secwatch.observer — SEC 8-K summary
======================================

Issuer:     HALLADOR ENERGY CO (HNRG)
CIK:        0000788965
Form:       8-K
Filed at:   2026-03-12T23:59:59+00:00
Accession:  0001104659-26-027176
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hallador FY2025 net income $41.9M vs -$226M loss; revenue up 16% to $469.5M
---------------------------------------------------------------------------

- Adjusted EBITDA tripled to $56.0M; operating cash flow +23% to $81.1M.
- Q4 net loss $0.2M on $102.4M revenue; Merom plant availability impacted.
- Bank debt reduced to $30M; new $120M 3-year credit facility closed.
- Forward contracted revenue $866.9M through 2029; $1.3B total commitments.
- MISO accepted ERAS application for 515MW gas expansion; $14M deposit paid.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/788965/000110465926027176/0001104659-26-027176-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/788965/000110465926027176/hnrg-20260312x8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-027176

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer