Hallador Energy's Q3 revenue beats estimates
HNRG•HNRG•HNRG•HNRG•Hallador Energy's Q3 revenue fell 11% year over year to $130.25 million, beating the $118.25 million estimate, while adjusted EBITDA of $17.29 million missed estimates. The company secured new financing and raised contracted forward sales to $3.0 billion, up 26% from Q2.
Hallador Energy attributed its 11% year-over-year revenue decline primarily to lower third-party coal sales. Adjusted EBITDA was $17.29 million, below the $18.26 million estimate, and the company reported a $4.50 million net loss. Merom generation increased 77% quarter over quarter after a major maintenance outage ended in July, while higher delivered energy sales lifted revenue 28% quarter over quarter.
The company secured new financing and increased contracted forward sales to $3.0 billion, up 26% from Q2. Hallador targets a final investment decision on the Turtle Creek project before the end of 2026 and expects it to reach commercial operation in the second half of 2028. Contract pricing steps up materially beginning in 2027.
