earnings
confidence high
sentiment positive
materiality 0.75
Hallador Energy posts full-year 2022 net income $18.1M; revenue up 46% to $362M
HALLADOR ENERGY CO
- Net income $18.1M ($0.57/share) vs. net loss $3.8M in 2021; revenue $362M (+46% YoY).
- Average coal sales price rose to $45.64/ton from $39.51; estimated 2023 avg price $58.70/ton.
- Bank debt reduced to $85.2M from $111.7M; amended credit facility, $35M revolver converted to term debt, maturity extended to May 2024.
- Completed acquisition of Merom Generating Station (1-GW coal plant) in Oct 2022; captive demand for up to 40% of coal production from 2024.
- Signed 2.2M tons of new coal contracts at ~$125/ton; production potential of 7.5M tons in 2023.