---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-093446"
form_type: "8-K"
ticker: "HNRG"
cik: "0000788965"
company_name: "HALLADOR ENERGY CO"
filed_at: "2026-08-10T21:00:26+00:00"
generated_at: "2026-08-10T21:02:09.350018+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Hallador Q2 net loss $15.2M; Turtle Creek budget cut to <$800M, COD H2 2028

## Summary
- Q2 revenue $101.5M vs $102.8M; net loss $15.2M vs income $8.2M; adj EBITDA -$2.9M vs +$3.4M.
- Turtle Creek gas project budget reduced to <$800M (~$1,700/kW); COD targeted H2 2028; FID expected Sept 2026.
- Contracted forward sales $1.8B consolidated, $2.4B segment through 2040, incl. accredited capacity to 2040.
- Drew $45M delayed draw term loan; total bank debt $45M at June 30, 2026; liquidity $84.2M.
- Q2 capex $26.3M vs $13.1M YoY, driven by reliability upgrades and Turtle Creek expenditures.

## SEC filing metadata
- accession: 0001104659-26-093446
- form_type: 8-K
- ticker: HNRG
- cik: 0000788965
- company_name: HALLADOR ENERGY CO
- filed_at: 2026-08-10T21:00:26+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/788965/000110465926093446/0001104659-26-093446-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/788965/000110465926093446/hnrg-20260810x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-093446
- JSON: https://secwatch.observer/filing/0001104659-26-093446.json
- Plain text: https://secwatch.observer/filing/0001104659-26-093446.txt

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