{"id":826539,"date":"2025-03-17T16:12:54","date_gmt":"2025-03-17T20:12:54","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/hallador-energy-company-reports-fourth-quarter-and-full-year-2024-financial-and-operating-results\/"},"modified":"2025-03-17T16:12:54","modified_gmt":"2025-03-17T20:12:54","slug":"hallador-energy-company-reports-fourth-quarter-and-full-year-2024-financial-and-operating-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/hallador-energy-company-reports-fourth-quarter-and-full-year-2024-financial-and-operating-results\/","title":{"rendered":"Hallador Energy Company Reports Fourth Quarter and Full Year 2024 Financial and Operating Results"},"content":{"rendered":"
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\n – Q4 2024 Total Revenue of $94.2 Million; FY\u201924 Total Revenue of $404.4 Million\u00a0–
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\n – Q4 2024 Operating Cash Flow up Materially to $32.5 Million; FY\u201924 Operating Cash Flow of $65.9 Million –
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\n – Q4 2024 Adjusted EBITDA up ~3x YoY to $6.2 Million; FY\u201924 Adjusted EBITDA of $16.8 Million\u00a0–<\/em>\n <\/p>\n

TERRE HAUTE, Ind., March 17, 2025 (GLOBE NEWSWIRE) — Hallador Energy Company (Nasdaq: HNRG) (\u201cHallador\u201d or the \u201cCompany\u201d) today reported its financial results for the fourth quarter and full year ended December 31, 2024.<\/p>\n

\u201c2024 was a transformative year for Hallador as we continued our evolution from a bituminous coal producer to a vertically integrated independent power producer (\u201cIPP\u201d), while also advancing our products and services up the energy value chain,\u201d said Brent Bilsland, President and Chief Executive Officer. \u201cThis deliberate transition aligns with market trends and reflects our conviction in the superior economics of the IPP business model. In fall 2024, we reached an important milestone in our transformation by signing a non-binding term sheet with a leading global data center developer on a transaction that would, if completed, sell a majority of our power production and accredited capacity at enhanced margins for more than a decade to come. We are making meaningful progress toward finalizing definitive agreements for this transaction within the exclusivity period that runs from January through early June 2025, further strengthened by our partner\u2019s commitment to pay up to $5 million during this period. While navigating these complex transactions requires coordination across multiple stakeholders and while there can be no assurance that definitive agreements will be entered into, we remain encouraged by our partner\u2019s commitment and believe this strategic partnership will drive long-term value for our shareholders.\u201d<\/p>\n

\u201cThe ongoing industry shift from dispatchable generators, such as coal and natural gas, to non-dispatchable resources like wind and solar, has increased the value of our Hallador Power subsidiary due to the enhanced reliability, resilience and consistency that we provide over the less predictable non-dispatchables. At the same time, the retirement of coal-based generation has reduced demand for coal supply, impacting the value of our Sunrise Coal subsidiary. In anticipation of these market dynamics, we proactively reduced production volume and shifted our focus away from the higher cost coal reserves, which lowered our operational cash costs in the fourth quarter. These strategic actions along with lower long-term coal price projections resulted in a fourth-quarter non-cash write-down of Sunrise Coal\u2019s carrying value by approximately $215 million, which underscores the foresight of our transition to power generation in the coming years.\u201d<\/p>\n

Bilsland continued, \u201cLooking ahead, our focus remains on maximizing the value of our Merom Power Plant while actively pursuing opportunities to acquire additional dispatchable generators that can add durability, scale, and geographic expansion to our electric operations. Additionally, we are forging strong relationships with sophisticated counterparties to secure favorable collateral terms and effectively manage our forward power sales in 2025 and 2026, which we believe will enhance our financial flexibility in the short to medium term. During 2024, we also reduced our bank debt by more than 50% to $44 million at year-end. We are excited about our continued transformation from a commodity-focused coal producer to an IPP with a secure fuel supply, a strategy we believe will unlock expanding energy market margins, drive sustainable growth, and enhance cash flow generation for our shareholders.\u201d<\/p>\n

\n Fourth Quarter 2024 Highlights<\/strong>\n <\/p>\n