Hallador Energy ( (HNRG) ) has released its Q3 earnings. Here is a breakdown of the information Hallador Energy presented to its investors.
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Hallador Energy Company is a vertically-integrated Independent Power Producer based in Terre Haute, Indiana, with core operations in electricity generation and coal production. In the third quarter of 2024, Hallador Energy reported a total revenue of $105 million and a net income of $1.6 million, marking a return to profitability after a challenging second quarter. The company also announced a significant milestone by signing a non-binding term sheet with a leading data center developer, aiming to supply power for over a decade. Key financial highlights include a 12% increase in total revenue driven by a 21% rise in electric sales, and a substantial reduction in bank debt to $23.5 million from $91.5 million at the end of 2023. The company has strengthened its balance sheet through a $60 million prepaid power purchase agreement, which has been used to pay down debt, positioning Hallador for potential growth opportunities. Looking forward, Hallador Energy is optimistic about capitalizing on the growing demand for energy and capacity, bolstered by Indiana’s favorable business climate and tax policies, although the completion of the proposed transaction with the data center developer remains subject to final agreements.
