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Mar 31
Hallador Energy Q1 2025 Earnings Report
Hallador Energy returned to top-line growth and posted strong earnings as it capitalized on higher electric sales and improved dispatch volumes.
Key Takeaways
Hallador Energy reported $117.8 million in revenue for Q1 2025, driven by a significant increase in electric sales. Net income reached $10 million and Adjusted EBITDA nearly tripled year-over-year, reflecting the company’s successful transition toward a vertically integrated IPP model.
Total revenue rose 6% YoY to $117.8 million, led by electric sales.
Net income improved to $10 million, from a loss of $1.7 million a year ago.
Adjusted EBITDA climbed to $19.3 million, nearly triple from Q1 2024.
Operating cash flow doubled YoY to $38.4 million, supporting debt repayment.
Hallador Energy
Hallador Energy
Hallador Energy Revenue by Segment
Revenue by Segment
Electric Sales Revenue
CapyFin.comCoal Sales Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
Hallador expects continued growth in its power generation business and remains focused on securing a strategic agreement with a major data center partner.
Positive Outlook
- Expects sustained momentum in electric sales.
- Contracted revenue backlog exceeds $1.4B through 2029.
- Significant debt reduction from $44M to $23M during the quarter.
- Potential long-term partnership with global data center developer.
- Robust liquidity of $69M at quarter-end.
Challenges Ahead
- Coal sales remain below prior-year levels.
- High capital expenditures at $11.7M.
- Negotiations with data center partner may extend beyond exclusivity.
- Cost of purchased power increased significantly YoY.
- Regulatory and market volatility remain a concern for long-term planning.