Hallador Energy (NASDAQ:HNRG) Releases Quarterly Earnings Results

Hallador Energy (NASDAQ:HNRG) released its quarterly earnings results on Monday. The energy company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.18), FiscalAI reports. The firm had revenue of $130.25 million during the quarter, compared to analyst estimates of $118.25 million. Hallador Energy had a negative net margin of 0.20% and a negative return on equity of 0.52%.

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

• Merom generated more than 1.4 million MWh in the quarter, and availability reached 80% in August and September after its major maintenance outage. Hallador said it is investing in reliability as energy and capacity prices rise; about 95% of Merom’s accredited capacity is contracted through 2035, with blended capacity and energy prices increasing to $59/MWh in 2027.
• Third-quarter results weakened year over year: revenue fell to $130.3 million from $146.6 million, Hallador recorded a $4.5 million net loss versus net income of $23.9 million, and adjusted EBITDA declined to $17.3 million from $24.9 million. Operating cash flow was negative $21.8 million, with higher power-purchase costs contributing to the EBITDA decline.
• Hallador is targeting a final investment decision on Turtle Creek before year-end and commercial operation in the second half of 2028; the turbines have been exported and the MISO interconnection study is complete. Management estimates the roughly $800 million project could reach about $1.6 billion in value after contracting and construction, but this is an estimate, not guidance.
• Turtle Creek still lacks a signed offtake agreement and executed interconnection agreement, and Hallador has not secured all the additional capital needed. The $600 million construction facility includes $550 million funded at closing, carries a 3.5% cash interest rate on drawn funds, and management expects reported losses to widen before the plant operates; the company may use additional debt, equity, project financing, or a partial asset sale.

Hallador Energy Price Performance

Shares of NASDAQ HNRG opened at $10.59 on Tuesday. The stock has a market capitalization of $499.21 million, a price-to-earnings ratio of 480.50 and a beta of 0.47. The business has a 50-day moving average of $13.50 and a 200-day moving average of $16.28. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.72 and a quick ratio of 0.24. Hallador Energy has a fifty-two week low of $8.85 and a fifty-two week high of $24.70.

Key Headlines Impacting Hallador Energy

Here are the key news stories impacting Hallador Energy this week:

• Positive Sentiment: Revenue was $130.3 million, above analysts’ $118.25 million estimate. Adjusted EBITDA improved to $17.3 million from a loss in the prior quarter, as Merom generation rebounded after planned maintenance. Hallador Energy Q3 2026: Revenue Beat, EPS Miss, and a $600M Gas Bet
• Positive Sentiment: Hallador’s contracted forward sales rose 26% from the previous quarter to approximately $3.0 billion. The company is targeting a year-end final investment decision for its 460-megawatt Turtle Creek natural-gas project and expects commercial operations in the second half of 2028. Hallador Reports Q3 2026 Results
• Negative Sentiment: The company posted a $4.5 million net loss, or $0.10 per diluted share, compared with $23.9 million in net income a year earlier. Its loss per share missed the provided analyst consensus of $0.08 in earnings, and revenue was down 11% year over year—likely the main near-term headwind for HNRG. Hallador Reports Q3 Revenue and Net Loss
• Negative Sentiment: Quarter-end debt was $551.9 million, and liquidity was $103.2 million. Although Hallador has a $600 million construction bridge loan facility for Turtle Creek, the project’s financing needs and execution risk remain important considerations for investors. Hallador Q3 financial update

Wall Street Analysts Forecast Growth

HNRG has been the subject of a number of research reports. Weiss Ratings downgraded Hallador Energy from a “hold (c-)” rating to a “sell (d-)” rating in a report on Tuesday, August 18th. Zacks Research cut Hallador Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 12th. Northland Securities set a $27.00 price target on Hallador Energy in a research report on Tuesday, October 6th. Wall Street Zen cut shares of Hallador Energy from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Finally, Alliance Global Partners raised shares of Hallador Energy to a “strong-buy” rating in a research note on Friday, August 14th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.88.

Hallador Energy Company Profile

Hallador Energy Company (NASDAQ:HNRG) is an energy company focused primarily on the production and sale of thermal coal. Through its subsidiaries, the company operates coal mining assets in the Illinois Basin, supplying coal to electric power generators and other utility customers.

Hallador’s principal operations have included Sunrise Coal, which manages underground and surface mining activities in Indiana. The company’s coal products are used mainly for electricity generation, with sales serving utility markets in the Midwestern United States.

In addition to coal mining, Hallador has expanded into power generation through its ownership of the Merom Generating Station in Indiana.