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Hallador Energy Co (HNRG) SEC Filing 10-Q Quarterly report for the period ending Sunday, June 30, 2019

Hallador Energy Co

CIK: 788965 Ticker: HNRG



EXHIBIT 99.1



hnrg-20180806xex99_1g001.jpg



Press Release





HALLADOR ENERGY REPORTS 2019 1st QUARTER RESULTS OF $.23 PER SHARE CITING INCREASED COAL VOLUMES AND REVENUE





DENVER, May 6, 2019 - Hallador Energy Company (Nasdaq: HNRG) reports financial and operating results for the quarter ended March 31, 2019

.   Hallador filed its Form 10-Q after the markets closed today.



Brent Bilsland, President and Chief Executive Officer, commented, “Hallador generated $14.7MM in Adjusted Free Cash Flow in the 1st quarter of 2019.  Considering that these results came from a company with a ~$150MM market cap and is 79% sold out for the next four years, represents exceptional value.” 



Highlights for the quarter include:



·

Q1 2019 NET INCOME UP 228% VS. Q1 2018



o

$7.0 million, $0.23 per share for the quarter ended March 31, 2019.



·

GROWING CUSTOMER BASE HAS LED TO 25% INCREASE IN COAL VOLUMES Q1 2019 VS. Q1 2018



o

Throughout 2018 and 1st Quarter 2019, our Sunrise Coal subsidiary grew from 9 customers in 3 states to 17 customers in 8 states.  This growth in customers has increased our sales volume from 6.6 million tons in 2017 to a projected 8.2 million tons in 2019.



o

2.1 million tons of coal sold in Q1 2019, up from 1.7 million tons in Q1 2018



·

79% SOLD FOR 4 YEARS = GREAT FREE CASH FLOW VISABILITY



o

Sunrise coal continued to make sales during the quarter.  When looking at 2019 through 2022, 25.3 million tons are sold.  Thus, ~79% of our sales are contracted over the next four years at our new ~8.0 million-ton annualized pace.



·

THE STATE OF INDIANA HAS CHOSEN COAL



o

On April 24, 2019, the Indiana Utility Regulatory Commission (IURC) approved an Indiana utility’s request to upgrade environmental controls at a power plant we serve.  Additionally, the IURC denied the same utility’s request to close three coal units we serve and replace them with new combined cycle gas facilities.



·

We believe, the IURC’s decision is a material statement demonstrating that existing coal plants are lower cost than new natural gas plants in Indiana.



o

Furthermore, out of concern for the trend of increasing electricity rates, the Indiana legislature created a committee to study Indiana’s energy policy and release their findings by December 2020.


The following information was filed by Hallador Energy Co (HNRG) on Wednesday, May 8, 2019 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
Consolidated Balance Sheet (Parentheticals)
Consolidated Balance Sheets
Consolidated Statement Of Cash Flows
Consolidated Statement Of Comprehensive Income
Consolidated Statement Of Stockholders' Equity
Consolidated Statements Of Comprehensive Income (Parentheticals)
Accounts Payable And Accrued Liabilities
Accounts Payable And Accrued Liabilities (Schedule Of Accounts Payable And Accrued Liabilities) (Details)
Accounts Payable And Accrued Liabilities (Tables)
Asset Impairment Review
Asset Impairment Review (Narrative) (Details)
Bank Debt
Bank Debt (Amended Credit Facility Maximum Leverage Ratio) (Details)
Bank Debt (Narrative) (Details)
Bank Debt (Schedule Of Debt) (Details)
Bank Debt (Schedule Of Future Maturities) (Details)
Bank Debt (Tables)
Equity Method Investments
Equity Method Investments (Narrative) (Details)
General Business
General Business (Narrative) (Details)
General Business (Policy)
Hourglass Sands
Hourglass Sands (Condensed Balance Sheet) (Details)
Hourglass Sands (Condensed Statement Of Operations) (Details)
Hourglass Sands (Narrative) (Details)
Hourglass Sands (Tables)
Income Taxes
Income Taxes (Narrative) (Details)
Leases
Leases (Narrative) (Details)
Leases (Schedule Of Future Minimum Lease Payments And Balance Sheet Locations) (Details)
Leases (Schedule Of Information Related To Leases) (Details)
Leases (Tables)
Net Income (Loss) Per Share
Net Income (Loss) Per Share (Details)
Net Income (Loss) Per Share (Tables)
Other Assets
Other Assets (Schedule Of Other Assets) (Details)
Other Assets (Tables)
Other Income
Other Income (Details)
Other Income (Tables)
Restricted Stock Units (Rsus)
Restricted Stock Units (Rsus) (Narrative) (Details)
Restricted Stock Units (Rsus) (Restricted Stock Unit Vesting) (Details)
Restricted Stock Units (Rsus) (Schedule Of Restricted Stock Units) (Details)
Restricted Stock Units (Rsus) (Tables)
Revenue
Revenue (Narrative) (Details)
Self Insurance
Self Insurance (Details)
Subsequent Events
Subsequent Events (Narrative) (Details)
Ticker: HNRG
CIK: 788965
Form Type: 10-Q Quarterly Report
Accession Number: 0001558370-19-007102
Submitted to the SEC: Mon Aug 05 2019 1:28:28 PM EST
Accepted by the SEC: Mon Aug 05 2019
Period: Sunday, June 30, 2019
Industry: Bituminous Coal And Lignite Mining

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