---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-056345"
form_type: "8-K"
ticker: "HNRG"
cik: "0000788965"
company_name: "HALLADOR ENERGY CO"
filed_at: "2026-05-06T23:59:59+00:00"
generated_at: "2026-05-14T23:03:50.839562+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Hallador reports Q1 net loss $9.3M; signs $1B+ capacity agreement through 2040

## Summary
- Q1 total revenue $101.8M, down from $117.7M YoY; net loss $9.3M vs net income $10.0M.
- Adjusted EBITDA $5.5M vs $19.3M YoY; operating cash flow $20.5M.
- Signed 12-year capacity agreement (2028-2040) for >$1B revenue at >2x historical pricing.
- No bank debt at March 31, 2026; total liquidity $97.5M after new credit facility.
- Forward sales book nearly doubled; total forward commitments ~$1.2B through 2029 (excl. new deal).

## SEC filing metadata
- accession: 0001104659-26-056345
- form_type: 8-K
- ticker: HNRG
- cik: 0000788965
- company_name: HALLADOR ENERGY CO
- filed_at: 2026-05-06T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/788965/000110465926056345/0001104659-26-056345-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/788965/000110465926056345/hnrg-20260506x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-056345
- JSON: https://secwatch.observer/filing/0001104659-26-056345.json
- Plain text: https://secwatch.observer/filing/0001104659-26-056345.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.