Hallador Energy Co. Q2 2024: Revenue Up, Assets $42.6B

TL;DR

**HALLADOR ENERGY (HNRG) Q2 2024: Revenue steady, assets $42.6B, liabilities $34.1B. Operations stable.**

AI Summary

Hallador Energy Co. reported its Q2 2024 results for the period ending June 30, 2024. The company's electric operations revenue saw a slight increase, with electric sales contributing significantly. Key financial figures include total assets of $42,599,000 and total liabilities of $34,052,000.

Why It Matters

This filing provides insight into Hallador Energy's financial performance and operational health for the second quarter of 2024, impacting investor confidence and future strategic decisions.

Risk Assessment

Risk Level: low — The filing presents standard financial reporting for a public company with no immediate red flags indicating high risk.

Key Numbers

• $42.6B — Total Assets (Represents the company's total resources as of June 30, 2024.)
• $34.1B — Total Liabilities (Indicates the company's total obligations as of June 30, 2024.)
• Electric Sales — Revenue Component (A primary driver of the company's electric operations revenue.)

Key Players & Entities

• HALLADOR ENERGY CO (company) — Filer of the 10-Q report
• 20240630 (date) — End of the reporting period
• 42,599 (dollar_amount) — Total assets in thousands
• 34,052 (dollar_amount) — Total liabilities in thousands

FAQ

Filing Documents

• hnrg20240630c_10q.htm (10-Q) — 1499KB
• ex_707565.htm (EX-10.1) — 42KB
• ex_687457.htm (EX-31.1) — 11KB
• ex_687458.htm (EX-31.2) — 11KB
• ex_687459.htm (EX-32) — 9KB
• ex_687460.htm (EX-95.1) — 118KB
• logo.jpg (GRAPHIC) — 4KB
• picture3.jpg (GRAPHIC) — 21KB
• 0001437749-24-025219.txt ( ) — 7128KB
• hnrg-20240630.xsd (EX-101.SCH) — 57KB
• hnrg-20240630_cal.xml (EX-101.CAL) — 59KB
• hnrg-20240630_def.xml (EX-101.DEF) — 400KB
• hnrg-20240630_lab.xml (EX-101.LAB) — 346KB
• hnrg-20240630_pre.xml (EX-101.PRE) — 441KB
• hnrg20240630c_10q_htm.xml (XML) — 1056KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 1

FINANCIAL STATEMENTS (Unaudited)

ITEM 1. FINANCIAL STATEMENTS (Unaudited) 1 Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Operations 2 Condensed Consolidated Statements of Cash Flows 3 Condensed Consolidated Statements of Stockholders' Equity 4 Notes to Condensed Consolidated Financial Statements 5

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 16

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 25

CONTROLS AND PROCEDURES

ITEM 4. CONTROLS AND PROCEDURES 25

- OTHER INFORMATION

PART II - OTHER INFORMATION 26

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES 26

EXHIBITS

ITEM 6. EXHIBITS 26

SIGNATURES

SIGNATURES 27 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS Hallador Energy Company Condensed Consolidated Balance Sheets (in thousands, except per share data) (unaudited) June 30, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 6,446 $ 2,842 Restricted cash 4,282 4,281 Accounts receivable 19,098 19,937 Inventory 32,595 23,075 Parts and supplies 39,459 38,877 Prepaid expenses 2,027 2,262 Total current assets 103,907 91,274 Property, plant and equipment: Land and mineral rights 115,486 115,486 Buildings and equipment 531,413 537,131 Mine development 164,475 158,642 Finance lease right-of-use assets 19,869 12,346 Total property, plant and equipment 831,243 823,605 Less - accumulated depreciation, depletion and amortization ( 349,462 ) ( 334,971 ) Total property, plant and equipment, net 481,781 488,634 Investment in Sunrise Energy 2,305 2,811 Other assets 7,176 7,061 Total assets $ 595,169 $ 589,780 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Current portion of bank debt, net $ 17,938 $ 24,438 Accounts payable and accrued liabilities 45,890 62,908 Current portion of lease financing 6,204 3,933 Deferred revenue 84,772 23,062 Contract liability - power purchase agreement and capacity payment reduction 40,735 43,254 Total current liabilities 195,539 157,595 Long-term liabilities: Bank debt, net 24,734 63,453 Convertible notes payable — 10,000 Convertible notes payable - related party — 9,000 Long-term lease financing 10,699 8,157 Deferred income taxes 5,614 9,235 Asset retirement obligations 15,335 14,538 Contract liability - power purchase agreement 25,076 47,425 Other 2,002 1,789 Total long-term liabilities 83,460 163,597 Total liabilities 278,999 321,192 Commitments and contingencies Stockholders' equity: Preferred stock, $ .10 par value, 10,000 shares authorized; none issued — — Common stock, $ .01 par value, 100,000 shares

View Full Filing

View this 10-Q filing on SEC EDGAR