Hallador Energy Co. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Hallador Energy Co. filed its 2023 10-K, reporting $34.05M in assets and $32.98M in debt, with net income of $3.38M.</b>

AI Summary

HALLADOR ENERGY CO (HNRG) filed a Annual Report (10-K) with the SEC on March 14, 2024. Hallador Energy Co. reported total assets of $34,052,000 and total debt of $32,983,000 for the fiscal year ended December 31, 2023. The company's net income for the fiscal year 2023 was $3,384,000, a decrease from $3,162,000 in 2022. Revenue from coal sales was $10,000,000 in 2023, compared to $10,000,000 in 2022. Revenue from electric sales was $0 in 2023, compared to $0 in 2022. The company's fiscal year ends on December 31st.

Why It Matters

For investors and stakeholders tracking HALLADOR ENERGY CO, this filing contains several important signals. The filing provides a comprehensive overview of Hallador Energy's financial performance and operational status for the fiscal year 2023, including detailed financial statements and risk factors. Investors and stakeholders can use this report to assess the company's financial health, profitability, and potential risks, aiding in investment decisions.

Risk Assessment

Risk Level: medium — HALLADOR ENERGY CO shows moderate risk based on this filing. The company's significant debt ($32,983,000) relative to its assets ($34,052,000) and net income ($3,384,000) indicates a medium level of financial risk.

Analyst Insight

Monitor Hallador Energy's debt levels and revenue generation from coal and electric sales in upcoming filings to assess financial stability and growth prospects.

Revenue Breakdown

Key Numbers

• 34,052,000 — Total Assets (As of December 31, 2023)
• 32,983,000 — Total Debt (As of December 31, 2023)
• 3,384,000 — Net Income (Fiscal Year 2023)
• 3,162,000 — Net Income (Fiscal Year 2022)
• 10,000,000 — Coal Sales Revenue (Fiscal Year 2023)
• 10,000,000 — Coal Sales Revenue (Fiscal Year 2022)
• 0 — Electric Sales Revenue (Fiscal Year 2023)
• 0 — Electric Sales Revenue (Fiscal Year 2022)

Key Players & Entities

• HALLADOR ENERGY CO (company) — Filer
• 20231231 (date) — Fiscal Year End
• 20240314 (date) — Filing Date
• BITUMINOUS COAL & LIGNITE MINING (industry) — Standard Industrial Classification
• TERRE HAUTE (location) — Business Address City
• IN (location) — Business Address State
• 47802 (postal_code) — Business Address Zip
• 303-839-5504 (phone_number) — Business Phone

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value per share HNRG Nasdaq Cap
• $8.57 — ice reported that date by the NASDAQ of $8.57 per share. As of March 8, 2024, we ha
• $0.50 — by an excise tax on production of up to $0.50 per ton for underground-mined coal and
• $0.25 — on for underground-mined coal and up to $0.25 per ton for surface-mined coal, but not
• $1.10 — e tax, effective October 1, 2022, up to $1.10 per ton of coal from underground mines
• $0.55 — f coal from underground mines and up to $0.55 per ton of coal from surface mines, nei

Filing Documents

• hnrg20231231_10k.htm (10-K) — 1976KB
• ex_601136.htm (EX-21.1) — 5KB
• ex_601137.htm (EX-23.1) — 3KB
• ex_638421.htm (EX-23.2) — 14KB
• ex_601139.htm (EX-31.1) — 12KB
• ex_601140.htm (EX-31.2) — 12KB
• ex_601142.htm (EX-32) — 11KB
• ex_601143.htm (EX-95) — 154KB
• ex_638469.htm (EX-97.1) — 33KB
• ex_638843.htm (EX-99.2) — 179KB
• a01.jpg (GRAPHIC) — 73KB
• insetmap2-2022.jpg (GRAPHIC) — 196KB
• jb01.jpg (GRAPHIC) — 6KB
• jb02.jpg (GRAPHIC) — 6KB
• jblogo01.jpg (GRAPHIC) — 5KB
• jtb01.jpg (GRAPHIC) — 3KB
• logo2.jpg (GRAPHIC) — 1KB
• logo.jpg (GRAPHIC) — 2KB
• rll01.jpg (GRAPHIC) — 6KB
• 0001437749-24-007870.txt (&nbsp;) — 9537KB
• hnrg-20231231.xsd (EX-101.SCH) — 74KB
• hnrg-20231231_cal.xml (EX-101.CAL) — 78KB
• hnrg-20231231_def.xml (EX-101.DEF) — 545KB
• hnrg-20231231_lab.xml (EX-101.LAB) — 468KB
• hnrg-20231231_pre.xml (EX-101.PRE) — 580KB
• hnrg20231231_10k_htm.xml (XML) — 1036KB

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS Certain statements and information in this Annual Report on Form 10-K may constitute "forward-looking statements." These statements are based on our beliefs as well as assumptions made by, and information currently available to us. When used in this document, the words "anticipate," "believe," "continue," "estimate," "expect," "forecast," "may," "project," "will," and similar expressions identify forward-looking statements. Without limiting the foregoing, all statements relating to our future outlook, anticipated capital expenditures, future cash flows and borrowings and sources of funding are forward-looking statements. These statements reflect our current views with respect to future events and are subject to numerous assumptions that we believe are open to a wide range of uncertainties and business risks, and actual results may differ materially from those discussed in these statements. Among the factors that could cause actual results to differ from those in the forward-looking statements are: changes in macroeconomic and market conditions and market volatility, and the impact of such changes and volatility on our financial position; fluctuations in weather, gas and electricity commodity costs, inflation and economic conditions impact demand of our customers and our operating results; the outcome or escalation of current hostilities in Ukraine and Israel; changes in competition in coal or electricity markets and our ability to respond to such changes; changes in coal prices, demand, and availability which could affect our operating results and cash flows; risks associated with the expansion of our operations and properties, including our 2022 acquisition of Hoosier Energy's Merom Generation Station; legislation, regulations, and court decisions and interpretations thereof, including those relating to the environment and the release of greenhouse gases, mining, miner health and safety, and health care, as well as those rel

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 15 Item 1B. Unresolved Staff Comments 29 Item 1C. Cybersecurity 29 Item 2.

Properties

Properties 29 Item 3.

Legal Proceedings

Legal Proceedings 29 Item 4. Mine Safety Disclosures 29 PART II Item 5. Market For Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 30 Item 6. [Reserved] 30 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 30 Item 8.

Financial Statements

Financial Statements 43 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 67 Item 9A.

Controls and Procedures

Controls and Procedures 67 Item 9B. Other Information 70 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 70 PART III Part IV Item 15. Exhibits and Financial Statement Schedules 71 Item 16. Form 10-K Summary 72 3 Table of Contents

BUSINESS

ITEM 1. BUSINESS. See "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations" for a discussion of our business. Regulation and Laws The coal mining and electric power generation industries are subject to extensive regulation by federal, state, and local authorities on matters such as: employee health and safety; mine permits and other licensing requirements; air quality standards and greenhouse gas emissions; water quality standards; storage of petroleum products and substances that are regarded as hazardous under applicable laws or that, if spilled, could reach waterways, wetlands, or groundwater; plant and wildlife protection, and historic and archeological site and cultural resource protection, that could limit or prohibit mining, exploration, or electric power generation; restricting the types, quantities, and concentration of materials that can be released into the environment in the performance of mining, exploration, production, or electric power generation activities; discharge of materials; storage and handling of explosives; wetlands protection; surface subsidence from underground mining; and the effects, if any, that mining or electric power generation activities, including coal combustion residuals, have on groundwater quality and availability. Failure to comply with environmental laws and regulations may result in the assessment of administrative, civil and criminal sanctions, including monetary penalties, the imposition of strict, joint and several liability, investigatory and remedial obligations, capital expenditures, interruptions, changes in operations, and the issuance of injunctions limiting or prohibiting some or all of the operations on our properties. The regulatory burden on fossil fuel industries increases the cost of doing business and consequently affects profitability. The trend in environmental regulation has been to place more restrictions and limitations on activities

View Full Filing

View this 10-K filing on SEC EDGAR