DealsMay 6, 2026, 04:07 PM
Hallador Energy Signs 12-Year Capacity Deal for Over $1B Revenue
AI Summary
Hallador Energy announced a new 12-year capacity agreement, effective 2028-2040, expected to generate over $1 billion in contracted revenue at more than double historical capacity pricing. This deal, combined with a prior three-year agreement, nearly doubles the company's forward sales book. For Q1 2026, the company reported total revenue of $101.8 million, a net loss of $9.3 million, and adjusted EBITDA of $5.5 million, reflecting previously disclosed availability constraints at Merom.
Key Highlights
- Signed 12-year capacity agreement (2028-2040) for over $1 billion in contracted revenue.
- Agreement priced at more than 2x historical capacity pricing, nearly doubling forward sales book.
- Q1 2026 Total Revenue: $101.8 million, down from $117.7 million in prior year.
- Q1 2026 Net Loss: $(9.3) million, compared to $10.0 million net income in prior year.
- Q1 2026 Adjusted EBITDA: $5.5 million, down from $19.3 million in prior year.
- Q1 2026 Operating Cash Flow: $20.5 million.
- Total liquidity of $97.5 million at March 31, 2026, up from $38.8 million at Dec 31, 2025.
- No outstanding bank debt at March 31, 2026, down from $29.7 million at Dec 31, 2025.