Hallador Energy Co (HNRG) financial statements: income statement, balance sheet and cash flow
Hallador Energy Co's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Hallador Energy Co reported revenue of $469.5M (+16.1% year on year) and net income of $43.7M (+118.6% year on year).
Income statement
Hallador Energy Co income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Revenues
$459.4M
$399.0M
$897.8M
$355.6M
Other revenues
$10.1M
$5.4M
$4.6M
$6.4M
Total sales and operating revenues
$469.5M
$404.4M
$634.5M
$362.0M
Fuel
$63.9M
$49.3M
—
—
Other operating and maintenance costs
$129.2M
$118.4M
—
—
Cost of purchased power
$20.9M
$10.9M
—
—
Utilities
$16.8M
$15.9M
—
—
Labor
$110.7M
$116.2M
—
—
Depreciation, depletion and amortization
$41.2M
$65.6M
$67.2M
$46.9M
Asset retirement obligations accretion
$1.8M
$1.6M
$1.8M
$1.0M
Exploration costs
$216.0K
$260.0K
$904.0K
$651.0K
General and administrative
$26.2M
$26.5M
$26.2M
$16.4M
Gain on disposal or abandonment of assets, net
($2.5M)
($50.0K)
—
—
Asset impairment
$0
$215.1M
—
$0
Total operating expenses
$408.4M
$622.5M
$569.5M
$331.6M
INCOME FROM OPERATIONS
$61.1M
($218.2M)
$65.0M
$30.4M
Interest income
$602.0K
—
—
—
Loss on extinguishment of debt
($608.0K)
($2.8M)
($1.5M)
$0
Equity method investment (loss)
($450.0K)
($746.0K)
($552.0K)
$443.0K
NET INCOME (LOSS) BEFORE INCOME TAXES
$43.7M
($235.5M)
$49.3M
$19.9M
Deferred
$1.8M
($9.2M)
$4.6M
$1.8M
Total income tax expense (benefit)
$1.8M
($9.4M)
$4.5M
$1.8M
NET INCOME (LOSS)
$41.9M
($226.1M)
$44.8M
$18.1M
Basic (in dollar per share)
$0.98
-$5.72
$1.35
$0.57
Diluted (in dollar per share)
$0.96
-$5.72
$1.25
$0.55
Basic (in shares)
42.9M
39.5M
33.1M
32.0M
Diluted (in shares)
43.4M
39.5M
36.8M
33.6M
Interest on bank debt
$5.8M
$9.3M
$8.6M
$7.6M
Other interest
$9.1M
$2.8M
$1.8M
$715.0K
Amortization of debt issuance costs
$2.0M
$1.7M
$3.2M
$3.6M
Total interest expense
($16.9M)
($13.8M)
($13.7M)
($11.0M)
Hallador Energy Co income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Revenues
$100.1M
$100.2M
$144.5M
$98.1M
Other revenues
$1.4M
$1.6M
$2.4M
$4.8M
Total sales and operating revenues
$101.5M
$101.8M
$146.8M
$102.9M
Fuel
$15.5M
$15.0M
$27.1M
$15.1M
Other operating and maintenance costs
$39.1M
$29.2M
$44.4M
$29.0M
Cost of purchased power
$8.6M
$14.9M
$2.1M
$2.2M
Utilities
$4.0M
$3.3M
$4.5M
$4.5M
Labor
$28.8M
$27.4M
$27.6M
$26.8M
Depreciation, depletion and amortization
$9.9M
$10.6M
$9.1M
$5.5M
Asset retirement obligations accretion
$416.0K
$408.0K
$446.0K
$437.0K
Exploration costs
$287.0K
$84.0K
$38.0K
$98.0K
General and administrative
$7.6M
$6.9M
$4.8M
$7.5M
(Gain) loss on disposal or abandonment of assets, net
$15.0K
($201.0K)
($2.3M)
($55.0K)
Total operating expenses
$114.2M
$107.5M
$117.8M
$91.0M
INCOME (LOSS) FROM OPERATIONS
($12.7M)
($5.7M)
$29.1M
$11.9M
Interest income
$279.0K
$147.0K
—
—
Interest expense
($3.8M)
($4.0M)
($4.9M)
($3.8M)
Equity method investment (loss)
($244.0K)
($121.0K)
($248.0K)
$197.0K
NET INCOME (LOSS) BEFORE INCOME TAXES
($16.4M)
($9.8M)
$23.9M
$8.2M
Deferred
($1.2M)
($504.0K)
—
—
Total income tax expense (benefit)
($1.2M)
($504.0K)
—
—
NET INCOME (LOSS)
($15.2M)
($9.3M)
$23.9M
$8.2M
Basic (in dollar per share)
-$0.32
-$0.20
$0.56
$0.19
Diluted (in dollar per share)
-$0.32
-$0.20
$0.55
$0.19
Basic (in shares)
47.1M
46.5M
43.0M
42.6M
Diluted (in shares)
47.1M
46.5M
43.4M
43.0M
Interest on bank debt
$978.0K
$862.0K
$1.8M
$1.4M
Other interest
$2.3M
$2.8M
$2.6M
$1.9M
Amortization of debt issuance costs
$528.0K
$274.0K
$579.0K
$524.0K
Total interest expense
($3.8M)
($4.0M)
($4.9M)
($3.8M)
Balance sheet
Hallador Energy Co balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$10.1M
$7.2M
$2.8M
$3.0M
Restricted cash
$5.3M
$4.9M
$4.3M
$3.4M
Accounts receivable
$14.0M
$15.4M
$19.9M
$29.9M
Inventory
$42.5M
$36.7M
$23.1M
$49.8M
Parts and supplies
$45.9M
$39.1M
$38.9M
$28.3M
Prepaid expenses
$5.6M
$1.5M
$2.3M
$4.5M
Total current assets
$123.4M
$104.9M
$91.3M
$138.5M
Land and mineral rights
$70.0M
$70.3M
$115.5M
$115.6M
Buildings and equipment
$421.0M
$429.9M
$537.1M
$534.1M
Mine development
$102.3M
—
—
—
Construction work in process
$39.7M
$92.5M
$158.6M
$140.1M
Finance lease right-of-use assets
$12.6M
$13.0M
$12.3M
—
Total property, plant and equipment
$645.6M
$605.7M
$823.6M
$789.8M
Less - accumulated depreciation, depletion and amortization
($367.8M)
($348.0M)
($335.0M)
($309.4M)
Total property, plant and equipment, net
$277.8M
$257.7M
$488.6M
$480.5M
Equity method investments
$2.6M
$2.6M
$2.8M
$4.0M
Other assets
$4.2M
$4.0M
$7.1M
$7.6M
Total assets
$408.1M
$369.1M
$589.8M
$630.6M
Accounts payable and accrued liabilities
$41.8M
$44.3M
$62.9M
$83.0M
Current portion of lease financing
$7.4M
$6.9M
$3.9M
—
Contract liabilities - current
$103.3M
$97.6M
—
—
Total current liabilities
$152.6M
$152.9M
$157.6M
$239.6M
Bank debt, net
$29.7M
$37.4M
$63.5M
$49.7M
Long-term lease financing
$1.3M
$8.7M
$8.2M
—
Deferred income taxes
$1.8M
—
$9.2M
$4.6M
Asset retirement obligations
$15.2M
$15.0M
$14.5M
$17.3M
Contract liabilities - long-term
$45.7M
$49.1M
—
—
Other
$1.8M
$1.7M
$1.8M
$1.3M
Total long-term liabilities
$95.6M
$111.9M
$163.6M
$175.9M
Total liabilities
$248.2M
$264.8M
$321.2M
$415.5M
Common stock, $.01 par value, 100,000 shares authorized; 43,817 and 42,621 issued and outstanding, as of December 31, 2025 and December 31, 2024, respectively
438.0K
426.0K
341.0K
330.0K
Additional paid-in capital
$203.0M
$189.3M
$127.5M
$118.8M
Retained deficit
($43.6M)
($85.4M)
$140.7M
$95.9M
Total stockholders' equity
$159.8M
$104.3M
$268.6M
$215.0M
Total liabilities and stockholders' equity
$408.1M
$369.1M
$589.8M
$630.6M
Hallador Energy Co balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$29.0M
$36.8M
$12.7M
$9.2M
Restricted cash
$6.0M
$6.6M
$22.8M
$23.1M
Accounts receivable
$14.4M
$9.2M
$24.8M
$18.7M
Inventory
$47.8M
$47.2M
$28.0M
$43.6M
Parts and supplies
$51.3M
$47.9M
$44.0M
$42.8M
Prepaid expenses
$1.5M
$1.6M
$4.3M
$2.4M
Total current assets
$150.0M
$151.1M
$136.5M
$139.9M
Land and mineral rights
$70.0M
$70.0M
$70.0M
$70.3M
Buildings and equipment
$447.1M
$440.7M
$454.0M
$446.3M
Mine development
$102.3M
$102.3M
—
—
Construction work in progress
$58.0M
$35.8M
$99.9M
$96.8M
Finance lease right-of-use assets
$12.6M
$12.6M
$13.0M
$13.0M
Total property, plant and equipment
$689.9M
$661.3M
$636.9M
$626.4M
Less - accumulated depreciation, depletion and amortization
($384.6M)
($376.5M)
($370.9M)
($363.7M)
Total property, plant and equipment, net
$305.3M
$284.8M
$266.0M
$262.7M
Equity method investments
$2.3M
$2.5M
$2.7M
$2.9M
Operating lease right-of-use assets
$2.7M
$2.3M
—
—
Other noncurrent assets
$7.7M
$7.9M
$4.2M
$4.1M
Total assets
$468.0M
$448.6M
$409.5M
$409.5M
Current portion of bank debt, net
$3.7M
—
$42.7M
$17.1M
Accounts payable
$31.6M
$19.8M
—
—
Accrued liabilities and other
$33.0M
$35.1M
—
—
Current portion of lease financing
$3.8M
$5.0M
$7.4M
$7.2M
Contract liabilities - current
$136.5M
$130.2M
$113.2M
$132.9M
Total current liabilities
$208.7M
$190.0M
$207.3M
$209.3M
Bank debt, net
$39.2M
—
—
$26.0M
Long-term lease financing
$310.0K
$617.0K
$3.1M
$5.1M
Deferred income taxes
$165.0K
$1.3M
—
—
Asset retirement obligations
$16.1M
$15.6M
$16.3M
$15.8M
Contract liabilities - long-term
$10.0M
$32.1M
$34.4M
$29.2M
Other
$3.3M
$3.3M
$2.2M
$2.0M
Total long-term liabilities
$69.0M
$53.0M
$55.9M
$78.1M
Total liabilities
$277.7M
$243.1M
$263.3M
$287.4M
Common stock, $.01 par value, 100,000 shares authorized; 47,144 and 43,817 issued and outstanding, as of June 30, 2026 and December 31, 2025, respectively
471.0K
471.0K
430.0K
430.0K
Additional paid-in capital
$258.0M
$258.0M
$189.1M
$188.9M
Retained deficit
($68.1M)
($52.9M)
($43.3M)
($67.2M)
Total stockholders' equity
$190.3M
$205.6M
$146.2M
$122.2M
Total liabilities and stockholders' equity
$468.0M
$448.6M
$409.5M
$409.5M
Cash flow statement
Hallador Energy Co cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income (loss)
$41.9M
($226.1M)
$44.8M
$18.1M
Deferred income tax (benefit)
$1.8M
($9.2M)
$4.6M
$1.8M
Equity method investment loss
$450.0K
$746.0K
$552.0K
($443.0K)
Depreciation, depletion and amortization
$41.2M
$65.6M
$67.2M
$46.9M
Asset impairment
$0
$215.1M
—
$0
Loss on extinguishment of debt
$608.0K
$2.8M
$1.5M
$0
(Gain) loss on disposal or abandonment of assets, net
($2.5M)
($50.0K)
—
—
Amortization of debt issuance costs
$2.0M
$1.7M
$3.2M
$3.6M
Asset retirement obligations accretion
$1.8M
$1.6M
$1.8M
$1.0M
Cash paid on asset retirement obligation reclamation
($727.0K)
($1.4M)
($3.4M)
($3.2M)
Stock-based compensation
$3.5M
$4.5M
$3.6M
$1.3M
Amortization of contract liabilities
($99.7M)
($70.2M)
($39.8M)
($19.7M)
Accretion on contract liabilities
$8.4M
—
—
—
Director fees paid in stock
$192.0K
$150.0K
—
—
Accounts receivable
$1.4M
$4.5M
$10.0M
($16.3M)
Inventory
($5.8M)
($13.6M)
$15.5M
($25.9M)
Parts and supplies
($6.8M)
($227.0K)
($10.6M)
($6.3M)
Prepaid expenses
$1.9M
$784.0K
$1.2M
($5.9M)
Accounts payable and accrued liabilities
($2.2M)
($14.6M)
($19.0M)
$24.0M
Contract liabilities
$93.6M
—
—
—
Other
($56.0K)
$643.0K
$610.0K
$719.0K
Net cash provided by operating activities
$81.1M
$65.9M
$59.4M
$54.2M
Capital expenditures
($69.2M)
($53.4M)
($75.4M)
($54.0M)
Proceeds from sale of equipment
$3.2M
$4.2M
$62.0K
$655.0K
Investment in equity method investments
($490.0K)
($542.0K)
—
—
Net cash used in investing activities
($66.5M)
($46.5M)
($75.3M)
($53.4M)
Payments on bank debt
($106.0M)
($147.0M)
($59.7M)
($78.2M)
Borrowings of bank debt
$92.0M
$99.5M
$66.0M
$51.7M
Payments on lease financing
($7.0M)
($5.6M)
—
—
Proceeds from sale and leaseback arrangement
$0
$5.1M
$11.1M
—
Debt issuance costs
($330.0K)
($673.0K)
($6.0M)
($2.1M)
ATM offering
$13.5M
$34.5M
$7.3M
—
Taxes paid on vesting of RSUs
($3.6M)
($277.0K)
($2.1M)
$0
Net cash used in financing activities
($11.4M)
($14.4M)
$16.6M
($207.0K)
Increase in cash, cash equivalents, and restricted cash
$3.2M
$5.0M
$697.0K
$597.0K
Cash, cash equivalents, and restricted cash, beginning of year
$12.2M
$7.1M
$6.4M
$5.8M
Cash, cash equivalents, and restricted cash, end of year
$15.4M
$12.2M
$7.1M
$6.4M
Cash and cash equivalents
$10.1M
$7.2M
$2.8M
$3.0M
Restricted cash
$5.3M
$4.9M
$4.3M
$3.4M
Cash, Cash Equivalents and Restricted Cash
$15.4M
—
—
—
Cash paid for interest
$6.7M
$10.5M
$10.0M
$8.1M
Non-cash change in capital expenditures related to accounts payable and prepaid expenses
$7.2M
$356.0K
—
—
Hallador Energy Co cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income (loss)
($24.6M)
($9.3M)
$42.1M
$18.2M
Deferred income tax (benefit)
($1.7M)
($504.0K)
—
—
Equity method investment loss
$365.0K
$121.0K
$287.0K
$39.0K
Depreciation, depletion and amortization
$20.5M
$10.6M
$29.7M
$20.5M
Gain on disposal or abandonment of assets, net
($186.0K)
($201.0K)
($2.4M)
($76.0K)
Loss on extinguishment of debt
$230.0K
$230.0K
—
—
Amortization of debt issuance costs
$802.0K
$274.0K
$1.6M
$1.0M
Asset retirement obligations accretion
$824.0K
$408.0K
$1.3M
$864.0K
Cash paid on asset retirement obligation reclamation
($332.0K)
($148.0K)
($455.0K)
($311.0K)
Stock-based compensation
$2.5M
$1.1M
$2.1M
$1.6M
Amortization of contract liabilities
($69.5M)
($36.4M)
($82.6M)
($65.6M)
Accretion on contract liabilities
$5.1M
$2.8M
$5.7M
$3.2M
Amortization of right-of-use assets
$319.0K
$87.0K
—
—
Other
$1.5M
$1.5M
$274.0K
$284.0K
Accounts receivable
($407.0K)
$4.8M
($9.3M)
($3.3M)
Inventory
($5.3M)
($4.6M)
$8.7M
($6.9M)
Parts and supplies
($5.5M)
($2.0M)
($4.9M)
($3.7M)
Prepaid expenses
($452.0K)
($2.6M)
$1.2M
$1.0M
Accounts payable and accrued liabilities
$10.5M
$7.4M
$1.9M
$5.1M
Contract liabilities
$61.8M
$46.9M
$77.9M
$77.8M
Net cash (used in) provided by operating activities
($3.4M)
$20.5M
$73.0M
$49.8M
Capital expenditures
($33.9M)
($7.7M)
($44.3M)
($24.7M)
Proceeds from sale of equipment
$200.0K
$201.0K
$2.9M
$162.0K
Net cash used in investing activities
($33.7M)
($7.5M)
($41.8M)
($24.9M)
Payments on bank debt
($79.2M)
($56.7M)
($63.0M)
($44.0M)
Borrowings of bank debt
$94.2M
$26.7M
$63.0M
$45.0M
Payments on lease financing
($4.6M)
($3.2M)
($5.2M)
($3.4M)
Debt issuance costs
($6.2M)
($5.8M)
($330.0K)
($330.0K)
Proceeds from offering, net of issuance costs
$54.0M
$54.0M
—
—
Taxes paid on vesting of RSUs
($1.4M)
($38.0K)
($2.4M)
($1.9M)
Net cash (used in) provided by financing activities
$56.7M
$15.0M
($7.9M)
($4.7M)
Increase in cash, cash equivalents, and restricted cash
$19.6M
$28.0M
$23.3M
$20.2M
Cash, cash equivalents, and restricted cash, beginning of period
$15.4M
$15.4M
$12.2M
$12.2M
Cash, cash equivalents, and restricted cash, end of period
$34.9M
$43.4M
$35.5M
$32.4M
Cash and cash equivalents
$29.0M
$36.8M
$12.7M
$9.2M
Restricted cash
$6.0M
$6.6M
$22.8M
$23.1M
Cash, Cash Equivalents and Restricted Cash
$34.9M
$43.4M
$35.5M
$32.4M
Cash paid for interest
$1.4M
$1.0M
$4.7M
$2.8M
Non-cash change in capital expenditures included in accounts payable and prepaid expense