Hallador posts Q3 net income of $1.6M; pays down 34% of bank debt, signs higher-priced coal contracts

HALLADOR ENERGY CO

2023-Q3 EPS reported -$0.38 revenue$209,920,000

Net income $1.6M ($0.05 EPS); adjusted EBITDA $18.4M on revenue of $85M.
Bank debt reduced by $44M (34%) since Q2 to $87M; includes $17M in Q3 and $27M from Merom acquisition proceeds.
Average coal price rose to $49.01/ton in Q3 vs $38.71/ton in Q3 2021; 1.7M tons sold.
Contracted 2.2M tons at ~$125/ton for future delivery; projects net debt-free in 2023.
Completed Merom Generating Station acquisition on Oct 21, receiving net $34M and diversifying revenue.

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