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Hallador Energy Company (HNRG)
NASDAQ:HNRG
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Hallador Energy Company
(NASDAQ:HNRG)
Rating:52Neutral
Price Target:
$16.50
▼(-5.12% Downside)
Hallador Energy Company (HNRG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$748.81M
Dividend YieldN/A
Average Volume (3M)783.46K
Price to Earnings (P/E)―
Beta (1Y)1.15
Revenue Growth-14.68%
EPS Growth-3155.06%
CountryUS
Employees615
SectorEnergy
Sector Strength55
IndustryCoal
Share Statistics
EPS (TTM)0.19
Shares Outstanding43,010,230
10 Day Avg. Volume484,315
30 Day Avg. Volume783,461
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap0.94
Enterprise Value/Revenue1.68
Enterprise Value/Gross Profit3.10
Enterprise Value/Ebitda-5.37
Forecast
1Y Price Target
$20.00Price Target Upside15.01% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
Hallador Energy Company Business Overview & Revenue Model
Company DescriptionHallador Energy Company, through its subsidiaries, engages in the production of steam coal in the State of Indiana for the electric power generation industry. The company owns the Oaktown Mine 1 and Oaktown Mine 2 underground mines in Oaktown, Indiana; and Ace in the Hole mine located near Clay City, Indiana. It is also involved in gas exploration activities in Indiana. Hallador Energy Company was founded in 1949 and is headquartered in Terre Haute, Indiana.
How the Company Makes MoneyHallador Energy generates revenue primarily through the sale of thermal coal to electric utility companies and industrial customers. The company enters into long-term contracts with its customers, which provide stable revenue streams and help mitigate market volatility. In addition to coal sales, Hallador may also earn revenue from coal-related services, such as transportation and logistics. The company's financial performance can be influenced by factors such as coal market prices, production costs, and demand for electricity, as well as regulatory conditions affecting the coal industry. Strategic partnerships with utilities and other energy producers also contribute to its earnings by securing long-term supply agreements.
Hallador Energy Company Earnings Call Summary
Earnings Call Date:Aug 11, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Nov 10, 2025
Earnings Call Sentiment Positive
The earnings call reflected a generally positive sentiment with a strong financial performance and strategic moves to enhance operational flexibility and secure long-term agreements, despite some seasonal and operational challenges.Q2-2025 Updates
Positive Updates
Positive Financial Performance
Year-over-year improvements in revenue, net income, and adjusted EBITDA, along with positive cash flow from operations. Net income for the second quarter was $8.2 million compared to a $10.2 million loss in the prior year period.
Strategic Prepaid Energy Sale
Executed a $35 million prepaid firm energy sale with delivery scheduled throughout 2025 and 2026, enhancing liquidity and operational flexibility.
Engagement with New Partners
Engaged with multiple potential partners for long-term power purchase agreements, including utilities showing more aggressive and compelling offers.
Operational Resilience
Improved cost efficiency and stronger recovery rates in coal operations, with planned maintenance strategically timed during low demand months.
Appointment of New CFO
Appointed Todd Telesz as CFO, bringing significant experience in power and utility sectors to support Hallador's growth plans.
Negative Updates
Seasonal Decline in Electric Sales
Electric sales for the second quarter were $60 million, down from $85.9 million in Q1, due to spring seasonality and a planned maintenance outage.
Decreased Operating Cash Flow
Operating cash flow for the second quarter was $11.4 million, down from $38.4 million in Q1, primarily due to lower pricing and a planned outage at Merom.
Increased Bank Debt
Total bank debt increased to $45 million at June 30, 2025, from $23 million at March 31, 2025.
Company Guidance
During Hallador Energy's second-quarter 2025 earnings call, the company provided guidance reflecting robust year-over-year improvements across key financial metrics, including revenue, net income, and adjusted EBITDA, while maintaining positive cash flow from operations. The call highlighted the company's strategic initiatives, such as executing a $35 million prepaid firm energy sale and making amendments to their credit agreement to enhance operating flexibility. Hallador also reported total operating revenue of $102.9 million, a net income of $8.2 million, and adjusted EBITDA of $3.4 million. Capital expenditures for the second quarter were $13 million, contributing to a year-to-date total of $24.7 million. The company's forward sales book stood at approximately $1.4 billion, comprising forward energy, capacity, and third-party fuel sales. The management remains focused on long-term agreements to drive shareholder value and is evaluating opportunities for dispatchable generation acquisitions and potential enhancements to their Merom Generating Station.Hallador Energy Company Financial Statement Overview
Summary
Hallador Energy Company shows significant revenue growth but struggles with profitability and cash flow management. The balance sheet indicates manageable leverage, yet negative return on equity highlights inefficiencies in generating shareholder value. Overall, the company needs to improve operational efficiency and profitability to enhance financial health.Income Statement
The income statement shows significant volatility. The TTM data indicates a substantial revenue growth of over 300%, but this is overshadowed by negative margins across the board, including a net profit margin of -46.68% and an EBIT margin of -44.96%. This suggests that despite revenue growth, the company is struggling with profitability and operational efficiency.45
Neutral
Balance Sheet
The balance sheet reflects a moderate debt-to-equity ratio of 0.14 in the TTM period, indicating manageable leverage. However, the return on equity is negative, suggesting that the company is not generating sufficient returns on shareholders' investments. The equity ratio is not provided, but the available data suggests a need for improved financial stability.55
Neutral
Cash Flow
Cash flow analysis reveals a mixed picture. The TTM period shows a decline in free cash flow growth by 31.83%, indicating cash generation challenges. However, the operating cash flow to net income ratio is positive, suggesting some operational cash flow strength. The free cash flow to net income ratio is also positive, but overall cash flow performance needs improvement.50
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 419.94M | 94.75M | 634.48M | 361.99M | 247.67M | 244.24M |
| Gross Profit | 226.96M | 49.37M | 161.09M | 48.51M | 48.83M | 58.28M |
| EBITDA | -131.28M | -154.44M | 131.98M | 79.63M | 45.31M | 45.57M |
| Net Income | -196.01M | -226.14M | 44.79M | 18.11M | -3.75M | -6.22M |
Balance Sheet | ||||||
| Total Assets | 409.51M | 369.12M | 589.78M | 630.55M | 353.98M | 384.13M |
| Cash, Cash Equivalents and Short-Term Investments | 9.23M | 7.23M | 2.84M | 3.01M | 2.55M | 8.04M |
| Total Debt | 17.14M | 57.81M | 119.69M | 101.74M | 107.77M | 141.62M |
| Total Liabilities | 287.36M | 264.83M | 321.19M | 415.53M | 167.75M | 194.87M |
| Stockholders Equity | 122.15M | 104.28M | 268.59M | 215.02M | 182.24M | 185.26M |
Cash Flow | ||||||
| Free Cash Flow | 25.77M | 12.57M | -15.94M | 149.00K | 19.92M | 31.89M |
| Operating Cash Flow | 75.83M | 65.93M | 59.41M | 54.17M | 47.97M | 52.58M |
| Investing Cash Flow | -45.80M | -46.47M | -75.29M | -53.37M | -27.52M | -18.19M |
| Financing Cash Flow | -8.39M | -14.43M | 16.57M | -207.00K | -26.69M | -35.63M |
Hallador Energy Company Technical Analysis
Positive
17.39
Price Trends
16.69
Positive
16.43
Positive
14.01
Positive
Market Momentum
<0.01
Negative
55.68
Neutral
79.76
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HNRG, the sentiment is Positive. The current price of 17.39 is above the 20-day moving average (MA) of 16.58, above the 50-day MA of 16.69, and above the 200-day MA of 14.01, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 55.68 is Neutral, neither overbought nor oversold. The STOCH value of 79.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HNRG.
Hallador Energy Company Peers Comparison
Overall Rating
UnderperformOutperform
Sector (65)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $1.33B | 9.52 | 28.59% | 4.16% | -20.92% | -26.59% | |
72 Outperform | $2.94B | 12.59 | 12.59% | 11.98% | -8.59% | -55.01% | |
67 Neutral | $1.59B | 43.10 | -5.55% | 1.87% | -12.79% | -134.14% | |
65 Neutral | $14.98B | 7.44 | 4.09% | 5.34% | 4.10% | -61.67% | |
64 Neutral | $3.19B | 78.87 | 1.95% | 0.55% | -27.62% | -90.48% | |
57 Neutral | $1.91B | 64.14 | -2.29% | 0.36% | -29.63% | -108.26% | |
52 Neutral | $748.81M | ― | -89.44% | ― | -14.68% | -3155.06% |
* Energy Sector Average
Performance Comparison
HNRG
Hallador Energy Company
17.39
11.27
184.15%
ARLP
Alliance Resource
22.54
1.65
7.90%
NRP
Natural Resource PRN
101.58
19.77
24.17%
AMR
Alpha Metallurgical Resources
138.72
-54.16
-28.08%
METC
Ramaco Resources
25.55
16.69
188.37%
HCC
Warrior Met Coal
58.29
6.53
12.62%
Hallador Energy Company Corporate Events
Executive/Board ChangesBusiness Operations and Strategy
Hallador Energy Appoints Todd Telesz as New CFO
Neutral
Jun 4, 2025
On June 4, 2025, Hallador Energy Company announced the appointment of Todd Telesz as Chief Financial Officer, effective June 23, 2025, succeeding Marjorie Hargrave. Hargrave, who joined Hallador in April 2024, played a key role in reducing costs and improving financial reporting efficiency. Telesz, with extensive experience in the power sector, is expected to advance Hallador’s strategy to acquire additional generation as energy cooperatives retire fossil-based generation portfolios, aiding the company’s transition from a coal producer to an independent power producer.
Executive/Board ChangesShareholder MeetingsBusiness Operations and Strategy
Hallador Energy Approves Key Proposals at Annual Meeting
Neutral
Jun 2, 2025
On May 29, 2025, Hallador Energy Company held its annual meeting in Lone Tree, Colorado, where shareholders approved several key proposals. The approval included the election of directors, an advisory vote on executive compensation, the ratification of independent auditors, and the Second Amended and Restated 2008 Restricted Stock Unit Plan. These decisions reflect the company’s strategic direction and governance priorities, potentially impacting its operational and financial strategies.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.