---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-25-007392"
form_type: "8-K"
ticker: "HNRG"
cik: "0000788965"
company_name: "HALLADOR ENERGY CO"
filed_at: "2025-05-12T23:59:59+00:00"
generated_at: "2026-05-22T00:56:48.936833+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Hallador Q1 2025 net income $10M vs loss; revenue up 6% to $117.8M

## Summary
- Net income $10.0M ($0.23 EPS) vs Q1 2024 loss of $1.7M; Adjusted EBITDA $19.3M (3x YoY).
- Total revenue $117.8M (+6% YoY); electric sales $85.9M (73% of revenue mix).
- Operating cash flow $38.4M; bank debt reduced to $23M from $44M at Dec 2024.
- Forward sales backlog $1.1B through 2029; contracted power revenue $630M.
- CEO notes data center developer negotiations ongoing; exclusivity through early June 2025.

## SEC filing metadata
- accession: 0001558370-25-007392
- form_type: 8-K
- ticker: HNRG
- cik: 0000788965
- company_name: HALLADOR ENERGY CO
- filed_at: 2025-05-12T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/788965/000155837025007392/0001558370-25-007392-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/788965/000155837025007392/hnrg-20250512x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-25-007392
- JSON: https://secwatch.observer/filing/0001558370-25-007392.json
- Plain text: https://secwatch.observer/filing/0001558370-25-007392.txt

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