The following is a summary of the Hallador Energy Company (HNRG) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Hallador Energy reported a Q1 net loss of $1.7 million, with an adjusted EBITDA of $6.8 million and an operating cash flow of $16.4 million.

• The company utilized $14.5 million from their operating cash to reduce its debt, leaving their funded and net debt balance at $77 million and $75.4 million respectively.

• Their leverage ratio was well within its covenant at 1.58.

• The company noted that it has seen a considerable increase in future forward sales due to the sale of a significant amount of 2024 and 2025 energy to the plant's seller.

Business Progress:

• Hallador Energy is transitioning from a coal production company to an independent power producer, with electricity operations revenues surpassing coal operations revenues this quarter.

• The company added approximately $138 million in forward energy and capacity sales during this quarter.

• Due to high demand signals, there is an anticipation of an increase in capital expenditure and consequentially higher COGS growth in FY '24.

• The company is contemplating the benefits of co-firing with gas in response to the new EPA Clean Power rule.

• Future operational strategies include utilizing renewable energy resources like wind and solar power as well as contemplating potential acquisitions for asset value incrementation.

More details: Hallador Energy IR

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