Hallador Energy (NASDAQ:HNRG) Posts Earnings Results, Misses Estimates By $0.20 EPS

Hallador Energy (NASDAQ:HNRG) announced its quarterly earnings data on Monday. The energy company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.20), Zacks reports. The company had revenue of $101.51 million for the quarter, compared to the consensus estimate of $90.33 million. Hallador Energy had a negative net margin of 0.20% and a negative return on equity of 0.53%.

Here are the key takeaways from Hallador Energy’s conference call:

• Turtle Creek Gas project progress improved: Hallador expects total costs below $800 million, or roughly $1,700 per kW, with commercial operations targeted for the second half of 2028. Equipment is reportedly in good condition, shipment remains scheduled for September, and the MISO interconnection study is expected in mid-August.
• Hallador’s forward contracted revenue expanded substantially, with approximately $2.4 billion of segment-level commitments extending through 2040, including new long-term capacity agreements. Management also expects to sell additional Merom capacity and potentially energy before year-end.
• Second-quarter results were pressured by Merom’s scheduled outage, unplanned downtime during high-price periods, elevated purchased-power costs, and working-capital investment. Net loss was $15.2 million versus net income of $8.2 million a year earlier, while adjusted EBITDA was negative $2.9 million.
• Liquidity declined to $84.2 million at quarter-end, including $29 million of cash, while bank debt increased to $45 million after the company drew on its delayed-draw term loan. Hallador is evaluating equipment financing, project-level debt, and other structures for Turtle Creek with the goal of minimizing or avoiding equity dilution.

Hallador Energy Trading Up 1.7%

HNRG traded up $0.27 on Wednesday, hitting $15.91. 102,988 shares of the company’s stock traded hands, compared to its average volume of 815,016. The company’s 50 day simple moving average is $16.42 and its 200-day simple moving average is $17.34. The firm has a market cap of $749.84 million, a price-to-earnings ratio of 795.50 and a beta of 0.25. Hallador Energy has a one year low of $13.65 and a one year high of $24.70.

Insider Activity at Hallador Energy

In related news, Director Daniel Timothy Hudson acquired 10,000 shares of Hallador Energy stock in a transaction dated Monday, June 29th. The shares were purchased at an average price of $16.94 per share, for a total transaction of $169,400.00. Following the completion of the transaction, the director directly owned 15,000 shares in the company, valued at approximately $254,100. This represents a 200.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles Ray Iv Wesley bought 15,000 shares of the stock in a transaction dated Tuesday, June 16th. The stock was bought at an average cost of $16.69 per share, for a total transaction of $250,350.00. Following the acquisition, the director directly owned 338,469 shares of the company’s stock, valued at approximately $5,649,047.61. This represents a 4.64% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 35,000 shares of company stock valued at $589,170 over the last 90 days. 17.43% of the stock is currently owned by corporate insiders.

Institutional Trading of Hallador Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Hallador Energy by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,193 shares of the energy company’s stock valued at $187,000 after acquiring an additional 624 shares during the last quarter. Royal Bank of Canada increased its stake in Hallador Energy by 92.5% during the fourth quarter. Royal Bank of Canada now owns 1,413 shares of the energy company’s stock worth $27,000 after acquiring an additional 679 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Hallador Energy during the second quarter worth approximately $27,000. Price T Rowe Associates Inc. MD raised its position in Hallador Energy by 10.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,208 shares of the energy company’s stock valued at $347,000 after purchasing an additional 1,746 shares during the period. Finally, AQR Capital Management LLC raised its position in Hallador Energy by 1.9% during the first quarter. AQR Capital Management LLC now owns 103,534 shares of the energy company’s stock valued at $1,271,000 after purchasing an additional 1,950 shares during the period. 61.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Wall Street Zen raised shares of Hallador Energy from a “strong sell” rating to a “sell” rating in a report on Sunday, June 28th. Weiss Ratings reissued a “hold (c-)” rating on shares of Hallador Energy in a research note on Tuesday, August 4th. Finally, Northland Securities set a $28.00 price objective on shares of Hallador Energy in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.12.

Hallador Energy Company Profile

Hallador Energy Company is a coal producer and mine operator trading on NASDAQ under the symbol HNRG. The company’s primary business activities center on the production and sale of bituminous thermal coal. Hallador’s operations encompass two surface mines: the Shoal Creek Mine located in southwestern Indiana and the Bull Mountain Mine situated in eastern Montana. Both sites are designed to extract high-quality coal reserves for the power generation market.

Hallador Energy markets its coal primarily to electric utilities and industrial customers across the United States.