 | |||||
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||
| Capital expenditures | (39,606 | ) | (48,746 | ) | |||
| Proceeds from sale of equipment | 3,373 | 62 | |||||
| Net cash used in investing activities | (36,233 | ) | (48,684 | ) | |||
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||
| Payments on bank debt | (86,500 | ) | (56,463 | ) | |||
| Borrowings of bank debt | 65,000 | 33,000 | |||||
| Payments on lease financing | (4,105 | ) | — | ||||
| Proceeds from sale and leaseback arrangement | 3,783 | — | |||||
| Issuance of related party notes payable | 5,000 | — | |||||
| Payments on related party notes payable | (5,000 | ) | — | ||||
| Debt issuance costs | (654 | ) | (5,940 | ) | |||
| ATM offering | 34,515 | — | |||||
| Taxes paid on vesting of RSUs | (273 | ) | (1,150 | ) | |||
| Net cash provided by (used in) financing activities | 11,766 | (30,553 | ) | ||||
| Increase in cash, cash equivalents, and restricted cash | 2,518 | 290 | |||||
| Cash, cash equivalents, and restricted cash, beginning of period | 7,123 | 6,426 | |||||
| Cash, cash equivalents, and restricted cash, end of period | $ | 9,641 | $ | 6,716 | |||
| CASH, CASH EQUIVALENTS, AND RESTRICTED CASH: | |||||||
| Cash and cash equivalents | $ | 3,829 | $ | 2,573 | |||
| Restricted cash | 5,812 | 4,143 | |||||
| $ | 9,641 | $ | 6,716 | ||||
| SUPPLEMENTAL CASH FLOW INFORMATION: | |||||||
| Cash paid for interest | $ | 8,679 | $ | 8,069 | |||
| SUPPLEMENTAL NON-CASH FLOW INFORMATION: | |||||||
| Change in capital expenditures included in accounts payable and prepaid expense | $ | (7,825 | ) | $ | 3,214 | ||
| Stock issued on redemption of convertible notes and interest | $ | 22,993 | $ | — | |||
About Hallador Energy Company
Hallador Energy Company (Nasdaq: HNRG) is a vertically-integrated Independent Power Producer (IPP) based in Terre Haute, Indiana. The Company has two core businesses: Hallador Power Company, LLC, which produces electricity and capacity at its one Gigawatt (GW) Merom Generating Station, and Sunrise Coal, LLC, which produces and supplies fuel to the Merom Generating Station and other companies. To learn more about Hallador, visit the Company’s website at www.halladorenergy.com.
Company Contact
Marjorie Hargrave
Chief Financial Officer
(303) 917-0777
MHargrave@halladorenergy.com
Investor Relations Contact
Sean Mansouri, CFA
Elevate IR
(720) 330-2829
HNRG@elevate-ir.com...
Read the full news release here
