Hallador Energy Q1 2024 Earnings Report

Hallador Energy's financial performance reflected a net loss, progress in transitioning to an independent power producer, and strategic debt reduction.

Key Takeaways

Hallador Energy reported a net loss of $1.7 million for Q1 2024, with basic earnings per share of $(0.05). The company generated $16.4 million in operating cash flow and $6.8 million in adjusted EBITDA. A key highlight was the Electric Operation's revenue exceeding the Coal Operation's revenue, marking progress in the company's transition to an independent power producer.

Generated $16.4 million in operating cash flow, used to pay down bank debt by $14.5 million.

Bank debt was reduced to $77.0 million, increasing liquidity to $39.5 million and maintaining a leverage ratio of 1.58X.

Electric Operation's revenue exceeded Coal Operation's revenue for the first three months of 2024, highlighting the transition to an independent power producer.

Secured approximately $138.0 million in new long-term capacity and energy contracts since January 1, 2024.