---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-25-003147"
form_type: "8-K"
ticker: "HNRG"
cik: "0000788965"
company_name: "HALLADOR ENERGY CO"
filed_at: "2025-03-17T23:59:59+00:00"
generated_at: "2026-05-24T17:10:37.421073+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Hallador Q4 net loss $215.8M on $215M coal impairment; electric sales now 74% of revenue; debt halved to $44M

## Summary
- Q4 total revenue $94.2M (FY $404.4M); electric sales $69.7M (74% of total) vs $37.1M (31%) a year ago.
- Q4 net loss $215.8M includes $215M non-cash write-down at Sunrise Coal; FY net loss $226.1M vs FY23 net income $44.8M.
- Adjusted EBITDA Q4 $6.2M (up ~3x YoY); FY $16.8M vs $107.4M prior year.
- Bank debt reduced to $44M at Dec 31, 2024 from $91.5M a year earlier; liquidity $37.8M.
- Signed exclusive commitment with data center developer (Jan 2, 2025) for majority power output; partner committed up to $5M through early June 2025.

## SEC filing metadata
- accession: 0001558370-25-003147
- form_type: 8-K
- ticker: HNRG
- cik: 0000788965
- company_name: HALLADOR ENERGY CO
- filed_at: 2025-03-17T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/788965/000155837025003147/0001558370-25-003147-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/788965/000155837025003147/hnrg-20250317x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-25-003147
- JSON: https://secwatch.observer/filing/0001558370-25-003147.json
- Plain text: https://secwatch.observer/filing/0001558370-25-003147.txt

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