Hallador Energy Files Q3 2024 10-Q

TL;DR

Hallador Energy's Q3 10-Q is in: shows retained earnings, paid-in capital, and details on a recent stock offering.

AI Summary

Hallador Energy Co. filed its 10-Q for the period ending September 30, 2024. The company's fiscal year ends on December 31st. Key financial data points include retained earnings and additional paid-in capital as of June 30, 2024, and September 30, 2024. The filing also references a credit agreement and an at-market offering managed by B. Riley Securities, Inc. during the third quarter of 2024.

Why It Matters

This filing provides investors with an update on Hallador Energy's financial position and recent capital-raising activities, offering insights into the company's operational and financial health.

Risk Assessment

Risk Level: medium — The filing details financial performance and capital-raising activities, which can indicate both opportunities and risks for investors.

Key Numbers

• 2024-09-30 — Reporting Date (End of the third fiscal quarter)
• 2024-06-30 — Previous Quarter End (End of the second fiscal quarter)

Key Players & Entities

• HALLADOR ENERGY CO (company) — Filer
• 20240930 (date) — Period of Report
• 20241112 (date) — Filing Date
• B. Riley Securities, Inc. (company) — Underwriter for at-market offering
• 2024-07-01 (date) — Start date of at-market offering period
• 2024-09-30 (date) — End date of at-market offering period

FAQ

Filing Documents

• hnrg-20240930x10q.htm (10-Q) — 2040KB
• hnrg-20240930xex10d2.htm (EX-10.2) — 1263KB
• hnrg-20240930xex31d1.htm (EX-31.1) — 9KB
• hnrg-20240930xex31d2.htm (EX-31.2) — 9KB
• hnrg-20240930xex32.htm (EX-32) — 6KB
• hnrg-20240930xex95d1.htm (EX-95.1) — 12KB
• hnrg-20240930x10q001.jpg (GRAPHIC) — 3KB
• hnrg-20240930x10q002.jpg (GRAPHIC) — 21KB
• hnrg-20240930xex95d1001.jpg (GRAPHIC) — 55KB
• hnrg-20240930xex95d1002.jpg (GRAPHIC) — 49KB
• hnrg-20240930xex95d1003.jpg (GRAPHIC) — 52KB
• 0001558370-24-015355.txt ( ) — 10028KB
• hnrg-20240930.xsd (EX-101.SCH) — 55KB
• hnrg-20240930_cal.xml (EX-101.CAL) — 76KB
• hnrg-20240930_def.xml (EX-101.DEF) — 189KB
• hnrg-20240930_lab.xml (EX-101.LAB) — 489KB
• hnrg-20240930_pre.xml (EX-101.PRE) — 372KB
• hnrg-20240930x10q_htm.xml (XML) — 1418KB

- 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 4 Condensed Consolidated Statements of Stockholders' Equity 5 Notes to Condensed Consolidated Financial Statements 6

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 20

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 31

CONTROLS AND PROCEDURES

ITEM 4. CONTROLS AND PROCEDURES 32

- OTHER INFORMATION

PART II - OTHER INFORMATION 33

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES 33

EXHIBITS

ITEM 6. EXHIBITS 33

SIGNATURES

SIGNATURES 34 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) September 30, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 3,829 $ 2,842 Restricted cash 5,812 4,281 Accounts receivable 11,908 19,937 Inventory 31,077 23,075 Parts and supplies 39,663 38,877 Prepaid expenses 5,964 2,262 Assets held-for-sale 1,544 1,611 Total current assets 99,797 92,885 Property, plant and equipment: Land and mineral rights 115,486 115,486 Buildings and equipment 529,818 537,131 Mine development 167,077 158,642 Finance lease right-of-use assets 19,869 12,346 Total property, plant and equipment 832,250 823,605 Less - accumulated depreciation, depletion and amortization ( 360,173 ) ( 334,971 ) Total property, plant and equipment, net 472,077 488,634 Investment in Sunrise Energy 2,071 2,811 Other assets 5,785 5,450 Total assets $ 579,730 $ 589,780 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Current portion of bank debt, net $ 24,095 $ 24,438 Accounts payable and accrued liabilities 42,915 62,908 Current portion of lease financing 6,248 3,933 Deferred revenue 57,293 23,062 Contract liability - power purchase agreement and capacity payment reduction 41,049 43,254 Total current liabilities 171,600 157,595 Long-term liabilities: Bank debt, net 42,918 63,453 Convertible notes payable — 10,000 Convertible notes payable - related party — 9,000 Long-term lease financing 9,234 8,157 Deferred income taxes 5,846 9,235 Asset retirement obligations 15,746 14,538 Contract liability - power purchase agreement 13,456 47,425 Other 2,133 1,789 Total long-term liabilities 89,333 163,597 Total liabilities 260,933 321,192 Commitments and contingencies Stockholders' equity: Preferred stock, $

View Full Filing

View this 10-Q filing on SEC EDGAR