Hallador Energy Company
Company Summary
Financial Data:
NASDAQ:HNRG from Google FinanceTickers:
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HNRG - NASDAQ
Related Entities
Recent news
- 3/17/2023 - Hallador Energy Pays... (subscriber access)
- 3/17/2023 - Hallador Energy... (subscriber access)
- 7/8/2022 - Hallador Updates EBIDTA... (subscriber access)
- 2/16/2022 - Hallador Energy... (subscriber access)
- 8/10/2021 - Hallador Energy 2Q21... (subscriber access)
Company Transactions
Date: 7/15/2022
Type: Acquisition
BUYERS:
Hallador Energy Company
SELLERS:
Hoosier Energy R E C, Inc
ASSETS:
Merom
DETAILS:
VOLUMES: 1000 MW
NOTES:
Hallador Energy Company has signed a deal with Hoosier Energy to acquire the 1-GW Merom Generating Station in Indiana. The deal is set to close in mid-July 2022.
Hallador Energy Company has signed a deal with Hoosier Energy to acquire the 1-GW Merom Generating Station in Indiana. The deal is set to close in mid-July 2022.
REGIONS:
Midwest
News & Press Releases
Criterion News
- 3/17/2023 - Hallador Energy Pays... (subscriber access)
- 3/17/2023 - Hallador Energy... (subscriber access)
- 7/8/2022 - Hallador Updates EBIDTA... (subscriber access)
- 2/16/2022 - Hallador Energy... (subscriber access)
- 8/10/2021 - Hallador Energy 2Q21... (subscriber access)
- 1/21/2020 - Hallador Energy to Idle... (subscriber access)
- 11/9/2017 - Hallador Energy... (subscriber access)
- 3/23/2016 - Sunrise Coal Closes Purchase of 14 Million in Coal Sales from Triad Mining
Press Releases
- Net income was reduced $3.9 million by non-cash adjustments (interest rate swap and fuel hedge) in Q1.
- Impacts of delayed shipments and the permanent closure costs of the Carlisle Mine contributed to increased operating costs per ton of $2.43/ton over Q1 2019.
- Amended its credit facility to increase its allowable leverage ratios, providing $55.4 million in liquidity.
- Suspended its dividend until Debt to EBITDA leverage ratio falls below 2.0X.
- Received $10 million loan under the Paycheck Protection Program (PPP).
- Hallador plans to utilize the PPP funds to pay two months of payroll and other covered expenses. Under the terms of the CARES Act, the company expects a portion of the loan to be forgiven by maintaining current staffing levels through June 30, 2020.
- Due to the impacts and economic uncertainty of COVID-19, the Company is suspending sales guidance, but still carries a strong contracted sales position through 2022.
- Due to the impacts of the COVID-19 pandemic, Hallador is expecting lower sales of 6.5 million tons in 2020 versus prior guidance of 6.7 million tons. Additionally, the Company anticipates shipments being weighted towards the second half of the year.
- In anticipation of COVID-19 shipment delays and potential production interruptions, Hallador has:
- Amended its credit agreement to increase its allowable leverage ratios, providing approximately $50 million in liquidity.
- Suspended its quarterly dividend indefinitely.
- Received approval for a $10 million loan at a 1% interest rate under the Federal Paycheck Protection Program (PPP).
- Hallador plans to utilize PPP funds to pay two months of payroll and other covered expenses. Under the terms of the CARES Act, the Company expects at least 80% of the loan to be forgiven by maintaining current staffing levels through June 30, 2020.
- Hallador will file its Quarterly Report on Form 10-Q after the market closes on May 11, 2020.
- In response to the pandemic, Hallador's annual shareholder meeting will now be held at 11:00 a.m., August 13, 2020, in Terre Haute, IN.
- $16.7 MILLION IN ADJUSTED EBITDA FOR THE QUARTER, $68.7 MILLION IN ADJUSTED EBITDA FOR THE YEAR.
- STRONG SHIPMENTS IN Q4, PERMANENTLY CLOSING CARLISLE, SHARPENING CASH FLOW FOCUS
- 2.0 million tons of coal were shipped in the 4th quarter, a record 8.1 million tons sold in 2019.
- Forecasting 6.7 million tons of coal shipments going forward.
- 2020 = 100% contracted at 6.7 million ton pace.
- 2021 = 79% contracted at 6.7 million ton pace.
- Permanently closing the Carlisle Mine allowing Sunrise to:
- Concentrate production on our lower cost Oaktown Mines, returning cost structure to $28-$30/ton.
- Move $23 million in equipment and infrastructure to Oaktown, decreasing companywide capex to ~$20 million in 2020 and leading to capex reductions in future years.
- Generating $20 million in cash from lowering coal and parts inventories throughout 2020.
- NET LOSS OF $1.7 MILLION BEFORE THE EFFECTS OF IMPAIRMENTS
- Net Loss $59.9 million (after $77.9 million of Asset Impairments)
- As a result of permanently closing the Carlisle mine we recorded an impairment of $65.7 million. Additionally, we impaired the Bulldog reserve by $9.2 million and our Hourglass Sands project by $2.9 million. These three impairments totaled $77.9 million.
- STRONG SHIPMENTS IN Q3
- 2.1 million tons of coal were shipped in the 3rd quarter and we anticipate shipping 2.0 million tons in Q4. Thus, Sunrise Coal is on pace to ship a record 8 million tons in 2019. - Q3 2019 NET LOSS OF $3.7 MILLION, ($0.12) PER SHARE, CAUSED BY INCREASED COSTS DUE TO THREE TEMPORARY EVENTS
- First, Oaktown 2 experienced challenging mining conditions during the quarter, but was able to overcome and improve production by early October.
- Second, Carlisle has been working hard to reduce its cost structure since re-opening in July 2018. In October, units were relocated, and both production and recovery have improved dramatically. The Carlisle Mine experienced record production, up 40%, in the month of October.
- Lastly, at our Ace in the Hole Mine, a planned new box cut development in a new mining area led to low production in the quarter.
The confluence of these three temporary events increased our costs $3.86/ton during the quarter. We believe these events to be isolated to the 3rd quarter as we experienced record production in the month of October, thus we anticipate our cost structure returning to our historical sub $30/ton cost structure. - 75% SOLD THROUGH 2022 = GREAT CASH FLOW VISIBILITY
- When looking at the remainder of 2019 through 2022, 19.6 million tons are sold. Thus, we have ~75% of our sales contracted over the next three plus years at an 8.0 million-ton annualized pace.
- Our Sunrise coal subsidiary grew from 9 customers in 3 states in 2018 to a peak of 17 customers in 7 states in 2019. We continue to see opportunities to add customers in future years. - NEW CREDIT FACILITY IN PLACE FOR NEXT FOUR YEARS
- Once our banking partners reviewed our solid sales position, and could clearly see our future cash flows, they agreed to extend our credit facility to September 2023 and reduce our interest rate by 50 basis points. We have improved our low-cost capital structure at a time when others in the industry only have access to capital at exorbitant prices. - Q2 2019 NET LOSS OF $3.3 MILLION, ($0.11) PER SHARE
- The majority of loss was due to a $1.8 million non-cash adjustment in the fair market value of our interest rate swaps as a result of our quarterly mark to market. However, Hallador intends to hold its interest rate swaps long-term, negating much of the effects of quarterly fluctuations in valuation.
- Additionally, the seasonal nature of our contracts led to 2nd Quarter 2019 shipments being 15% less than 1st Quarter 2019. First half 2019 shipments were 49% of our 8 million-ton annualized target.
- These circumstances detract from a quarter that generated $16.4 million in adjusted EBITDA and a first half of 2019 that generated $41.7 million in adjusted EBITDA.
- 77% SOLD THROUGH 2022 = GREAT FREE CASH FLOW VISIBILITY
- When looking at the remainder of 2019 through 2022, 21.7 million tons are sold. Thus, we have ~77% of our sales contracted over the next three and a half years at an 8.0 million-ton annualized pace.
- The reason for our continued sales success is, throughout 2018 and 1st Quarter 2019, our Sunrise Coal subsidiary grew from 9 customers in 3 states to a peak of 17 customers in 8 states. This growth in customers has increased our sales volume from 6.6 million tons in 2017 to a projected 8.0 million tons in 2019.
- Q1 2019 NET INCOME UP 228% VS. Q1 2018
- $7.0 million, $0.23 per share for the quarter ended March 31, 2019.
- GROWING CUSTOMER BASE HAS LED TO 25% INCREASE IN COAL VOLUMES Q1 2019 VS. Q1 2018
- Throughout 2018 and 1st Quarter 2019, our Sunrise Coal subsidiary grew from 9 customers in 3 states to 17 customers in 8 states. This growth in customers has increased our sales volume from 6.6 million tons in 2017 to a projected 8.2 million tons in 2019.
- 2.1 million tons of coal sold in Q1 2019, up from 1.7 million tons in Q1 2018
- 79% SOLD FOR 4 YEARS = GREAT FREE CASH FLOW VISABILITY
- Sunrise coal continued to make sales during the quarter. When looking at 2019 through 2022, 25.3 million tons are sold. Thus, ~79% of our sales are contracted over the next four years at our new ~8.0 million-ton annualized pace.
- THE STATE OF INDIANA HAS CHOSEN COAL
- On April 24, 2019, the Indiana Utility Regulatory Commission (IURC) approved an Indiana utility's request to upgrade environmental controls at a power plant we serve. Additionally, the IURC denied the same utility's request to close three coal units we serve and replace them with new combined cycle gas facilities.
- We believe, the IURC's decision is a material statement demonstrating that existing coal plants are lower cost than new natural gas plants in Indiana.
- Furthermore, out of concern for the trend of increasing electricity rates, the Indiana legislature created a committee to study Indiana's energy policy and release their findings by December 2020.
- HALLADOR TO RELOCATE CORPORATE HEADQUARTERS
- Effective June 1, 2019, Hallador will relocate corporate headquarters from Denver, Colorado to Terre Haute, Indiana, where the majority of the assets are currently managed.
- Net Income
- $7.6 million, $0.25 per share for the year ended December 31, 2018.
- Coal Sales
- Contracted 12.0 million tons of additional coal sales during the year for the 2019-2022 time period.
- Dramatically increased the number of power plants served as a result of three fundamental changes in our market:
- A large Indiana industrial customer chose to close their coal mines and purchase coal from Sunrise under long-term contracts.
- The addition of our new Princeton Loop has allowed us to access new markets served by the Norfolk and Southern Railroad (NS).
- A greater percentage of Illinois Basin (ILB) coal is going to export, thus tightening supply. This has led to new customers contracting with Sunrise for the first time.
- Production
- Reopened the Carlisle Mine, returning Sunrise's production capacity to 10.5 million tons annually.
- Produced 7.6 million tons of coal in 2018, up from 6.6 million tons in 2017.
- Anticipating over 8.0 million tons of production annually for the next 4 years.
- Net loss of $23,000, $0.00 per share for the second quarter of 2018.
- Net income of $2.1 million, $0.07 per share for the first six months of 2018
- Coal inventory was increased by $21.6 million (770,000 tons) since December 31, 2017 in preparation of contracted shipments (3.8MM tons) in the second half of 2018.
- 2018 annualized sales forecast increased to 7.0MM tons from 6.8MM from December 31, 2017 guidance.
- The Carlisle Mine was reopened July 9, 2018 to assist with sales in the second half of the year.
- The new Princeton Rail Loop became fully operational during the quarter and is expected to ship 625,000 tons during the last six months of 2018.
- A new 4-year bank credit facility was completed on May 21, 2018 for $267 million, including $147 million term loan and $120 million revolver, increasing our liquidity by $6 million.
- Hourglass Sands began producing raw sand in the second quarter of 2018 and is expected to begin shipping frac sand to customers in the DJ Basin in the fourth quarter of 2018.
- Net income was $2.1 million, $0.07 per share for Q1 2018.
- Operating cash flow was $13.2 million.
- Bank debt was reduced by $11 million to $191 million in Q1 2018.
- Leverage was reduced to 2.37X.
- The Princeton Rail Loop loaded its first unit train in May 2018 and continues to attract new sales opportunities.
- Sales forecast increased from 6.8 to 7.0 million tons for 2018.
- Hourglass Sands made significant progress and anticipates shipping sand to customers in the DJ Basin in Q3 2018. We believe Hourglass to be the only frac sand mining company in the State of Colorado.
- Total revenues were $74.5 million in the 2017 Quarter compared to $65.8 million for the quarter ended September 30, 2016.
- Revenue increased 13% year over year for the quarter due to increased sales volumes despite expected lower average price per ton.
- Bank debt was reduced to $211 million in the quarter, a reduction of $14.8 million.
- Reducing the Debt to EBITDA covenant to 2.42X.
- Net income was $3.9 million, $.13 per share for the quarter.
- Adjusted EBITDA for the 3rd quarter was $21.2 million.
- Defined as EBITDA plus stock-based compensation plus ARO accretion.
- Cash from operating activities was $23.9 million for the quarter.
- Adjusted free cash flow was $15.3 million for the quarter.
- Defined as net income plus deferred income taxes, DD&A, ARO accretion, and stock compensation, less maintenance capex.
- Sunrise Coal, LLC, a wholly owned subsidiary of Hallador Energy (HNRG), announces construction of the Princeton Loop, a truck to rail coal loading facility that will be located 6 miles west of Princeton, Indiana, on Highway 64. The facility will include the ability to unload trucks, blend coals, load 135 car unit trains in four hours and store over 4 million tons of coal. The new facility will primarily serve utility coal plants served by Norfolk Southern Railway Company once the rail facility is completed in the spring of 2018. Hallador's President and CEO, Brent Bilsland, stated "We are excited about the development of the Princeton Loop as it enables Sunrise's low cost production to access substantial new markets and better serve our customers."
- Revenue increased 41% year over year to a record $340.1 million, driven by record tons sold of 7.4 million due to the August 2014 acquisition of the Oaktown mines.
- Bank debt was reduced by $56.9 million, to a total of $250 million.
- Net income was $20.1 million, $.68 per share.
- Adjusted EBITDA was $90.8 million.
- Defined as EBITDA plus stock-based compensation.
- Cash from operating activities was $94.7 million.
- Adjusted free cash flow was $44 million.
- Defined as pre-tax income, plus DD&A, plus stock-based compensation, less capex.
Hallador Energy Company Reports First Quarter 2020 Financial And Operating Results
Source: PR Newswire
TERRE HAUTE, Ind., May 11, 2020 /PRNewswire/ -- Hallador Energy Company (NASDAQ – HNRG) today reported a net loss of $3.7 Million, ($0.12) Per Share.
Brent Bilsland, President and Chief Executive Officer, stated, "Thermal export prices collapsed in the 2nd half of 2019, pressuring domestic steam coal pricing. Natural gas prices marked their lowest levels in 21 years during Q1 2020. Additionally, most of the United States and developed world closed and sheltered in place for 8-10 weeks during part of the 1st and 2nd quarter. The culmination of these extreme events led us to take proactive steps to plan for the future of Hallador's customers, investors and employees. Our actions are designed to increase our financial abilities so that we can ensure consistency at a time when the world is experiencing great volatility."
In anticipation of shipment delays and potential production interruptions, Hallador has:
Solid Sales Position Through 2022
Contracted | Estimated | |||||
Tons | Priced | |||||
Year | (millions)* | per ton | ||||
2020 (Q2 – Q4) | 5.0 | $ 40.25 | ||||
2021 | 5.1 | $ 39.65 | ||||
2022 | 5.3 | $ 40.25 | ||||
15.4 |
* Contracted tons are subject to adjustment due to the exercise of customer options to either take additional tons or reduce tonnage if such options exist in the customer contract. | ||||
The table below represents some of our critical metrics (in thousands except for per ton data):
Quarter Ended | ||||||
March 31, | ||||||
2020 | 2019 | |||||
Net Income (loss) | $ | (3,660) | $ | 7,000 | ||
Total Revenues | $ | 62,538 | $ | 89,313 | ||
Tons Sold | 1,526 | 2,130 | ||||
Average Price per Ton | $ | 40.58 | $ | 40.02 | ||
Bank Debt | $ | 168,050 | $ | 168,450 | ||
Operating Cash Flow | $ | 16,256 | $ | 20,847 | ||
Adjusted EBITDA* | $ | 13,899 | $ | 25,235 | ||
Adjusted Free Cash Flow ** | $ | 6,813 | $ | 14,652 | ||
*Defined as EBITDA plus stock-based compensation, ARO accretion, change in fair value of fuel hedges, less the effects of our equity method investments and Hourglass Sands. | |||||||
**Defined as net income plus deferred income taxes, DD&A, ARO accretion, change in fair value of fuel hedges, and stock compensation, less maintenance capex and the effects of our equity method investments. | |||||||
EBITDA, adjusted EBITDA, and adjusted free cash flow should not be considered alternatives 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 EBITDA, adjusted EBITDA, and adjusted free cash flow may not be the same method used to compute similar measures reported by other companies.
Management believes that the presentation of such additional financial measures provides useful information to investors regarding our performance and results of operations because these measures, when used in conjunction with related GAAP financial measures, (i) provide additional information about our core operating performance and ability to generate and distribute cash flow, (ii) provide investors with the financial and analytical framework upon which management bases financial, operation, compensation, and planning decisions, and (iii) present measurements that investors, rating agencies, and debt holders have indicated are useful in assessing our results.
Reconciliation of GAAP "net income" to non-GAAP "adjusted EBITDA" (in thousands).
Quarter Ended | |||||||
March 31, | |||||||
2020 | 2019 | ||||||
Net income (loss) | $ | (3,660) | $ | 7,000 | |||
Income tax benefit | (2,176) | (36) | |||||
Loss from Hourglass Sands | 78 | 251 | |||||
(Income) loss from equity method investments | (55) | 34 | |||||
DD&A | 10,623 | 11,732 | |||||
ARO accretion | 333 | 309 | |||||
Loss (gain) on marketable securities | (14) | (303) | |||||
Interest Expense | 5,714 | 4,619 | |||||
Other amortization | 1,426 | 1,135 | |||||
Change in fair value of fuel hedges | 1,311 | - | |||||
Stock-based compensation | 319 | 494 | |||||
Adjusted EBITDA | $ | 13,899 | $ | 25,235 | |||
Reconciliation of GAAP "net income" to non-GAAP "adjusted free cash flow" (in thousands).
Quarter Ended | ||||||
March 31, | ||||||
2020 | 2019 | |||||
Net income (loss) | $ | (3,660) | $ | 7,000 | ||
(Income) loss from equity method investments | (55) | 34 | ||||
Deferred income tax benefit | (1,652) | 193 | ||||
DD&A | 10,627 | 11,738 | ||||
ARO accretion | 333 | 309 | ||||
Deferred financing costs amortization | 467 | 543 | ||||
Change in fair value of interest rate swaps | 2,593 | 1,013 | ||||
Change in fair value of fuel hedges | 1,311 | - | ||||
Maintenance capex | (3,470) | (6,672) | ||||
Stock-based compensation less taxes paid | 319 | 494 | ||||
Adjusted Free Cash Flow | $ | 6,813 | $ | 14,652 | ||
Conference Call
As previously announced our earnings conference call for financial analysts and investors will be held on Tuesday, May 12, 2020, at 2:00 pm eastern time. Dial-in numbers for the live conference call are as follows:
Toll-free (888) 347-5317
Canadian Callers Toll-free (855) 669-9657
Conference ID #: Hallador Energy Company HNRG Call
An audio replay of the conference call will be available for one week. To access the audio replay, dial US Toll-Free (877) 344-7529; Canada Toll-Free (855) 669-9658 and request to be connected to replay access code 10138493.
Hallador is headquartered in Terre Haute, Indiana and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador or Sunrise, visit our website at www.halladorenergy.com.
View original content to download multimedia:http://www.prnewswire.com/news-releases/hallador-energy-company-reports-first-quarter-2020-financial-and-operating-results-301057064.html
SOURCE Hallador Energy Company
Article Date
5/11/2020Hallador Energy Company Announces 1st Quarter 2020 Earnings Call
Source: PR Newswire
DENVER, May 7, 2020 /PRNewswire/ -- (Nasdaq: HNRG) – Hallador Energy has scheduled an investor call to discuss its first quarter 2020 earnings on Tuesday, May 12, 2020 at 2:00 p.m. Eastern Time.
The call will be webcast live on our website at www.halladorenergy.com under "Webcasts" and available for a limited time.
To participate in the conference call, please dial:
Domestic Callers Toll-free (888) 347-5317
Canadian Callers Toll-free (855) 669-9657
Conference ID #: Hallador Energy Company HNRG call
Conference replay through May 19, 2020.
Domestic Callers Toll-free (877) 344-7529
Canadian Callers Toll-free (855) 669-9658
Replay Access Code: 10138493
As previously announced, the first quarter 2020 Form 10-Q will be filed after the markets close on Monday, May 11, 2020, and will be available on our website at www.halladorenergy.com under "SEC Filings" on the Financial Information tab.
Hallador is headquartered in Terre Haute, Indiana, and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador, visit our website at www.halladorenergy.com.
View original content to download multimedia:http://www.prnewswire.com/news-releases/hallador-energy-company-announces-1st-quarter-2020-earnings-call-301055349.html
SOURCE Hallador Energy Company
Article Date
5/7/2020Hallador Energy Announces Actions To Improve Liquidity Amid COVID-19
Source: PR Newswire
TERRE HAUTE, Ind., April 15, 2020 /PRNewswire/ -- Hallador Energy Company (Nasdaq: HNRG) today announced several actions to improve liquidity amid the growing effects of COVID-19.
Brent Bilsland, President and Chief Executive Officer, commented, "During these unprecedented times, we are taking proactive steps to plan for the future of Hallador Energy Company's customers, employees, and investors. Our actions are designed to increase our financial abilities so that we can ensure consistency at a time when the world is experiencing great volatility."
Hallador is headquartered in Terre Haute, Indiana, and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador or Sunrise, visit our website at www.halladorenergy.com.
View original content to download multimedia:http://www.prnewswire.com/news-releases/hallador-energy-announces-actions-to-improve-liquidity-amid-covid-19-301041490.html
SOURCE Hallador Energy Company
Article Date
4/15/2020Hallador Energy Reports 2019 Annual Financial And Operating Results
Source: PR Newswire
TERRE HAUTE, Ind., March 9, 2020 /PRNewswire/ -- Hallador Energy Company (Nasdaq: HNRG) reports financial and operating results for the year ended December 31, 2019. Hallador filed its Form 10-K after the markets closed today.
Brent Bilsland, President and Chief Executive Officer, commented, "After experiencing negative free cash flow at Carlisle over the past 18 months, we have decided to permanently close Carlisle which will further reduce our overall cost structure, maximize per ton margins and, reduce current and future capex by utilizing Carlisle equipment and parts at Oaktown. As we reduce coal and parts inventories, we will generate significant cash to be utilized for debt reduction."
The table below represents some of our critical metrics (in thousands except for per ton data):
Year Ended | |||||||
December 31, | |||||||
2019 | 2018 | ||||||
Net Income (loss) | $ | (59,854) | $ | 7,621 | |||
Total Revenues | $ | 323,462 | $ | 293,557 | |||
Tons Sold | 8,070 | 7,365 | |||||
Average Price per Ton | $ | 39.34 | $ | 39.62 | |||
Bank Debt | $ | 180,150 | $ | 188,463 | |||
Operating Cash Flow | $ | 38,243 | $ | 51,570 | |||
Adjusted EBITDA* | $ | 68,761 | $ | 74,085 | |||
Adjusted Free Cash Flow ** | $ | 29,755 | $ | 35,839 | |||
*Defined as EBITDA plus stock-based compensation and ARO accretion, less the effects of our equity method investments and Hourglass Sands. | |||||||
**Defined as net income plus deferred income taxes, DD&A, ARO accretion, and stock compensation, less maintenance capex and the effects of our equity method investments. | |||||||
EBITDA, adjusted EBITDA, and adjusted free cash flow should not be considered alternatives 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 EBITDA, adjusted EBITDA, and adjusted free cash flow may not be the same method used to compute similar measures reported by other companies.
Management believes that the presentation of such additional financial measures provides useful information to investors regarding our performance and results of operations because these measures, when used in conjunction with related GAAP financial measures, (i) provide additional information about our core operating performance and ability to generate and distribute cash flow, (ii) provide investors with the financial and analytical framework upon which management bases financial, operation, compensation, and planning decisions, and (iii) present measurements that investors, rating agencies, and debt holders have indicated are useful in assessing our results.
Reconciliation of GAAP "net income" to non-GAAP "adjusted EBITDA" (in thousands).
Year Ended | |||||||
December 31, | |||||||
2019 | 2018 | ||||||
Net income (loss) | $ | (59,854) | $ | 7,621 | |||
Income tax benefit | (22,347) | (4,075) | |||||
Loss from Hourglass Sands | 540 | 1,169 | |||||
Loss from equity method investments | 527 | 187 | |||||
DD&A | 48,554 | 44,157 | |||||
ARO accretion | 1,272 | 1,167 | |||||
Loss on impairment & disposal of assets | 77,792 | 561 | |||||
Loss (gain) on marketable securities | (593) | 226 | |||||
Interest Expense | 15,998 | 16,288 | |||||
Other amortization | 5,039 | 3,614 | |||||
Stock-based compensation | 1,833 | 3,170 | |||||
Adjusted EBITDA | $ | 68,761 | $ | 74,085 | |||
Reconciliation of GAAP "net income" to non-GAAP "adjusted free cash flow" (in thousands).
Year Ended | ||||||
December 31, | ||||||
2019 | 2018 | |||||
Net income (loss) | $ | (59,854) | $ | 7,621 | ||
Loss from equity method investments | 527 | 187 | ||||
Deferred income tax benefit | (21,822) | (2,287) | ||||
DD&A | 48,572 | 44,167 | ||||
ARO accretion | 1,272 | 1,167 | ||||
Deferred financing costs amortization | 2,095 | 2,024 | ||||
Change in fair value of interest rate swaps | 2,186 | 2,182 | ||||
Loss on impairment & disposal of assets | 77,792 | 561 | ||||
Maintenance capex | (22,488) | (22,655) | ||||
Stock-based compensation less taxes paid | 1,475 | 2,872 | ||||
Adjusted Free Cash Flow | $ | 29,755 | $ | 35,839 | ||
Conference Call
As previously announced our earnings conference call for financial analysts and investors will be held on Tuesday, March 10, 2020, at 2:00 pm eastern time. Dial-in numbers for the live conference call are as follows:
Toll-free (888) 347-5317
Canadian Callers Toll-free (855) 669-9657
Conference ID #: Hallador Energy Company HNRG Call
An audio replay of the conference call will be available for one week. To access the audio replay, dial US Toll-Free (877) 344-7529; Canada Toll-Free (855) 669-9658 and request to be connected to replay access code 10138491.
Hallador is headquartered in Terre Haute, Indiana and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador or Sunrise, visit our website at www.halladorenergy.com.
View original content to download multimedia:http://www.prnewswire.com/news-releases/hallador-energy-reports-2019-annual-financial-and-operating-results-301020149.html
SOURCE Hallador Energy Company
Article Date
3/9/2020Hallador Energy to Idle Carlisle Mine in Sullivan Co., Indiana
Source: PR Newswire
TERRE HAUTE, Ind., Jan. 20, 2020 /PRNewswire/ -- Hallador Energy Company (Nasdaq: HNRG) announced today that its wholly owned subsidiary Sunrise Coal, LLC, is temporarily idling production at its Carlisle Mine in Sullivan County, Indiana, resulting in an immediate reduction in force of 90 full-time employees.
"Unfortunately, weak market conditions have resulted in an over-supply of domestic coal, which necessitates that we reduce our production," said Larry D. Martin, Chief Financial Officer of Hallador Energy Company. "The employees who are affected by this action are a part of the Sunrise family, and we regret the impact this will have on their families and the community. We thank them for their dedication and service."
As a result of today's announcement, Hallador will be shifting production to its lower cost operations at Oaktown, Indiana, and reducing its sales guidance to 7.0 million tons for 2020.
The company is assessing if it has incurred any impairment on its Carlisle Mine, and if so, this amount will be reported on its Form 10-K in early March.
About Hallador Energy Company
Hallador is headquartered in Terre Haute, Indiana and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador, visit our website at www.halladorenergy.com.
View original content to download multimedia:http://www.prnewswire.com/news-releases/hallador-energy-to-idle-carlisle-mine-in-sullivan-co-indiana-300989438.html
SOURCE Sunrise Coal, LLC; Hallador Energy Company
Article Date
1/20/20201/16/2020 - Hallador Energy Declares Quarterly Dividend and Announces 4th Quarter and Full Year 2019 Earnings Call
Hallador Energy Declares Quarterly Dividend and Announces 4th Quarter and Full Year 2019 Earnings Call
Source: PR Newswire
TERRE HAUTE, Ind., Jan. 16, 2020 /PRNewswire/ -- (Nasdaq: HNRG) – Hallador Energy Company today announced that its Board of Directors has declared a cash dividend for the first quarter 2020 of $.04 per share on the company's common stock. The dividend is payable on Friday, February 14, 2020, to shareholders of record as of Friday, January 31, 2020.
Hallador plans to release its 4th quarter and full year 2019 financial results on Form 10-K after the markets close on Monday, March 9, 2020.
Management will discuss these results during an investor call on Tuesday, March 10, 2020, at 2:00 p.m. Eastern Time.
The call will be webcast live on our website at www.halladorenergy.com under Webcasts and available for a limited time.
To participate in the conference call, please dial:
Domestic Callers Toll-free (888) 347-5317
Canadian Callers Toll-free (855) 669-9657
Conference ID #: Hallador Energy Company HNRG call
Conference replay through Tuesday, March 17, 2020
Domestic Callers Toll-free (877) 344-7529
Canadian Callers Toll-free (855) 669-9658
Replay Access Code: 10138491
Hallador is headquartered in Terre Haute, Indiana and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador, visit our website at www.halladorenergy.com.
View original content to download multimedia:http://www.prnewswire.com/news-releases/hallador-energy-declares-quarterly-dividend-and-announces-4th-quarter-and-full-year-2019-earnings-call-300988594.html
SOURCE Hallador Energy Company
Article Date
1/16/2020Hallador Energy Reports 2019 3rd Quarter Financial And Operating Results
Source: PR Newswire
TERRE HAUTE, Ind., Nov. 4, 2019 /PRNewswire/ -- Hallador Energy Company (Nasdaq: HNRG) reports financial and operating results for the quarter ended September 30, 2019. Hallador filed its Form 10-Q after the markets closed today.
Brent Bilsland, President and Chief Executive Officer, commented, "I am pleased that we are still on pace for record shipments for the year and that we experienced record production in October ending the higher cost issues that plagued us in the third quarter. We are entering our sales season in a position of strength with 75% sold for the next 3 years."
The table below represents some of our critical metrics (in thousands except for per ton data):
Nine Months Ended | Three Months Ended | ||||||||||
2019 | 2018 | 2019 | 2018 | ||||||||
Net Income (loss) | $ | (67) | $ | 5,023 | (3,723) | $ | 2,914 | ||||
Total Revenues | $ | 244,719 | $ | 203,829 | 83,096 | $ | 79,722 | ||||
Tons Sold | 6,055 | 5,146 | 2,118 | 1,962 | |||||||
Average Price per Ton | $ | 39.51 | $ | 39.40 | 39.13 | $ | 40.29 | ||||
Bank Debt | $ | 172,000 | $ | 199,975 | 172,000 | $ | 199,975 | ||||
Operating Cash Flow | $ | 36,323 | $ | 30,295 | 12,612 | $ | 14,419 | ||||
Adjusted EBITDA* | $ | 52,109 | $ | 55,363 | 10,451 | $ | 18,239 | ||||
Adjusted Free Cash Flow ** | $ | 21,695 | $ | 28,200 | 1,100 | $ | 9,267 | ||||
*Defined as EBITDA plus stock-based compensation and ARO accretion, less the effects of our equity method investments and Hourglass Sands. | |||||||||||
**Defined as net income plus deferred income taxes, DD&A, ARO accretion, and stock compensation, less maintenance capex and the effects of our equity method investments. | |||||||||||
EBITDA, adjusted EBITDA, and adjusted free cash flow should not be considered alternatives 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 EBITDA, adjusted EBITDA, and adjusted free cash flow may not be the same method used to compute similar measures reported by other companies.
Management believes that the presentation of such additional financial measures provides useful information to investors regarding our performance and results of operations because these measures, when used in conjunction with related GAAP financial measures, (i) provide additional information about our core operating performance and ability to generate and distribute cash flow, (ii) provide investors with the financial and analytical framework upon which management bases financial, operation, compensation, and planning decisions, and (iii) present measurements that investors, rating agencies, and debt holders have indicated are useful in assessing our results.
Reconciliation of GAAP "net income" to non-GAAP "adjusted EBITDA" (in thousands).
Nine Months Ended | Three Months Ended | |||||||||||
2019 | 2018 | 2019 | 2018 | |||||||||
Net income (loss) | $ | (67) | $ | 5,023 | $ | (3,723) | $ | 2,914 | ||||
Income tax benefit | (3,318) | (546) | (3,473) | (589) | ||||||||
Loss from Hourglass Sands | 438 | 871 | 47 | 314 | ||||||||
Loss from equity method investments | 350 | 198 | 184 | 42 | ||||||||
DD&A | 35,598 | 32,759 | 11,774 | 10,810 | ||||||||
ARO accretion | 943 | 866 | 320 | 293 | ||||||||
Loss (gain) on impairment & disposal of assets | (99) | 576 | 1 | 4 | ||||||||
Loss (gain) on marketable securities | (334) | 60 | 14 | (134) | ||||||||
Interest Expense | 13,546 | 10,284 | 3,558 | 3,261 | ||||||||
Other amortization | 3,614 | 2,517 | 1,323 | 935 | ||||||||
Stock-based compensation | 1,438 | 2,755 | 426 | 389 | ||||||||
Adjusted EBITDA | $ | 52,109 | $ | 55,363 | $ | 10,451 | $ | 18,239 | ||||
Reconciliation of GAAP "net income" to non-GAAP "adjusted free cash flow" (in thousands).
Nine Months Ended | Three Months Ended | |||||||||||
2019 | 2018 | 2019 | 2018 | |||||||||
Net income (loss) | $ | (67) | $ | 5,023 | $ | (3,723) | $ | 2,914 | ||||
Loss from equity method investments | 350 | 198 | 184 | 42 | ||||||||
Deferred income tax benefit | (2,741) | (120) | (3,047) | (385) | ||||||||
DD&A | 35,612 | 32,764 | 11,778 | 10,815 | ||||||||
ARO accretion | 943 | 866 | 320 | 293 | ||||||||
Deferred financing costs amortization | 1,628 | 1,482 | 543 | 542 | ||||||||
Change in fair value of interest rate swaps | 3,018 | 136 | 162 | (708) | ||||||||
Loss (gain) on impairment & disposal of assets | (99) | 576 | 1 | 4 | ||||||||
Maintenance capex | (18,373) | (15,469) | (5,537) | (4,639) | ||||||||
Stock-based compensation less taxes paid | 1,424 | 2,744 | 419 | 389 | ||||||||
Adjusted Free Cash Flow | $ | 21,695 | $ | 28,200 | $ | 1,100 | $ | 9,267 | ||||
Conference Call
As previously announced our earnings conference call for financial analysts and investors will be held on Tuesday, November 5, 2019, at 2:00 pm eastern time. Dial-in numbers for the live conference call are as follows:
Toll-free (888) 347-5317
Canadian Callers Toll-free (855) 669-9657
Conference ID #: Hallador Energy Company HNRG Call
An audio replay of the conference call will be available for one week. To access the audio replay, dial US Toll-Free (877) 344-7529; Canada Toll-Free (855) 669-9658 and request to be connected to replay access code 10130751.
Hallador is headquartered in Terre Haute, Indiana and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador or Sunrise, visit our website at www.halladorenergy.com.
View original content to download multimedia:http://www.prnewswire.com/news-releases/hallador-energy-reports-2019-3rd-quarter-financial-and-operating-results-300951172.html
SOURCE Hallador Energy Company
Article Date
11/4/201910/15/2019 - Hallador Energy Company Declares Quarterly Dividend and Third Quarter 2019 Earnings Call
Hallador Energy Company Declares Quarterly Dividend and Third Quarter 2019 Earnings Call
Source: PR Newswire
DENVER, Oct. 15, 2019 /PRNewswire/ -- (Nasdaq: HNRG) – The board of directors of Hallador Energy Company today declared a regular quarterly dividend of $.04 per share. The dividend is payable on Friday, November 15, 2019, to shareholders of record as of Thursday, October 31, 2019.
Hallador plans to release its third quarter 2019 financial results on Form 10-Q after the markets close on Monday, November 4, 2019. Management will discuss these results during an investor call on Tuesday, November 5, 2019, at 2:00 p.m. Eastern Time.
The call will be webcast live on our website at www.halladorenergy.com under Webcasts and available for a limited time.
To participate in the conference call, please dial:
Domestic Callers Toll-free (888) 347-5317
Canadian Callers Toll-free (855) 669-9657
Conference ID #: Hallador Energy Company HNRG call
Conference replay through Tuesday, November 12, 2019
Domestic Callers Toll-free (877) 344-7529
Canadian Callers Toll-free (855) 669-9658
Replay Access Code: 10130751
The Form 10-Q will be available on our website at www.halladorenergy.com under "SEC Filings" on the Financial Information tab.
Hallador is headquartered in Terre Haute, Indiana, and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador, visit our website at www.halladorenergy.com.
View original content to download multimedia:http://www.prnewswire.com/news-releases/hallador-energy-company-declares-quarterly-dividend-and-third-quarter-2019-earnings-call-300939179.html
SOURCE Hallador Energy Company
Article Date
10/15/201910/2/2019 - Hallador Energy Extends Term And Lowers Interest Rate On 4-Year, $238 Million Credit Facility
Hallador Energy Extends Term And Lowers Interest Rate On 4-Year, $238 Million Credit Facility
Source: PR Newswire
TERRE HAUTE, Ind., Oct. 2, 2019 /PRNewswire/ -- Hallador Energy Company (Nasdaq: HNRG) closed on a credit facility amendment with its administrative agent, PNC Bank. The amendment resets the existing credit facility's maturity to four years (a 16-month extension), expiring in September 2023. Additionally, interest associated with the facility was reduced by .50%, taking us to LIBOR plus 3.00% in our current pricing grid. The $238 million credit facility (of which $172 million is currently outstanding) is comprised of a $118 million term loan and $120 million revolver.
Brent Bilsland, President, CEO & Chairman of Hallador Energy Company, commented, "Our bank group's willingness to improve the terms of our credit facility that was originally agreed to only 17 months ago, speaks to the strength of Hallador's contracted sales position. Hallador remains 77% contracted through 2022, affording our bank group and investors excellent cash flow visibility. We thank our bank group for their unanimous support of this extension and rate reduction."
Hallador is headquartered in Terre Haute, Indiana and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador or Sunrise, visit our website at www.halladorenergy.com.
View original content to download multimedia:http://www.prnewswire.com/news-releases/hallador-energy-extends-term-and-lowers-interest-rate-on-4-year-238-million-credit-facility-300930150.html
SOURCE Hallador Energy Company
Article Date
10/2/2019Hallador Energy Reports 2019 2nd Quarter Financial And Operating Results
Source: PR Newswire
TERRE HAUTE, Ind., Aug. 5, 2019 /PRNewswire/ -- Hallador Energy Company (Nasdaq: HNRG) reports financial and operating results for the quarter ended June 30, 2019. Hallador filed its Form 10-Q after the markets closed today.
Brent Bilsland, President and Chief Executive Officer, commented, "Hallador experienced unprecedented success continuing to lock in sales early for the 2020 calendar year. Next year's sales position is now 88% of our 8 million-ton target. Additionally, Hallador continued to generate solid Free Cash Flow in the 2nd quarter of 2019. These positive results were largely masked by a non-cash earnings adjustment and the seasonal mix of contract prices and deliveries. Good things are coming for Hallador in the second half of 2019."
The table below represents some of our critical metrics (in thousands except for per ton data):
Six Months Ended | Three Months Ended | ||||||||||
2019 | 2018 | 2019 | 2018 | ||||||||
Net Income (loss) | $ | 3,656 | $ | 2,109 | (3,344) | $ | (23) | ||||
Total Revenues | $ | 161,623 | $ | 124,107 | 72,310 | $ | 57,243 | ||||
Tons Sold | 3,937 | 3,184 | 1,807 | 1,477 | |||||||
Average Price per Ton | $ | 39.71 | $ | 38.85 | 39.35 | $ | 38.54 | ||||
Bank Debt | $ | 173,100 | $ | 200,488 | 173,100 | $ | 200,488 | ||||
Operating Cash Flow | $ | 23,711 | $ | 15,876 | 2,864 | $ | 2,683 | ||||
Adjusted EBITDA* | $ | 41,658 | $ | 37,124 | 16,423 | $ | 17,368 | ||||
Adjusted Free Cash Flow ** | $ | 20,595 | $ | 18,933 | 5,943 | $ | 8,211 | ||||
_____________________________ | |||||||||||
*Defined as EBITDA plus stock-based compensation and ARO accretion, less the effects of our equity method investments and Hourglass Sands. | |||||||||||
**Defined as net income plus deferred income taxes, DD&A, ARO accretion, and stock compensation, less maintenance capex and the effects of our equity method investments. | |||||||||||
EBITDA, adjusted EBITDA, and adjusted free cash flow should not be considered alternatives 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 EBITDA, adjusted EBITDA, and adjusted free cash flow may not be the same method used to compute similar measures reported by other companies.
Management believes that the presentation of such additional financial measures provides useful information to investors regarding our performance and results of operations because these measures, when used in conjunction with related GAAP financial measures, (i) provide additional information about our core operating performance and ability to generate and distribute cash flow, (ii) provide investors with the financial and analytical framework upon which management bases financial, operation, compensation, and planning decisions, and (iii) present measurements that investors, rating agencies, and debt holders have indicated are useful in assessing our results.
Reconciliation of GAAP "net income" to non-GAAP "adjusted EBITDA" (in thousands).
Six Months Ended | Three Months Ended | |||||||||||
2019 | 2018 | 2019 | 2018 | |||||||||
Net income (loss) | $ | 3,656 | $ | 2,109 | $ | (3,344) | $ | (23) | ||||
Income tax expense (benefit) | 155 | 43 | 191 | (123) | ||||||||
Loss from Hourglass Sands | 391 | 557 | 140 | 421 | ||||||||
Loss from equity method investments | 166 | 156 | 132 | 73 | ||||||||
DD&A | 23,824 | 21,949 | 12,092 | 11,120 | ||||||||
ARO accretion | 623 | 573 | 314 | 291 | ||||||||
Loss (gain) on impairment & disposal of assets | (100) | 572 | (100) | 40 | ||||||||
Loss (gain) on marketable securities | (348) | 194 | (45) | 40 | ||||||||
Interest Expense | 9,988 | 7,023 | 5,369 | 4,315 | ||||||||
Other amortization | 2,291 | 1,582 | 1,156 | 820 | ||||||||
Stock-based compensation | 1,012 | 2,366 | 518 | 394 | ||||||||
Adjusted EBITDA | $ | 41,658 | $ | 37,124 | $ | 16,423 | $ | 17,368 | ||||
Reconciliation of GAAP "net income" to non-GAAP "adjusted free cash flow" (in thousands).
Six Months Ended | Three Months Ended | |||||||||||
2019 | 2018 | 2019 | 2018 | |||||||||
Net income (loss) | $ | 3,656 | $ | 2,109 | $ | (3,344) | $ | (23) | ||||
Loss from equity method investments | 166 | 156 | 132 | 73 | ||||||||
Deferred income tax expense (benefit) | 306 | 265 | 113 | (104) | ||||||||
DD&A | 23,834 | 21,949 | 12,096 | 11,120 | ||||||||
ARO accretion | 623 | 573 | 314 | 291 | ||||||||
Deferred financing costs amortization | 1,085 | 940 | 542 | 483 | ||||||||
Change in fair value of interest rate swaps | 2,856 | 844 | 1,843 | 1,002 | ||||||||
Loss (gain) on impairment & disposal of assets | (100) | 572 | (100) | 40 | ||||||||
Maintenance capex | (12,836) | (10,830) | (6,164) | (5,058) | ||||||||
Stock-based compensation less taxes paid | 1,005 | 2,355 | 511 | 387 | ||||||||
Adjusted Free Cash Flow | $ | 20,595 | $ | 18,933 | $ | 5,943 | $ | 8,211 | ||||
Conference Call
As previously announced our earnings conference call for financial analysts and investors will be held on Tuesday, August 6, 2019, at 2:00 pm eastern time. Dial-in numbers for the live conference call are as follows:
Toll-free (888) 347-5317
Canadian Callers Toll-free (855) 669-9657
Conference ID #: Hallador Energy Company HNRG Call
An audio replay of the conference call will be available for one week. To access the audio replay, dial US Toll-Free (877) 344-7529; Canada Toll-Free (855) 669-9658 and request to be connected to replay access code 10130750.
Hallador is headquartered in Terre Haute, Indiana and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador or Sunrise, visit our website at www.halladorenergy.com.
View original content to download multimedia:http://www.prnewswire.com/news-releases/hallador-energy-reports-2019-2nd-quarter-financial-and-operating-results-300896649.html
SOURCE Hallador Energy Company
Article Date
8/5/20197/16/2019 - Hallador Energy Company Declares Quarterly Dividend and Second Quarter 2019 Earnings Call
Hallador Energy Company Declares Quarterly Dividend and Second Quarter 2019 Earnings Call
Source: PR Newswire
DENVER, July 16, 2019 /PRNewswire/ -- (Nasdaq: HNRG) – The board of directors of Hallador Energy Company today declared a regular quarterly dividend of $.04 per share. The dividend is payable on Friday, August 16, 2019, to shareholders of record as of Wednesday, July 31, 2019.
Hallador plans to release its second quarter 2019 financial results on Form 10-Q after the markets close on Monday, August 5, 2019. Management will discuss these results during an investor call on Tuesday, August 6, 2019, at 2:00 p.m. Eastern Time.
The call will be webcast live on our website at www.halladorenergy.com under Webcasts and available for a limited time.
To participate in the conference call, please dial:
Domestic Callers Toll-free (888) 347-5317
Canadian Callers Toll-free (855) 669-9657
Conference ID #: Hallador Energy Company HNRG call
Conference replay through Tuesday, August 13, 2019
Domestic Callers Toll-free (877) 344-7529
Canadian Callers Toll-free (855) 669-9658
Replay Access Code: 10130750
The Form 10-Q will be available on our website at www.halladorenergy.com under "SEC Filings" on the Financial Information tab.
Hallador is headquartered in Terre Haute, Indiana, and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador, visit our website at www.halladorenergy.com.
View original content to download multimedia:http://www.prnewswire.com/news-releases/hallador-energy-company-declares-quarterly-dividend-and-second-quarter-2019-earnings-call-300886168.html
SOURCE Hallador Energy Company
Article Date
7/16/2019Hallador Energy Reports 2019 1st Quarter Results Of $.23 Per Share Citing Increased Coal Volumes And Revenue
Source: PR Newswire
DENVER, May 6, 2019 /PRNewswire/ -- Hallador Energy Company (Nasdaq: HNRG) reports financial and operating results for the quarter ended March 31, 2019. Hallador filed its Form 10-Q after the markets closed today.
Brent Bilsland, President and Chief Executive Officer, commented, "Hallador generated $14.7MM in Adjusted Free Cash Flow in the 1st quarter of 2019. Considering that these results came from a company with a ~$150MM market cap and is 79% sold out for the next four years, represents exceptional value."
Highlights for the quarter include:
The table below represents some of our critical metrics (in thousands except for per ton data):
Quarters Ended March 31, | |||||||
2019 | 2018 | ||||||
Net Income | $ | 7,000 | $ | 2,132 | |||
Total Revenues | $ | 89,313 | $ | 66,864 | |||
Tons Sold | 2,130 | 1,707 | |||||
Average Price per Ton | $ | 40.02 | $ | 39.13 | |||
Bank Debt | $ | 168,450 | $ | 190,737 | |||
Operating Cash Flow | $ | 20,847 | $ | 13,193 | |||
Adjusted EBITDA* | $ | 25,235 | $ | 19,756 | |||
Adjusted Free Cash Flow ** | $ | 14,652 | $ | 10,722 | |||
_____________________________________ | |||||||
*Defined as EBITDA plus stock-based compensation and ARO accretion, less the effects of our equity method investments and Hourglass Sands. | |||||||
**Defined as net income plus deferred income taxes, DD&A, ARO accretion, and stock compensation, less maintenance capex and the effects of our equity method investments. | |||||||
EBITDA, adjusted EBITDA, and adjusted free cash flow should not be considered alternatives 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 EBITDA, adjusted EBITDA, and adjusted free cash flow may not be the same method used to compute similar measures reported by other companies.
Management believes that the presentation of such additional financial measures provides useful information to investors regarding our performance and results of operations because these measures, when used in conjunction with related GAAP financial measures, (i) provide additional information about our core operating performance and ability to generate and distribute cash flow, (ii) provide investors with the financial and analytical framework upon which management bases financial, operation, compensation, and planning decisions, and (iii) present measurements that investors, rating agencies, and debt holders have indicated are useful in assessing our results.
Reconciliation of GAAP "net income" to non-GAAP "adjusted EBITDA" (in thousands).
Quarters Ended March 31, | ||||||||||
2019 | 2018 | |||||||||
Net income | $ | 7,000 | $ | 2,132 | ||||||
Income tax expense (benefit) | (36) | 166 | ||||||||
Loss from Hourglass Sands | 251 | 136 | ||||||||
Loss from equity method investments | 34 | 83 | ||||||||
DD&A | 11,732 | 10,829 | ||||||||
ARO accretion | 309 | 282 | ||||||||
Loss on disposal of assets | - | 532 | ||||||||
Loss (gain) on marketable securities | (303) | 154 | ||||||||
Interest Expense | 4,619 | 2,708 | ||||||||
Other amortization | 1,135 | 762 | ||||||||
Stock-based compensation | 494 | 1,972 | ||||||||
Adjusted EBITDA | $ | 25,235 | $ | 19,756 | ||||||
Reconciliation of GAAP "net income" to non-GAAP "adjusted free cash flow" (in thousands). | ||||||||||
Quarters Ended March 31, | ||||||||||
2019 | 2018 | |||||||||
Net Income | $ | 7,000 | $ | 2,132 | ||||||
Loss from equity method investments | 34 | 83 | ||||||||
Deferred income tax expense | 193 | 369 | ||||||||
DD&A | 11,738 | 10,829 | ||||||||
ARO accretion | 309 | 282 | ||||||||
Deferred financing costs amortization | 543 | 457 | ||||||||
Change in fair value of interest rate swaps | 1,013 | (158) | ||||||||
Loss on disposal of assets | - | 532 | ||||||||
Maintenance capex | (6,672) | (5,772) | ||||||||
Stock-based compensation less taxes paid | 494 | 1,968 | ||||||||
Adjusted Free Cash Flow | $ | 14,652 | $ | 10,722 | ||||||
Conference Call
As previously announced our earnings conference call for financial analysts and investors will be held on Tuesday, May 7, 2019, at 2:00 pm eastern time. Dial-in numbers for the live conference call are as follows:
Toll-free (888) 347-5317
Canadian Callers Toll-free (855) 669-9657
Conference ID #: Hallador Energy Company HNRG Call
An audio replay of the conference call will be available for one week. To access the audio replay, dial US Toll-Free (877) 344-7529; Canada Toll-Free (855) 669-9658 and request to be connected to replay access code 10130749.
Hallador is headquartered in Denver, Colorado and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador or Sunrise, visit our websites at www.halladorenergy.com.
View original content to download multimedia:http://www.prnewswire.com/news-releases/hallador-energy-reports-2019-1st-quarter-results-of-23-per-share-citing-increased-coal-volumes-and-revenue-300844698.html
SOURCE Hallador Energy Company
Article Date
5/6/2019Scott Pruitt, Former Administrator of the EPA to Defend Indiana Rate Payers
Source: PR Newswire
DENVER, April 20, 2019 /PRNewswire/ -- (Nasdaq: HNRG) - Scott Pruitt, former Administrator of the EPA has registered on behalf of Rail Point Solutions LLC, a subsidiary of Hallador Energy Company, as a lobbyist to attempt to protect the ratepayers of Indiana from Vectren and NIPSCO rate increases. Both of these Indiana utilities are proposing policies that will increase their customers' electricity bills. The Indiana Utility Regulatory Commission (IURC) ultimately will decide the outcome of these policies, but Vectren and NIPSCO are arguing that the IURC should close plants based on Obama era rules that Trump and his EPA are in the process of unwinding. Their argument is that no one knows what the new rules will look like so we should hurry and make permanent decisions today. Who better than Scott Pruitt to aid the Indiana legislature on what Trump energy policy will look like?
If the IURC rules in Vectren and NIPSCO's favor, both utilities will likely receive accelerated payments on the plants they are closing plus a guaranteed return on their investment in new plants. Such a ruling would bring great profits to the utilities' shareholders at the expense of their customers. In Vectren's case, a study shows that the average Vectren customer's rates will increase by 27%, if their project stays on budget.
In the last 10 years, Indiana coal consumption has declined by 26%, at the same time Indiana electricity rates have increased by 26%. Is there a correlation? At the same time, Indiana has slipped from the 6th most competitive state based on electricity rates to 30th. Will this affect job creation?
Ultimately, Governor Holcomb is not allowed to instruct the IURC on energy policy, it is up to the Indiana legislature to create an energy plan for the IURC to follow. We are asking the legislature to add two sentences to the budget bill that prevent the IURC from making decisions based on rules that the EPA is currently reconsidering, and in some instances has already reversed. We are asking the Indiana legislature to act and prevent rates from increasing unnecessarily. A failure to act will most assuredly lead to higher rates on Indiana consumers and businesses. We are reaching out to our friends in the Indiana Chamber of Commerce and Indiana Manufacturer Association to ask them to help us in this effort.
View original content to download multimedia:http://www.prnewswire.com/news-releases/scott-pruitt-former-administrator-of-the-epa-to-defend-indiana-rate-payers-300835388.html
SOURCE Hallador Energy Company
Article Date
4/20/20194/15/2019 - Hallador Energy Company Declares Quarterly Dividend and First Quarter 2019 Earnings Call
Hallador Energy Company Declares Quarterly Dividend and First Quarter 2019 Earnings Call
Source: PR Newswire
DENVER, April 15, 2019 /PRNewswire/ -- (Nasdaq: HNRG) –The board of directors of Hallador Energy Company today declared a regular quarterly dividend of $.04 per share. The dividend is payable on Friday, May 17, 2019, to shareholders of record as of Tuesday, April 30, 2019.
Hallador plans to release its first quarter 2019 financial results on Form 10-Q after the markets close on Monday, May 6, 2019. Management will discuss these results during an investor call on Tuesday, May 7, 2019, at 2:00 p.m. Eastern Time.
The call will be webcast live on our website at www.halladorenergy.com under Webcasts and available for a limited time.
To participate in the conference call, please dial:
Domestic Callers Toll-free (888) 347-5317
Canadian Callers Toll-free (855) 669-9657
Conference ID #: Hallador Energy Company HNRG Call
Conference replay through Tuesday, May 14, 2019
Domestic Callers Toll-free (877) 344-7529
Canadian Callers Toll-free (855) 669-9658
Replay Access Code: 10130749
The Form 10-Q will be available on our website at www.halladorenergy.com under "SEC Filings" on the Financial Information tab.
Hallador is headquartered in Denver, Colorado and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador, visit our website at www.halladorenergy.com.
View original content to download multimedia:http://www.prnewswire.com/news-releases/hallador-energy-company-declares-quarterly-dividend-and-first-quarter-2019-earnings-call-300832457.html
SOURCE Hallador Energy Company
Article Date
4/15/2019Hallador Energy Reports 2018 Annual Earnings And Updates Sales Guidance Through 2022
Source: PR Newswire
DENVER, March 11, 2019 /PRNewswire/ -- Hallador Energy Company (Nasdaq: HNRG) reports financial and operating results for the year ended December 31, 2018. Hallador filed its Form 10-K after the markets closed today.
Brent Bilsland, President and Chief Executive Officer, commented, "We have had an exceptional sales season. As a result, we are raising our 2019 sales guidance to 8.2 million tons from 7.3 million tons in 2018. Additionally, we are forecasting sales of 8.0 million tons annually for 2020-2022 time frame. Currently we have 78% of our production sold for the next four years, providing great cash flow visibility for Hallador shareholders. Additionally, we have nearly doubled the number of powerplants we serve from 9 in 2017 to 17 powerplants today. We estimate our new customers' total demand to be 165% greater than the customers we served in 2017, providing exciting new sales opportunities going forward."
Highlights for the year include:
The table below represents some of our critical metrics (in thousands except for per ton data):
Years Ended December 31, | |||||||
2018 | 2017 | ||||||
Net Income | $ | 7,621 | $ | 33,076 | |||
Total Revenues | $ | 293,557 | $ | 271,633 | |||
Tons Sold | 7,365 | 6,574 | |||||
Average Price per Ton | $ | 39.62 | $ | 40.80 | |||
Bank Debt | $ | 188,463 | $ | 201,992 | |||
Operating Cash Flow | $ | 51,570 | $ | 65,771 | |||
Adjusted EBITDA* | $ | 74,085 | $ | 83,870 | |||
Adjusted Free Cash Flow ** | $ | 35,839 | $ | 58,351 | |||
_____________________________________ | |||||||
*Defined as EBITDA plus stock-based compensation and ARO accretion, less the effects of our equity method investments and Hourglass Sands. | |||||||
**Defined as net income plus deferred income taxes, DD&A, ARO accretion, and stock compensation, less maintenance capex and the effects of our equity method investments. | |||||||
EBITDA, adjusted EBITDA, and adjusted free cash flow should not be considered alternatives 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 EBITDA, adjusted EBITDA, and adjusted free cash flow may not be the same method used to compute similar measures reported by other companies.
Management believes that the presentation of such additional financial measures provides useful information to investors regarding our performance and results of operations because these measures, when used in conjunction with related GAAP financial measures, (i) provide additional information about our core operating performance and ability to generate and distribute cash flow, (ii) provide investors with the financial and analytical framework upon which management bases financial, operation, compensation, and planning decisions, and (iii) present measurements that investors, rating agencies, and debt holders have indicated are useful in assessing our results.
Reconciliation of GAAP "net income" to non-GAAP "adjusted EBITDA" (in thousands). | ||||||||||
Years Ended December 31, | ||||||||||
2018 | 2017 | |||||||||
Net income | $ | 7,621 | $ | 33,076 | ||||||
Income tax benefit | (4,075) | (19,194) | ||||||||
Loss from Hourglass Sands | 1,169 | - | ||||||||
Loss (income) from equity method investments | 187 | (365) | ||||||||
Purchased contract amortization | - | 8,922 | ||||||||
DD&A | 44,157 | 38,495 | ||||||||
ARO accretion | 1,167 | 861 | ||||||||
Loss on impairment & disposal of assets | 561 | 45 | ||||||||
Loss on marketable securities | 226 | - | ||||||||
Interest Expense | 16,288 | 12,413 | ||||||||
Other amortization | 3,614 | 2,351 | ||||||||
Stock-based compensation | 3,170 | 7,266 | ||||||||
Adjusted EBITDA | $ | 74,085 | $ | 83,870 | ||||||
Reconciliation of GAAP "net income" to non-GAAP "adjusted free cash flow" (in thousands). | ||||||||||
Years Ended December 31, | ||||||||||
2018 | 2017 | |||||||||
Net Income | $ | 7,621 | $ | 33,076 | ||||||
Loss (income) from equity method investments | 187 | (365) | ||||||||
Purchased contract amortization | - | 8,922 | ||||||||
Deferred income tax benefit | (2,287) | (16,446) | ||||||||
DD&A | 44,167 | 38,495 | ||||||||
ARO accretion | 1,167 | 861 | ||||||||
Deferred financing costs amortization | 2,024 | 1,829 | ||||||||
Change in fair value of interest rate swaps | 2,182 | (723) | ||||||||
Loss on impairment & disposal of assets | 561 | 45 | ||||||||
Maintenance capex | (22,655) | (11,400) | ||||||||
Stock-based compensation less taxes paid | 2,872 | 4,057 | ||||||||
Adjusted Free Cash Flow | $ | 35,839 | $ | 58,351 | ||||||
Conference Call
As previously announced our earnings conference call for financial analysts and investors will be held on Tuesday, March 12, 2019, at 2:00 pm eastern time. Dial-in numbers for the live conference call are as follows:
Toll-free (888) 347-5317
Canadian Callers Toll-free (855) 669-9657
Conference ID #: Hallador Energy Company HNRG Call
An audio replay of the conference call will be available for one week. To access the audio replay, dial US Toll-Free (877) 344-7529; Canada Toll-Free (855) 669-9658 and request to be connected to replay access code 10127968.
Hallador is headquartered in Denver, Colorado and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador or Sunrise, visit our website at www.halladorenergy.com.
View original content to download multimedia:http://www.prnewswire.com/news-releases/hallador-energy-reports-2018-annual-earnings-and-updates-sales-guidance-through-2022-300810434.html
SOURCE Hallador Energy Company
Article Date
3/11/20191/17/2019 - Hallador Energy Declares Quarterly Dividend and Announces 4th Quarter and Full Year 2018 Earnings Call
Hallador Energy Declares Quarterly Dividend and Announces 4th Quarter and Full Year 2018 Earnings Call
Source: PR Newswire
DENVER, Jan. 17, 2019 /PRNewswire/ -- Hallador Energy Company (Nasdaq: HNRG) today announced that its Board of Directors has declared a cash dividend for the first quarter 2019 of $.04 per share on the company's common stock. The dividend is payable on Friday, February 15, 2019, to shareholders of record as of Thursday, January 31, 2019.
Hallador plans to release its 4th quarter and full year 2018 financial results on Form 10-K after the markets close on Monday, March 11, 2019.
Management will discuss these results during an investor call on Tuesday, March 12, 2019, at 2:00 p.m. Eastern Time.
The call will be webcast live on our website at www.halladorenergy.com under Webcasts and available for a limited time.
To participate in the conference call, please dial:
Domestic Callers Toll-free (888) 347-5317
Canadian Callers Toll-free (855) 669-9657
Conference ID #: Hallador Energy Company HNRG call
Conference replay through Monday, March 18, 2019
Domestic Callers Toll-free (877) 344-7529
Canadian Callers Toll-free (855) 669-9658
Replay Access Code: 10127968
Hallador is headquartered in Denver, Colorado and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador, visit our website at www.halladorenergy.com.
View original content to download multimedia:http://www.prnewswire.com/news-releases/hallador-energy-declares-quarterly-dividend-and-announces-4th-quarter-and-full-year-2018-earnings-call-300780620.html
SOURCE Hallador Energy Company
Article Date
1/17/201910/16/2018 - Hallador Energy Declares Quarterly Dividend and Announces 3rd Quarter 2018 Earnings Call
Hallador Energy Declares Quarterly Dividend and Announces 3rd Quarter 2018 Earnings Call
Source: PR Newswire
DENVER, Oct. 16, 2018 /PRNewswire/ -- (Nasdaq: HNRG) –Today Hallador Energy's Board of Directors declared a regular quarterly dividend of $.04 per share. The dividend is payable on Friday, November 16, 2018, to shareholders of record as of Wednesday, October 31, 2018.
Hallador plans to release its 3rd quarter 2018 financial results on Form 10-Q after the markets close on Monday, November 5, 2018. Management will discuss these results during an investor call on Tuesday, November 6, 2018, at 2:00 p.m. Eastern Time.
The call will be webcast live on our website at www.halladorenergy.com under Webcasts and available for a limited time.
To participate in the conference call, please dial:
Domestic Callers Toll-free (888) 347-5317
Canadian Callers Toll-free (855) 669-9657
Conference ID #: Hallador Energy Company HNRG call
Conference replay through Wednesday, November 14, 2018
Domestic Callers Toll-free (877) 344-7529
Canadian Callers Toll-free (855) 669-9658
Replay Access Code: 10125239
Hallador is headquartered in Denver, Colorado and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador, visit our website at www.halladorenergy.com.
View original content to download multimedia:http://www.prnewswire.com/news-releases/hallador-energy-declares-quarterly-dividend-and-announces-3rd-quarter-2018-earnings-call-300731587.html
SOURCE Hallador Energy
Article Date
10/16/2018Hallador Energy Reports Results For Second Quarter And First Six Months Of 2018
Source: PR Newswire
DENVER, Aug. 6, 2018 /PRNewswire/ -- Hallador Energy Company (NASDAQ: HNRG) reports financial and operating results for the second quarter and first six months of 2018. Hallador filed its Form 10-Q after the markets closed today.
Brent Bilsland, President and Chief Executive Officer, commented, "Excellent production led to us beating our cost estimates by over $4/ton during the quarter. We have worked to increase our inventory and add capacity with the reopening of the Carlisle Mine in order to meet our large contracted shipments and potential spot sales in the second half of the year."
Highlights include:
The table below represents some of our critical metrics (in thousands except for per ton data):
|
Six Months Ended |
Three Months Ended | |||||||||||
|
2018 |
2017 |
2018 |
2017 | |||||||||
|
Net Income (Loss) |
$ |
2,109 |
$ |
7,803 |
$ |
(23) |
$ |
389 | ||||
|
Total Revenues |
$ |
124,107 |
$ |
127,865 |
$ |
57,243 |
$ |
64,312 | ||||
|
Tons Sold |
3,184 |
3,103 |
1,477 |
1,548 | ||||||||
|
Average Price per Ton |
$ |
38.85 |
$ |
40.41 |
$ |
38.54 |
$ |
40.59 | ||||
|
Bank Debt |
$ |
200,488 |
$ |
225,492 |
$ |
200,488 |
$ |
225,492 | ||||
|
Operating Cash Flow |
$ |
15,865 |
$ |
23,961 |
$ |
2,676 |
$ |
9,067 | ||||
|
Adjusted EBITDA* |
$ |
37,124 |
$ |
44,927 |
$ |
17,368 |
$ |
20,814 | ||||
|
Adjusted Free Cash Flow ** |
$ |
18,934 |
$ |
28,419 |
$ |
8,212 |
$ |
10,682 | ||||
|
_________________________ | ||||||||||||
|
*Defined as EBITDA plus stock-based compensation and ARO accretion, less the effects of our equity method investments and Hourglass Sands. | ||||||||||||
|
**Defined as net income plus deferred income taxes, DD&A, ARO accretion, and stock compensation, less maintenance capex and the effects of our equity method investments. |
EBITDA, adjusted EBITDA, and adjusted free cash flow should not be considered alternatives 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 EBITDA, adjusted EBITDA and adjusted free cash flow may not be the same method used to compute similar measures reported by other companies.
Management believes that the presentation of such additional financial measures provides useful information to investors regarding our performance and results of operations because these measures, when used in conjunction with related GAAP financial measures, (i) provide additional information about our core operating performance and ability to generate and distribute cash flow, (ii) provide investors with the financial and analytical framework upon which management bases financial, operation, compensation, and planning decisions, and (iii) present measurements that investors, rating agencies, and debt holders have indicated are useful in assessing our results.
Conference Call
As previously announced our earnings conference call for financial analysts and investors will be held on Tuesday, August 7, 2018, at 2:00 pm eastern time. Dial-in numbers for the live conference call are as follows:
Toll-free (888) 347-5317
Canadian Callers Toll-free (855) 669-9657
Conference ID #: Hallador Energy Company HNRG Call
An audio replay of the conference call will be available for one week. To access the audio replay, dial US Toll-Free (877) 344-7529; Canada Toll-Free (855) 669-9658 and request to be connected to replay access code 10121639.
Hallador is headquartered in Denver, Colorado and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador or Sunrise, visit our websites at www.halladorenergy.com.
View original content with multimedia:http://www.prnewswire.com/news-releases/hallador-energy-reports-results-for-second-quarter-and-first-six-months-of-2018-300692735.html
SOURCE Hallador Energy Company
Article Date
8/6/20187/16/2018 - Hallador Energy Declares Quarterly Dividend and Announces 2nd Quarter 2018 Earnings Call
Hallador Energy Declares Quarterly Dividend and Announces 2nd Quarter 2018 Earnings Call
Source: PR Newswire
DENVER, July 16, 2018 /PRNewswire/ -- (Nasdaq: HNRG) –Today Hallador Energy's Board of Directors declared a regular quarterly dividend of $.04 per share. The dividend is payable on Friday, August 17, 2018, to shareholders of record as of Tuesday, July 31, 2018.
Hallador plans to release its 2nd quarter 2018 financial results on Form 10-Q after the markets close on Monday, August 6, 2018.
Management will discuss these results during an investor call on Tuesday, August 7, 2018, at 2:00 p.m. Eastern Time.
The call will be webcast live on our website at www.halladorenergy.com under Webcasts and available for a limited time.
To participate in the conference call, please dial:
Domestic Callers Toll-free (888) 347-5317
Canadian Callers Toll-free (855) 669-9657
Conference ID #: Hallador Energy Company HNRG call
Conference replay through Tuesday, August 14, 2018
Domestic Callers Toll-free (877) 344-7529
Canadian Callers Toll-free (855) 669-9658
Replay Access Code: 10121639
Hallador is headquartered in Denver, Colorado and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador, visit our website at www.halladorenergy.com.
View original content with multimedia:http://www.prnewswire.com/news-releases/hallador-energy-declares-quarterly-dividend-and-announces-2nd-quarter-2018-earnings-call-300681723.html
SOURCE Hallador Energy
Article Date
7/16/2018Hallador Energy Secures New $267MM Credit Facility Through 2022
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
DENVER, May 21, 2018 /PRNewswire/ -- Hallador Energy Company (NASDAQ: HNRG) entered into a new $267 million credit agreement today, with PNC Bank as the administrative agent, extending the term of the agreement through May 2022.
The $267 million facility is comprised of a $147 million term loan and a $120 million revolver. In addition to extending the term of the facility, the loan substantially reduces debt service requirements and moves the loan from the Sunrise Coal level to the Hallador level, allowing for investments in Hourglass Sands as opportunities arise.
"We are happy to put our credit needs to bed for the next four years, and will continue our intense focus on debt reduction. Since the original credit facility was established in August 2014, we have paid down $144 million of debt," said Brent Bilsland, President, CEO & Chairman of Hallador Energy Company.
Hallador is headquartered in Denver, Colorado and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador or Sunrise, visit our website at www.halladorenergy.com.
View original content with multimedia:http://www.prnewswire.com/news-releases/hallador-energy-secures-new-267mm-credit-facility-through-2022-300652199.html
SOURCE Hallador Energy Company
Article Date
5/21/2018Hallador Energy Reports 2018 1st Quarter Results Of $.07 Per Share
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
DENVER, May 7, 2018 /PRNewswire/ -- Hallador Energy Company (NASDAQ: HNRG) reports financial and operating results for the first quarter ended March 31, 2018. Hallador filed its Form 10-Q after the markets closed today.
Highlights include:
The table below represents some of our critical metrics (in thousands except for per ton data):
|
Three Months Ended March 31, | ||||||
|
2018 |
2017 | |||||
|
Net Income |
$ |
2,132 |
$ |
7,414 | ||
|
Total Revenues |
$ |
66,864 |
$ |
63,553 | ||
|
Tons Sold |
1,707 |
1,555 | ||||
|
Average Price per Ton |
$ |
39.13 |
$ |
40.23 | ||
|
Bank Debt |
$ |
190,737 |
$ |
232,055 | ||
|
Operating Cash Flow |
$ |
13,189 |
$ |
14,894 | ||
|
Adjusted EBITDA* |
$ |
18,851 |
$ |
23,926 | ||
|
Adjusted Free Cash Flow ** |
$ |
10,722 |
$ |
17,968 | ||
|
_________________________ |
||||||
|
*Defined as EBITDA plus stock-based compensation plus ARO accretion. | ||||||
|
**Defined as net income plus deferred income taxes, DD&A, ARO accretion, and stock compensation, less maintenance capex. | ||||||
EBITDA, adjusted EBITDA, and adjusted free cash flow should not be considered alternatives 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 EBITDA, adjusted EBITDA and adjusted free cash flow may not be the same method used to compute similar measures reported by other companies.
Management believes that the presentation of such additional financial measures provides useful information to investors regarding our performance and results of operations because these measures, when used in conjunction with related GAAP financial measures, (i) provide additional information about our core operating performance and ability to generate and distribute cash flow, (ii) provide investors with the financial and analytical framework upon which management bases financial, operation, compensation, and planning decisions and (iii) present measurements that investors, rating agencies, and debt holders have indicated are useful in assessing our results.
Conference Call
As previously announced our earnings conference call for financial analysts and investors will be held on Tuesday, May 8, 2018, at 2:00pm eastern time. Dial-in numbers for the live conference call are as follows:
Toll-free (888) 347-5317
Canadian Callers Toll-free (855) 669-9657
Conference ID #: Hallador Energy Company HNRG Call
An audio replay of the conference call will be available for approximately one week. To access the audio replay, dial US Toll-Free (877) 344-7529; Canada Toll-Free (855) 669-9658 and request to be connected to replay access code 10119562.
Hallador is headquartered in Denver, Colorado and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador or Sunrise, visit our websites at www.halladorenergy.com.
View original content with multimedia:http://www.prnewswire.com/news-releases/hallador-energy-reports-2018-1st-quarter-results-of-07-per-share-300643930.html
SOURCE Hallador Energy Company
Article Date
5/7/2018Hallador Announces the Passing of Victor P. Stabio, Board Chairman
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
DENVER, March 9, 2018 /PRNewswire/ -- Nasdaq: HNRG – We regret to announce the passing of Victor P. Stabio, age 70, Wednesday night, March 7. Vic served as our CEO from 1991 through 2014 and more recently as the Board Chairman. Vic was instrumental in transforming Hallador from a financially challenged oil and gas exploration company to a highly successful coal mining company. Due to Vic's outstanding reputation in the oil and gas industry, he was able to convince Yorktown Partners and Lubar & Co. to become shareholders along with brothers David and Steven Hardie, founding shareholders.
"Twenty-seven years ago I had the pleasure of hiring Vic as CEO. His impact on the company was immediate as was our friendship. He will be missed by all that have known and worked with him," said David Hardie, Founder, board member, and past Board Chairman.
Our CEO and Board Chairman, Brent Bilsland said, "I worked with Vic for 12 years. He has been a valuable mentor and like a father to me. Hallador would not be the success it is today without Vic's vision. I will miss him greatly."
The entire Hallador family mourns this loss. On behalf of our Board of Directors, management team and employees, we extend our deepest sympathies to Vic's family.
There will be a memorial service at 11:00 am Monday, March 19 at Columbine United Church, 6375 S. Platte Canyon Drive, Littleton, CO 80123.
In lieu of flowers, donations can be made in Vic's name to: https://giving.cu.edu/fund/pancreatic-cancer-research.
Hallador is headquartered in Denver, Colorado and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador, visit our website at www.halladorenergy.com.
View original content with multimedia:http://www.prnewswire.com/news-releases/hallador-announces-the-passing-of-victor-p-stabio-board-chairman-300611723.html
SOURCE Hallador Energy Company
Article Date
3/9/20181/16/2018 - Hallador Energy Company Declares Quarterly Dividend and Announces 4th Quarter 2017 Earnings Call
Hallador Energy Company Declares Quarterly Dividend and Announces 4th Quarter 2017 Earnings Call
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
DENVER, Jan. 16, 2018 /PRNewswire/ -- (Nasdaq: HNRG) –The board of directors of Hallador Energy Company today declared a regular quarterly dividend of $.04 per share. The dividend is payable on Friday, February 16, 2018, to shareholders of record as of Wednesday, January 31, 2018.
Hallador plans to release its 4th quarter 2017 financial results on Form 10-K after the markets close on Monday, March 12, 2018. Management will discuss these results during an investor call on Tuesday, March 13, 2018, at 2:00 p.m. Eastern Time.
The call will be webcast live on our website at www.halladorenergy.com under Webcasts and available for a limited time.
To participate in the conference call, please dial:
Domestic Callers Toll-free (888) 347-5317
Canadian Callers Toll-free (855) 669-9657
Conference ID #: Hallador Energy's 4th Quarter 2017 Earnings Call
Conference replay through Tuesday, March 20, 2018
Domestic Callers Toll-free (877) 344-7529
Canadian Callers Toll-free (855) 669-9658
Replay Access Code: 10115860
The Form 10-K will be available on our website at www.halladorenergy.com under "SEC Filings" on the Financial Information tab.
Hallador is headquartered in Denver, Colorado and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador, visit our website at www.halladorenergy.com.
View original content with multimedia:http://www.prnewswire.com/news-releases/hallador-energy-company-declares-quarterly-dividend-and-announces-4th-quarter-2017-earnings-call-300583623.html
SOURCE Hallador Energy Company
Article Date
1/16/2018Hallador Energy Company Reports Additional 2018 and 2019 Coal Sales Contracts
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
DENVER, Jan. 5, 2018 /PRNewswire/ -- Hallador Energy Company (Nasdaq: HNRG) recently added new coal contract sales in 2018 and 2019 and is raising its projected sales target as follows:
|
2018: |
*6.2MM tons sold (91% of projected sales) at ~$40 per ton. Projecting 6.8MM |
|
2019: |
4.7MM tons sold (67% of projected sales) at ~$42 per ton. Projecting 7.0MM |
|
*2018 tons sold represent management's best estimate based on flexibility of contract positions |
"Our new contracted position provides Hallador with a solid foundation of sales that should allow us going forward to exceed the 6.6 MM tons that were shipped in 2017. It is also very exciting that the majority of these new sales are to power plants that we have not shipped to before. I attribute a good part of our success to our new Princeton Loop on the NS Railroad and the flexibility it provides our customers," said Brent Bilsland, President and CEO of Hallador Energy.
Hallador's headquarters are in Denver, Colorado and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador or Sunrise, visit our websites at www.halladorenergy.com or www.sunrisecoal.com.
View original content with multimedia:http://www.prnewswire.com/news-releases/hallador-energy-company-reports-additional-2018-and-2019-coal-sales-contracts-300578402.html
SOURCE Hallador Energy Company
Article Date
1/5/2018Hallador Energy Subsidiary To Construct Truck to NS Rail Facility in Indiana
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
DENVER, Nov. 9, 2017 /PRNewswire/ -- (Nasdaq: HNRG) Sunrise Coal, LLC, a wholly owned subsidiary of Hallador Energy, announces the signing of a Side Track Agreement with the Norfolk and Southern Railway to construct a truck to rail coal loading facility. The facility known as the Princeton Loop will be located 6 miles West of Princeton, IN on Highway 64 and includes the ability to unload trucks, blend coals, load 135 car unit trains in four hours and store over 4 million tons of coal. The new facility will primarily serve utility coal plants served by the Norfolk Southern once the rail facility is completed in the spring of 2018. Hallador's President and CEO, Brent Bilsland, stated, "We are excited about the development of the Princeton Loop as it enables Sunrise's low-cost production to access substantial new markets and better serve our customers."
Hallador's headquarters are in Denver, Colorado and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador or Sunrise, visit our websites at www.halladorenergy.com or www.sunrisecoal.com.
View original content with multimedia:http://www.prnewswire.com/news-releases/hallador-energy-subsidiary-to-construct-truck-to-ns-rail-facility-in-indiana-300553016.html
SOURCE Hallador Energy Company
Article Date
11/9/2017Hallador Energy Reports Third Quarter Results Of $.13 Per Share
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
DENVER, Nov. 6, 2017 /PRNewswire/ -- Hallador Energy Company (NASDAQ: HNRG) reports financial and operating results for the quarter ended September 30, 2017. Hallador will file its Form 10-Q before the markets open on Tuesday, November 7, 2017.
Highlights include:
EBITDA, adjusted EBITDA, and adjusted free cash flow should not be considered alternatives 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 EBITDA, adjusted EBITDA and adjusted free cash flow may not be the same method used to compute similar measures reported by other companies.
Management believes that the presentation of such additional financial measures provides useful information to investors regarding our performance and results of operations because these measures, when used in conjunction with related GAAP financial measures, (i) provide additional information about our core operating performance and ability to generate and distribute cash flow, (ii) provide investors with the financial and analytical framework upon which management bases financial, operation, compensation and planning decisions and (iii) present measurements that investors, rating agencies and debt holders have indicated are useful in assessing our results.
Conference Call
As previously announced our earnings conference call for financial analysts and investors will be held on Tuesday, November 7, 2017, at 2:00pm EST. Dial-in numbers for the live conference call are as follows:
Toll-free (888) 347-5317
Canadian Callers Toll-free (855) 669-9657
Conference ID #: Hallador Energy Company HNRG Call
An audio replay of the conference call will be available for approximately one week. To access the audio replay, dial US Toll-Free (877) 344-7529; Canada Toll-Free (855) 669-9658 and request to be connected to replay access code 10113629.
Hallador is headquartered in Denver, Colorado and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador or Sunrise, visit our websites at www.halladorenergy.com or www.sunrisecoal.com.
View original content with multimedia:http://www.prnewswire.com/news-releases/hallador-energy-reports-third-quarter-results-of-13-per-share-300550564.html
SOURCE Hallador Energy Company
Article Date
11/7/2017Sunrise Coal, LLC Announces Two Executive Promotions
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
DENVER, Nov. 3, 2017 /PRNewswire/ -- (Nasdaq: HNRG) Sunrise Coal, LLC, (Sunrise) a wholly owned subsidiary of Hallador Energy, today announces the promotions of:
Lawrence D. Martin promoted to President of Sunrise Coal, LLC
Effective today, Mr. Martin assumes the role of President of Sunrise Coal, LLC (Sunrise). Mr. Martin joined Sunrise in 2007 as Chief Financial Officer. In 2016, he was named Chief Financial Officer of Hallador Energy Company (Hallador). Mr. Martin assumes the role from Mr. Brent K. Bilsland who served as Sunrise's President since July 2006. Mr. Martin will continue to remain Hallador's Chief Financial Officer.
Heather L. Tryon promoted to Chief Financial Officer of Sunrise Coal, LLC
Effective today, Ms. Tryon assumes the role of Chief Financial Officer of Sunrise Coal. Previously, she served as Sunrise's Controller, a position she has held since joining Sunrise in August 2014. Ms. Tryon has been crucial in helping navigate Sunrise through the $311 million acquisition of Vectren Fuels and on-going internal controls and financial reporting. Prior to joining Sunrise, Ms. Tryon was the Controller of Speedco, Inc. and an Audit Manager at Clifton Larsen Allen, LLP (formerly Clifton Gunderson, LLP). She received her BS in Accounting from Indiana State University. She was also the recipient of the AICPA Elijah Watt Sells Gold Medal Award for the Uniform CPA Examination in May 1999.
Mr. Bilsland will remain Hallador Energy's President, Chief Executive Officer, and Director.
"These are not big changes in our company's organization as both Mr. Martin and Ms. Tryon have been instrumental in our company's growth and success for several years. They both have earned these promotions, and our company is better because they choose to be a part of our organization," said Brent Bilsland, President and CEO of Hallador Energy. "I am confident that they will thrive as they take their new leadership roles."
Hallador's headquarters are in Denver, Colorado and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador or Sunrise, visit our websites at www.halladorenergy.com or www.sunrisecoal.com.
View original content with multimedia:http://www.prnewswire.com/news-releases/sunrise-coal-llc-announces-two-executive-promotions-300549601.html
SOURCE Hallador Energy Company
Article Date
11/3/2017Hallador Energy Company Declares Quarterly Dividend and Announces 3rd Quarter 2017 Earnings Release and Conference Call
Source: PR Newswire
DENVER, Oct. 17, 2017 /PRNewswire/ -- (Nasdaq: HNRG) -- The Board of Directors of Hallador Energy Company today declared a regular quarterly dividend of $.04 per share. The dividend is payable on November 17, 2017, to shareholders of record as of October 31, 2017.
Hallador will report its third quarter 2017 financial results on Form 10-Q after the markets close on Monday, November 6, 2017. Management will discuss these results during a conference call on Tuesday, November 7, 2017, at 2:00 p.m. ET (12:00 p.m. MT). The Form 10-Q will be available on our website, www.halladorenergy.com, under "SEC Filings" on the Financial Information tab.
To participate in the conference call, please dial
Domestic Callers Toll-free (888) 347-5317
Canadian Callers Toll-free (855) 669-9657
Conference ID #: Hallador Energy Company HNRG Call
Investors may also listen to the call via the "Webcast" section of our website at http://www.halladorenergy.com.
An audio replay of the conference call will be available for approximately one week. To access the audio replay, dial US Toll-Free (877) 344-7529; Canada Toll-Free (855) 669-9658 and request to be connected to replay access code 10113629.
Hallador is headquartered in Denver, Colorado and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador or Sunrise, visit our websites at www.halladorenergy.com or www.sunrisecoal.com.
View original content with multimedia:http://www.prnewswire.com/news-releases/hallador-energy-company-declares-quarterly-dividend-and-announces-3rd-quarter-2017-earnings-release-and-conference-call-300538523.html
SOURCE Hallador Energy Company
Article Date
10/17/2017Hallador Energy Company Declares Quarterly Dividend and Announces 2nd Quarter 2017 Earnings Release and Conference Call
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
DENVER, July 17, 2017 /PRNewswire/ -- (Nasdaq: HNRG) – The Board of Directors of Hallador Energy Company today declared a regular quarterly dividend of $.04 per share. The dividend is payable on August 11, 2017, to shareholders of record as of July 31, 2017.
Hallador will report its second quarter 2017 financial results on Form 10-Q after the markets close on Tuesday, August 8, 2017. Management will discuss these results during a conference call on Wednesday, August 9, 2017, at 2:00 p.m. ET (12:00 p.m. MT). Our Form 10-Q will be available on our website, www.halladorenergy.com, under "SEC Filings" on the Financial Information tab.
To participate in the conference call, please dial
Domestic Callers Toll-free (888) 347-5317
Canadian Callers Toll-free (855) 669-9657
Conference ID #: Hallador Energy Company HNRG Call
Investors may also listen to the call via the "Webcast" section of our website at http://www.halladorenergy.com.
An audio replay of the conference call will be available for approximately one week. To access the audio replay, dial US Toll Free (877) 344-7529; Canada Toll Free (855) 669-9658 and request to be connected to replay access code 10110748.
Hallador is headquartered in Denver, Colorado and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador or Sunrise, visit our websites at www.halladorenergy.com or www.sunrisecoal.com.
View original content with multimedia:http://www.prnewswire.com/news-releases/hallador-energy-company-declares-quarterly-dividend-and-announces-2nd-quarter-2017-earnings-release-and-conference-call-300489481.html
SOURCE Hallador Energy Company
Article Date
7/17/2017Hallador Energy Company Mourns Death of Board Member, John Van Heuvelen
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
DENVER, May 23, 2017 /PRNewswire/ -- Hallador Energy Company (NASDAQ: HNRG). Hallador is mourning the death of John Van Heuvelen, a member of the Company's Board of Directors, who passed away on Wednesday, May 17, 2017, after a brief illness. Mr. Van Heuvelen was appointed to the Board of Directors in September 2009, and since then, has served continuously as Chairman of the Audit Committee. Mr. Van Heuvelen's leadership experience, knowledge, and insights were greatly valued by the Board of Directors and management. His presence will be missed.
"John was a good friend for over 40 years, and a great director for Hallador these past eight years," said Mr. Victor Stabio, Chairman of the Board. "His insight as Audit Committee Chair was invaluable. On behalf of Hallador and our Board of Directors, I extend our deepest sympathies to his family."
SOURCE Hallador Energy Company
Article Date
5/23/2017Hallador Energy Announces First Quarter 2017 Earnings Release Date and Investor Call
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
DENVER, April 26, 2017 /PRNewswire/ -- (Nasdaq: HNRG) – Hallador will release its first quarter 2017 financial results on Form 10-Q after the markets close on Monday, May 8, 2017. Hallador will host an investor call to discuss the results at 2:00 p.m. Eastern Time on Tuesday, May 9, 2017.
To participate in the conference call, please dial:
Domestic Callers Toll-free (888) 347-5317
Canadian Callers Toll-free (855) 669-9657
Conference ID #: Hallador Energy Company HNRG Call
A live audio webcast of the investor call will be accessible on our website under Webcasts.
Additionally, a replay of the audio webcast will be available one hour after the call. A transcript will be posted on our website on Friday, May 12, 2017.
A copy of the Form 10-Q will be available for download or viewing on our website, www.halladorenergy.com, under the Financial Information section.
Hallador is headquartered in Denver, Colorado and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador or Sunrise, visit our websites at www.halladorenergy.com or www.sunrisecoal.com.
SOURCE Hallador Energy Company
Article Date
4/27/2017Hallador Energy Company Declares Quarterly Dividend
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
DENVER, April 17, 2017 /PRNewswire/ -- (Nasdaq: HNRG) –The Board of Directors of Hallador Energy Company today declared a regular quarterly dividend of $.04 per share. The dividend is payable on Friday, May 12, 2017 to shareholders of record as of April 28, 2017.
Hallador is headquartered in Denver, Colorado and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador or Sunrise, visit our websites at www.halladorenergy.com or www.sunrisecoal.com.
SOURCE Hallador Energy Company
Article Date
4/17/2017Hallador Energy to Discuss 2016 Results on Tuesday, March 14, 2017
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
DENVER, Feb. 28, 2017 /PRNewswire/ -- Hallador Energy (NASDAQ: HNRG) plans to release its 2016 financial results on Form 10-K after the market close on Friday, March 10, 2017. Management will review the results during a telephone conference call for investors and analysts on Tuesday, March 14, 2017 at 2:00 p.m. ET (12:00 p.m. MT).
The call will be webcast live on our website at www.halladorenergy.com under Webcasts and available for replay for a limited time.
To participate in the conference call, please dial:
Domestic Callers Toll-free (888) 347-5317
Canadian Callers Toll-free (855) 669-9657
Conference ID: Hallador Energy Company HNRG Call
Conference replay through Tuesday, March 21, 2017.
Domestic Callers Toll-free (877) 344-7529
Canadian Callers Toll-free (855) 669-9658
Replay Access Code: 10099945
A copy of the Form 10-K will be available on our website at www.halladorenergy.com under "SEC Filings" on the Financial Information tab.
Hallador is headquartered in Denver, Colorado and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador or Sunrise, visit our websites at www.halladorenergy.com or www.sunrisecoal.com.
SOURCE Hallador Energy Company
Article Date
2/28/2017Hallador Energy Company Declares Quarterly Dividend
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
DENVER, Jan. 13, 2017 /PRNewswire/ -- (Nasdaq: HNRG) –The Board of Directors of Hallador Energy Company today declared a regular quarterly dividend of $.04 per share. The dividend is payable on February 17, 2017 to shareholders of record as of January 31, 2017.
Hallador is headquartered in Denver, Colorado and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador or Sunrise, visit our websites at www.halladorenergy.com or www.sunrisecoal.com.
SOURCE Hallador Energy Company
Article Date
1/14/201710/17/2016 - Hallador Energy Company Declares Quarterly Dividend and Announces 3rd Quarter Earnings Release and Conference Call
Hallador Energy Company Declares Quarterly Dividend and Announces 3rd Quarter Earnings Release and Conference Call
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
DENVER, Oct. 17, 2016 /PRNewswire/ -- (Nasdaq: HNRG) – The board of directors of Hallador Energy Company today declared a regular quarterly dividend of $.04 per share. The dividend is payable on November 18, 2016 to shareholders of record as of October 31, 2016.
Hallador will release its third quarter financial results on Form 10-Q after the market closes on Friday, November 4, 2016. Management will host a conference call for investors and analysts on Monday, November 7, 2016, at 2:00 p.m. ET (12:00 p.m. MT) to discuss the results. A copy of the Form 10-Q will be available for download or viewing on our website, www.halladorenergy.com, under "SEC Filings" on the Financial Information tab.
To participate in the conference call, please dial:
|
Domestic Callers Toll-free (888) 347-5317 |
|
Canadian Callers Toll-free (855) 669-9657 |
|
Conference ID #: Hallador Energy Company HNRG Call |
In addition, a live webcast will be available on the company's website under the Webcast section. A replay of the webcast will be available shortly after the call and a transcript will be posted on the company's website by Friday, November 11th.
Hallador is headquartered in Denver, Colorado and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador or Sunrise, visit our websites at www.halladorenergy.com or www.sunrisecoal.com.
Logo - http://photos.prnewswire.com/prnh/20140701/123887
SOURCE Hallador Energy Company
Article Date
10/17/20167/25/2016 - Hallador Energy Company Announces Second Quarter 2016 Earnings Release and Conference Call
Hallador Energy Company Announces Second Quarter 2016 Earnings Release and Conference Call
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
DENVER, July 25, 2016 /PRNewswire/ -- (NASDAQ: HNRG) – Hallador Energy Company announced it will release its second quarter 2016 financial results after the market closes on Friday, August 5, 2016. A conference call will be held on Monday, August 8, 2016 at 4:00 p.m. Eastern Time (2:00 p.m. Mountain Time); it will also be carried on the Company's website.
|
Conference Call Numbers: | |
|
U.S. Toll Free: |
(888) 347-5317 |
|
Canada Toll Free: |
(855) 669-9657 |
|
International: |
(412) 317-5121 |
|
Conference Call Name: |
Hallador Energy Company HNRG Call |
|
Conference Replay Numbers through August 15, 2016: | |
|
U. S. Toll Free: |
(877) 344-7529 |
|
Canada Toll Free: |
(855) 669-9658 |
|
Replay Access Code: |
10090511 |
A live audio webcast of the conference call will be accessible on the Company's website, under "Webcasts" and a transcript will be available a few days after the call.
Hallador is headquartered in Denver, Colorado and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador or Sunrise, visit www.HalladorEnergy.com or www.SunriseCoal.com.
Logo - http://photos.prnewswire.com/prnh/20140701/123887
SOURCE Hallador Energy Company
Article Date
7/25/2016Hallador Energy Company Declares Quarterly Dividend
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
DENVER, July 19, 2016 /PRNewswire/ -- (NASDAQ: HNRG) – Today Hallador Energy Company declared a regular quarterly dividend of $.04 per share. The dividend is payable on August 12, 2016 to shareholders of record as of July 29, 2016.
Hallador is headquartered in Denver, Colorado and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador or Sunrise, visit our websites at www.halladorenergy.com or www.sunrisecoal.com.
Logo - http://photos.prnewswire.com/prnh/20140701/123887
SOURCE Hallador Energy Company
Article Date
7/19/2016Hallador Energy Company Declares Quarterly Dividend and Announces First Quarter Earnings Release and Conference Call
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
DENVER, April 18, 2016 /PRNewswire/ -- (NASDAQ: HNRG) – Today Hallador Energy Company declared a regular quarterly dividend of $.04 per share. The dividend is payable on May 13, 2016 to shareholders of record as of April 29, 2016.
Hallador will release its first quarter financial results on Form 10-Q after the market closes on Friday, May 6, 2016. Management will host a conference call for the investment community on Monday, May 9, at 2:00 p.m. EDT (12:00 p.m. MDT) to discuss the results. The call-in numbers are:
|
U.S. Toll Free: |
(888) 347-5317 |
|
Canada Toll Free: |
(855) 669-9657 |
|
International: |
(412) 317-5121 |
|
Conference Call Name: |
Hallador Energy Company HNRG Call |
A live audio webcast of the conference call will be accessible on our website under Webcasts.
A taped replay of the conference call will be available until May 16, 2016. Dial (877) 344-7529 (domestic) or (855) 669-9658 (Canada) and enter pass code 10084892.
Additionally, a replay of the audio webcast will be available one hour after the call. A transcript will be posted on our website a few days after the call.
Hallador is head quartered in Denver, Colorado and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador or Sunrise, visit our websites at www.halladorenergy.com or www.sunrisecoal.com.
Logo - http://photos.prnewswire.com/prnh/20140701/123887
SOURCE Hallador Energy Company
Article Date
4/18/20163/22/2016 - Sunrise Coal Closes Purchase of Coal Sales Agreements and Coal Reserves from Triad Mining
Sunrise Coal Closes Purchase of Coal Sales Agreements and Coal Reserves from Triad Mining
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
DENVER, March 22, 2016 /PRNewswire/ -- (NASDAQ: HNRG) – Today, Hallador Energy Company's wholly owned subsidiary, Sunrise Coal, LLC (Sunrise), completed the purchase of certain underground coal reserves and a coal sales agreement associated with Triad Mining, LLC's (Triad) Freelandville mining complex. Triad is a wholly owned subsidiary of Blackhawk Mining, LLC based in Lexington, Kentucky. The Freelandville complex is located in Sullivan and Knox Counties, Indiana. As part of the transaction, Sunrise is purchasing more than 14 million tons of proven and probable leased and owned coal reserves and associated advanced royalties in addition to rights under a coal sales agreement that extends through 2017. In consideration for the sale, Triad will receive $18.25 million.
The table below reflects contracted sales positions for the next four years and includes coal sales purchased from Triad in addition to new sales made since filing our 10-K on March 11, 2016. All sales will be shipped from the Oaktown, Carlisle or Ace in the Hole mines.
|
Minimum Tons To Be Sold |
Maximum Tons To Be Sold |
Average | ||||||||
|
Priced |
(Unpriced) |
Total |
Priced |
(Unpriced) |
Total |
Estimated | ||||
|
Year |
Tons |
Tons |
Tons |
Tons |
Tons |
Tons |
Prices | |||
|
2016 |
5,972 |
- |
5,972 |
6,186 |
- |
6,186 |
$ 43.08 | |||
|
2017 |
4,175 |
389 |
4,564 |
5,985 |
581 |
6,566 |
$ 42.87 | |||
|
2018 |
1,560 |
1,199 |
2,759 |
2,210 |
1,791 |
4,001 |
$ 44.03 | |||
|
2019 |
1,300 |
2,009 |
3,309 |
1,550 |
3,001 |
4,551 |
$ 44.55 | |||
All reserves purchased in the transaction are contiguous to the Oaktown 1 Mine reserve and will be mined from the Oaktown 1 Mine portal. The purchase of the Freelandville reserves grants Sunrise access to tons they already controlled but did not previously include in their reserve base. Thus, Oaktown 1 Mine reserves increase as follows:
|
Oaktown 1 Controlled Reserves | ||||||
|
Proven |
Probable |
Total | ||||
|
As of 3/21/16 |
28.0 |
12.6 |
40.6 | |||
|
As of 3/22/16 |
38.5 |
17.9 |
56.4 | |||
Hallador's President and CEO, Brent Bilsland, stated, "This transaction increases our reserve base at our lowest cost mine and creates a solid foundation of sales going forward. We feel this investment ensures the low cost position of the Oaktown mine and solidifies the employment of our dedicated miners."
Hallador is headquartered in Denver, Colorado and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador or Sunrise, visit our websites at www.halladorenergy.com or www.sunrisecoal.com.
Logo - http://photos.prnewswire.com/prnh/20140701/123887
SOURCE Hallador Energy Company
Article Date
3/22/20163/11/2016 - Hallador Energy Reports 2015 Results
Hallador Energy Reports 2015 Results
Source: PR Newswire
DENVER, March 11, 2016 /PRNewswire/ -- Hallador Energy Company (NASDAQ: HNRG) today reported financial and operating results for the year ended December 31, 2015.
Highlights include:
"Despite the many headwinds of 2015, Hallador generated record amounts of cash. This enabled us to focus on our main goal of reducing debt," said Brent Bilsland, our CEO. "I am very proud of the fact that in the 16 months post purchasing the Oaktown mines, we have reduced our bank debt by $100 million. During the next few weeks we expect to execute an amendment to our credit agreement's covenants that will increase our liquidity, enabling us to weather the slowdown in the coal industry, as more fully explained in our 2015 Form 10-K which was filed concurrently with this release. "
EBITDA, adjusted EBITDA and adjusted free cash flow are supplemental measures of financial performance that are not required by, or presented in accordance with GAAP. These measures have limitations as analytical tools and should not be considered in isolation from, or as a substitute for, analysis of our results as reported under GAAP.
Conference Call
As previously announced our earnings conference call for financial analysts and investors will be held on Monday, March 14, 2016 at 2:00pm EST. Dial-in numbers for the live conference call are as follows:
|
U.S. Toll Free: |
888-317-6016 |
|
Canada Toll Free: |
855-669-9657 |
|
Conference Title: |
Hallador Energy Company HNRG Call |
|
Webcast URL: |
www.halladorenergy.com under Webcasts |
Following the live webcast, a replay will be available at the same URL on our website for seven days. A telephonic replay will also be available approximately two hours after the call and accessed by dialing (877) 344-7529 (domestic) or (855) 669-9658 (Canada) and entering pass code 10082203. The telephonic replay will be available for seven days; a transcript will be available on our website at www.halladorenergy.com, under Presentations.
Hallador is headquartered in Denver, Colorado and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador or Sunrise, visit our websites at www.halladorenergy.com or www.sunrisecoal.com.
Logo - http://photos.prnewswire.com/prnh/20140701/123887
SOURCE Hallador Energy Company
Article Date
3/11/2016Hallador Energy To Discuss 2015 Results On Monday, March 14th
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
DENVER, March 8, 2016 /PRNewswire/ -- Hallador Energy (NASDAQ: HNRG) plans to release its 2015 financial results on Friday, March 11th after the market close. Management will present the results during a telephone conference call for investors and analysts on Monday, March 14th at 2:00 p.m. ET (12:00 p.m. MT). This call will be webcast and available for replay on the Company's website for a limited time.
|
Dial-In Numbers: |
888-317-6016 (U.S.); toll free |
|
855-669-9657 (Canada); toll free | |
|
412-317-6016 (International) | |
|
Conference Title: |
Hallador Energy Company HNRG call |
|
Webcast URL: |
www.halladorenergy.com under Webcasts |
A copy of our 2015 Form 10-K will be available for download or viewing on our website, under the listing, "SEC Filings". Reference to such 10-K will be made during the call and you are encouraged to have such 10-K available either in hardcopy or online.
Hallador is headquartered in Denver, Colorado and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador or Sunrise, visit our websites at www.halladorenergy.com or www.sunrisecoal.com.
Logo - http://photos.prnewswire.com/prnh/20140701/123887
SOURCE Hallador Energy
Article Date
3/9/2016Hallador Energy Company Declares Quarterly Dividend
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
DENVER, Jan. 15, 2016 /PRNewswire/ -- (NASDAQ: HNRG) –The board of directors of Hallador Energy Company today declared a regular quarterly dividend of $.04 per share. The dividend is payable on February 12, 2016, to shareholders of record as of January 29, 2016.
Hallador is headquartered in Denver, Colorado, and through its wholly owned subsidiary, Sunrise Coal, LLC, produces coal in the Illinois Basin for the electric power generation industry. To learn more about Hallador or Sunrise, visit our websites at www.halladorenergy.com or www.sunrisecoal.com.
Logo - http://photos.prnewswire.com/prnh/20140701/123887
SOURCE Hallador Energy Company
Article Date
1/16/2016Projects & Assets
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