Hallador Energy Q2 Revenue Beats, But EBITDA Misses on Higher Costs
HNRG is trading near its 52-week low of $13.65 (9.7% above the low) on elevated volume (2.7× avg).
Summary
Hallador Energy reported Q2 revenue of $101.5M, beating the $92.74M consensus, but adjusted EBITDA swung to a loss of $2.9M, missing the $5.68M estimate. Higher maintenance costs from a planned outage at Merom Unit 1 and unplanned downtime at Unit 2 drove the miss, partially offset by stronger capacity revenue and coal sales. The company also pushed the Turtle Creek Gas commercial operation target to H2 2028 and disclosed $2.4B in contracted forward sales through 2040. This follows a transformative period including a $450M turbine acquisition and a new $1B capacity agreement, but the EBITDA miss and delayed gas project raise near-term execution concerns. The stock, trading at 20x forward earnings, faces pressure from the operational shortfall despite long-term revenue visibility.
Updates
· SEC 8-K — Turtle Creek total project cost now expected below $800 million, or about $1,700/kW, with commercial operation targeted for H2 2028. Contracted forward sales at segment level total $2.4 billion through 2040.
At the time of this announcement, HNRG was trading at $14.98 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $748.4M. The 52-week trading range was $13.65 to $24.70. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.