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Hallador Energy Co (HNRG) SEC Filing 10-Q Quarterly Report for the period ending Thursday, September 30, 2021

SEC Filings

Hallador Energy Co

CIK: 788965 Ticker: HNRG

 EXHIBIT 99.1

 

Hallador Energy Company Reports Second Quarter 2021 Financial and Operating Results

 

 

TERRE HAUTE, Ind., August 9, 2021 -- Hallador Energy Company (NASDAQ – HNRG) today reported net loss of $3.0 million, ($.10) per share, adjusted EBITDA of $11.3 million. 

 

Brent Bilsland, President and Chief Executive Officer, stated, "We are experiencing one of the strongest and most dramatic market turn arounds we have seen in years.  As a result, we have added an additional 500,000 tons of contracted sales during the quarter and expect to ship ~1 million more tons in the last half of 2021 versus the first half, representing a 40% increase in shipments."

 

Below are highlights for the quarter and first six months of 2021:

 

 

 

Additional contracted sales of 500,000 tons added during the quarter.

 

 

Q2 2021, shipments improved to a 5.6 million-ton annualized pace from a 4.7 million-ton annualized pace in Q1 2021.  We expect shipments in the last half of 2021 to run at an ~7.0 million-ton annualized pace.

 

 

Hallador generated $6.4 million in Adjusted Free Cash Flow during the quarter. 

 

  As of June 30, 2021, our bank debt was $130.1 million, bringing our liquidity to $26.5 million resulting in a leverage ratio of 2.76X, well within our covenant of 3.25X.

 

 

Our entire $10 million PPP Loan was forgiven on July 23, 2021.  The forgiveness of the PPP Loan will be recognized during Q3 2021.

 

  Solid Sales Position Through 2022

 

 

We added ~500,000 contracted tons to our position during the quarter and expect to add tons later in the year for 2022 and beyond as markets recover and gas prices continue to increase.

 

 

 

Contracted

 

Estimated

 

 

 

Tons

 

Priced

 

Year

 

(millions)*

 

per ton

 

2021 (Q3- Q4)

 

3.6

 

               $39.00

 

2022

 

5.1

 

               $39.25

 

 

 

8.7

 

 

 

 

 

 

 

 

 

The following information was filed by Hallador Energy Co (HNRG) on Tuesday, August 10, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Hallador Energy Co's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets (Current Period Unaudited)
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Operations (Unaudited)
Condensed Consolidated Statements Of Stockholders' Equity (Unaudited)
Note 1 - General Business
Note 10 - Leases
Note 10 - Leases (Details Textual)
Note 10 - Leases (Tables)
Note 10 - Leases - Future Minimum Lease Payments (Details)
Note 10 - Leases - Information Related To Leases (Details)
Note 11 - Self-Insurance
Note 11 - Self-Insurance (Details Textual)
Note 12 - Net Income (Loss) Per Share
Note 12 - Net Income (Loss) Per Share (Tables)
Note 12 - Net Loss Per Share - Computation Of Net Income (Loss) Allocated To Common Shareholders (Details)
Note 13 - Fair Value Measurements
Note 13 - Fair Value Measurements (Details Textual)
Note 13 - Fair Value Measurements (Tables)
Note 13 - Fair Value Measurements - Change In Fair Value Of The Fuel Hedges And Interest Rate Swaps (Details)
Note 13 - Fair Value Measurements - Financial Assets And Liabilities Measured On A Recurring Basis At Fair Value (Details)
Note 14 - Equity Method Investments
Note 14 - Equity Method Investments (Details Textual)
Note 15 - Hourglass Sands
Note 15 - Hourglass Sands (Details Textual)
Note 2 - Long-Lived Asset Impairments
Note 2 - Long-Lived Asset Impairments (Details Textual)
Note 3 - Inventory
Note 3 - Inventory (Details Textual)
Note 4 - Other Long-Term Assets
Note 4 - Other Long-Term Assets (Tables)
Note 4 - Other Long-Term Assets - Other Long-Term Assets (Details)
Note 5 - Bank Debt
Note 5 - Bank Debt (Details Textual)
Note 5 - Bank Debt (Tables)
Note 5 - Bank Debt - Bank Debt, Less Debt Issuance Costs (Details)
Note 5 - Bank Debt - Maximum Leverage Ratio (Details)
Note 6 - Accounts Payable And Accrued Liabilities
Note 6 - Accounts Payable And Accrued Liabilities (Tables)
Note 6 - Accounts Payable And Accrued Liabilities - Accounts Payable And Accrued Liabilities (Details)
Note 7 - Revenue
Note 7 - Revenue 1 (Details Textual)
Note 7 - Revenue 2 (Details Textual)
Note 8 - Income Taxes
Note 8 - Income Taxes (Details Textual)
Note 9 - Stock Compensation Plans
Note 9 - Stock Compensation Plans (Details Textual)
Note 9 - Stock Compensation Plans (Tables)
Note 9 - Stock Compensation Plans - Rsu Activity (Details)
Note 9 - Stock Compensation Plans - Rsu Activity (Details) (Parentheticals)
Note 9 - Stock Compensation Plans - Vesting Of Non-Vested Rsu Grants (Details)
Significant Accounting Policies (Policies)
Ticker: HNRG
CIK: 788965
Form Type: 10-Q Quarterly Report
Accession Number: 0001437749-21-025710
Submitted to the SEC: Mon Nov 08 2021 4:21:02 PM EST
Accepted by the SEC: Mon Nov 08 2021
Period: Thursday, September 30, 2021
Industry: Bituminous Coal And Lignite Mining

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