Hallador Energy's Q3 revenue beats estimates
Overview
U.S. power producer's Q3 total revenue fell 11% yr/yr but beat analyst expectations
Adjusted EBITDA for Q3 missed analyst estimates
Company secured new financing and raised contracted forward sales to $3.0 bln, up 26% from Q2
Outlook
Hallador targets final investment decision on Turtle Creek project before end of 2026
Company expects Turtle Creek to reach commercial operation in second half of 2028
Contract pricing steps up materially beginning in 2027
Result Drivers
LOWER THIRD-PARTY COAL SALES - Co attributed 11% yr/yr revenue decline primarily to lower third-party coal sales
MEROM GENERATION - Merom generation increased 77% qtr/qtr after completion of a major maintenance outage in July
ELECTRIC SALES GROWTH - Higher delivered energy sales drove a 28% increase in total revenue qtr/qtr
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $130.25 mln | $118.25 mln (4 Analysts) |
Q3 Net Loss | $4.50 mln | ||
Q3 Adjusted EBITDA | Miss | $17.29 mln | $18.26 mln (4 Analysts) |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the independent power producers peer group is "buy"
Wall Street's median 12-month price target for Hallador Energy Company is $27.50, about 172.3% above its November 6 closing price of $10.10
The stock recently traded at 71 times the next 12-month earnings vs. a P/E of 18 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)