---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-013093"
form_type: "8-K"
ticker: "HNRG"
cik: "0000788965"
company_name: "HALLADOR ENERGY CO"
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T10:56:46.432055+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Hallador Energy Q1 2023 net income $22.1M, EPS $0.67; coal margins surge

## Summary
- Q1 revenue $188.3M (vs $58.9M in Q1 2022); net income $22.1M vs loss $10.1M a year ago.
- Coal margins $17.07/ton, up $6.66 from Q4 2022; average coal price $55.88/ton.
- Bank debt reduced $10M to $75.2M; debt/EBITDA ratio improved to 1.2x.
- Adjusted EBITDA $34.0M, up sharply from $2.6M in Q1 2022; operating cash flow $26.1M.
- Contracted 5.8M tons for 2023 at $57/ton; 7.5M tons contracted for 2024-2027.

## SEC filing metadata
- accession: 0001437749-23-013093
- form_type: 8-K
- ticker: HNRG
- cik: 0000788965
- company_name: HALLADOR ENERGY CO
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/788965/000143774923013093/0001437749-23-013093-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/788965/000143774923013093/hnrg20230207_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-013093
- JSON: https://secwatch.observer/filing/0001437749-23-013093.json
- Plain text: https://secwatch.observer/filing/0001437749-23-013093.txt

## Key facts
- Earnings Releases
  HALLADOR ENERGY CO reported quarter ended March 31, 2023 results: net income $22.1 million, EPS $.67 basic earnings per share.
  - Period: quarter ended March 31, 2023
  - Net income: $22.1 million
  - EPS: $.67 basic earnings per share
  - Result: reported results
  source text: Hallador Energy Company (NASDAQ – HNRG) today reported a net income of $22.1 million, $.67 basic earnings per share, and adjusted EBITDA of $34.0 million for the quarter ended March 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/788965/000143774923013093/0001437749-23-013093-index.htm

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